# The Tax-Loss Machine: How Long-Short Took Over Wealth Management

Page: https://stenobird.com/podcast/talking-wealth-7500068/the-tax-loss-machine-how-long-short-took-over-wealth-management
Text version: https://stenobird.com/podcast/talking-wealth-7500068/the-tax-loss-machine-how-long-short-took-over-wealth-management.md
Podcast: [Talking Wealth](https://stenobird.com/podcast/talking-wealth-7500068)
Published: 2026-05-21T16:37:00+00:00
Episode link: https://pdst.fm/e/traffic.megaphone.fm/TCP8247809120.mp3
Audio file: https://pdst.fm/e/traffic.megaphone.fm/TCP8247809120.mp3
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JSON: https://stenobird.com/v1/public/podcasts/talking-wealth-7500068/episodes/the-tax-loss-machine-how-long-short-took-over-wealth-management
Duration seconds: 1904

## Resource

On this episode of Talking Wealth, Michael Batnick is joined by Brent Sullivan to discuss the rise of tax-aware long-short investing and how it’s changing wealth management. They cover direct indexing, 130/30 and 250/150 strategies, why traditional tax-loss harvesting dries up in bull markets, the risks advisors may be overlooking, and why firms like Fidelity Investments and Charles Schwab Corporation are starting to pump the brakes on the category. This episode is sponsored by Calamos. For more information, visit https://www.calamos.com/funds/etf/calamos-autocallable-income-caie. For more from Talking Wealth sign up at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://talkingwealthpod.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Participants include employees of Ritholtz Wealth Management. All opinions expressed by them are solely their own opinions and do not reflect the opinion of Ritholtz Wealth Management. This program is for informational purposes only and is not intended to provide specific advice or recommendations for any individual or on any specific security or product. Any opinions expressed herein do not constitute or imply endorsement, sponsorship, or recommendation by Ritholtz Wealth Management or its employees. Ritholtz Wealth Management and its affiliates may invest in the technology company discussed. The Compound Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that securi…

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## Transcript

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