Episode
E370: What Taxable Investors Still Get Wrong About Returns
- Published
- May 15, 2026
- Duration seconds
- 2232
- Processing state
not_requested- Canonical source
- https://howiinvestpodcast.com/episodes/fRg4iRHHCWi
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Summary
What if the biggest source of alpha today isn’t stock picking—but structuring portfolios more intelligently after taxes? In this episode, I sit down with Shang to discuss why tax alpha is becoming one of the most important themes in wealth and asset management. Shang breaks down how long-short tax-aware strategies work, why manager selection matters more than most investors realize, and how investors should think about tracking error, leverage, and operational risk. We also explore portable alpha, hedge fund tax structures, and why the explosion of tax-focused products may create as many risks as opportunities.