A Tax Strategy So Aggressive It Built the World’s Largest Hedge Fund and Made Losing Money the Hottest Product on Wall Street
· finance.yahoo.com
Cliff Asness spent three decades fuming that taxes destroyed more investor wealth than bad stock picks ever did, so he built a fund that turns losing money into the actual product. What regulators are now calling potentially abusive, his clients are calling the smartest trade on Wall Street.
Quick Read
A 1993 article Asness read at Goldman Sachs (GS) showed taxes outstrip market gains, and that insight eventually built AQR into a $140 billion hedge...