Tax Alpha Insider
Subscribe Brent Sullivan About
Tax-Aware Long-Short

Should tax-aware long/short investors care about black swan short sale bans?

When shit hits the fan, investors are exposed to the manager's experience and processes

Brent Sullivan· · 4 min read
Cartoon on black swan short sale bans and the manager-dependent risk in tax-aware long/short

Before digging into black swan short sale banning, last week Andre Nader and I talked about…

De-risking concentrated single-stock risk

Or check out the brief write-up…

Tax Strategies for Dealing With Concentrated FAANG Positions
As we head into the final stretch of 2025, just weeks after the S&P 500 hit all-time highs, I’m getting a fresh wave of questions about how to manage concentrated stock positions.
FAANG FIRE

Why seed an ETF in-kind?

It’s a smooth way to transition from one strategy to another without immediate tax.

I wrote a book about it.

You can buy one of 4 reminaing copies here.

Or… you can join this Alpha Architect §351 webinar at 9 AM PT that I’m crashing.

This isn’t sponsored… just good vibes.

Black swan short-sale bans

I’ve been investigating tax-aware long/short strategies (2 sentence, 2 infographic explainer) for the past 18 months.

Nowadays, I’m wondering what could go wrong.