Is the risk well compensated?
A quick summary of many recent conversations
✅ Basis Northwest 2026 is sold out.
I started letting folks off the waitlist, but about one in three said they couldn’t come anymore. I have 4 spots left. The first people to message me will get them.
💸 The best way to stay up to date on future Basis events is this newsletter.
We hear a lot about tax optimization in stocks... but what about bonds?
Eric Golden will get us up to speed next week at Basis Northwest 2026.
Eric spent nearly two decades at Fidelity before striking out on his own to build Canopy.
I learn something every time I talk with Eric, and I think he’s got something special in store for attendees...
Is the risk well-compensated?
I’m getting a lot of questions lately about the risk and cost of tax-aware long/short strategies (130/30, 200/100, etc.), and I say the same thing every time: higher risk and cost could make sense if they’re appropriately compensated.
What I’m reading/watching…
The Wall Street Journal: Stock Gains Without All the Taxes? How the Hottest Trade on Wall Street Works
McKeever/Rydqvist: Tax-Loss Harvesting Under Uncertainty
Basis Northwest co-host Shang Chou taking taxable investing with David Weisburd.
Shameless plug… we cover some interesting ground in long/short strategies…
Nice little (digital) perk for Basis Northwest 2026 attendees…
Very good explainer. Long live the balance sheet!
Memes…
An oldie but a goodie…
TGIF.