Give it away, give it away, give it away now (literally)
Many OBBB giving limitations take effect 2026
What I’m reading…
Kitces.com: Breaking Down The “One Big Beautiful Bill Act”: Impact Of New Laws On Tax Planning
Hendrik Bessembinder: Levered Single-Stock ETFs
ACTEC: FLP/LLC Checklist (very helpful)
AQR: The Impact of Liquidation Taxes on the Lifecycle Benefits of Tax-Aware Long-Short Strategies
Tax Alpha Insider: The Adviser’s Guide to Seeding an ETF In-Kind (via Section 351)
Levered Single-Stock ETFs
As the investment holding period gets longer, the distribution of returns for levered single-stock ETFs becomes dramatically more volatile and positively skewed (this means the median is usually below the mean).
Where have we seen this before?
The rotting bananas, of course! And that’s not a coincidence. Antti’s paper was an evolution of an earlier Bessembinder paper.
Harvesting by hand
???
