AQR market views, organized for advisors.

The investment landscape is evolving with increased focus on tax-aware strategies, particularly in direct indexing which has grown significantly.

Tax-aware long/short investing, though newer, is gaining traction and sparking important discussions.

Managing concentrated wealth presents a unique challenge, balancing the benefits of ownership with the inherent risks of single-asset exposure.

Founders and executives often view these holdings as more than just investments, representing control and legacy, yet market shifts can necessitate...

Financial advisors and investors are increasingly focused on sophisticated strategies for managing concentrated wealth and stock positions.

This involves a delicate balance between the benefits of diversification and the often significant tax implications of realizing gains.

U.S. tax rules generally follow economic substance, so placing trades inside an LLC or partnership does not reliably sidestep wash sale, straddle, or constructive sale rules.

A single-member LLC or SMA is usually treated like direct ownership, while a fund-of-one...

The total portfolio approach is drawing attention because it promises more flexibility than traditional strategic asset allocation, but the idea can still be vague in practice.

A skeptical, quantitative review suggests there are real benefits when investors step back from...