Brent Sullivan

speaker

332 appearances 1 recordings 1 series first heard Jul 2026 last heard 19 Jul

Brent Sullivan’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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WSJ's Take On the Week · How This $150B+ Wall Street Strategy Could Lower Your Taxes · 19 Jul 2026 podcast

that now we're injecting leverage into the portfolio leverage comes in two forms one it is the margin that you add so you borrow and then you invest that margin and the other form of leverage is short positions you're borrowing those shares and then selling them that creates a short position what that does is increase the surface area of the portfolio so now instead of just one dollar invested maybe you have two dollars maybe a five dollars invested

And what does that do?

It gives you more potential upside.

If you like what the manager is doing, you can capture pre-tax alpha.

But then also as the market is bouncing up and down, positions are dipping below cost basis or the short positions, the cost to cover.

And as they're oscillating around, you can harvest those losses.

Yeah, there's two forms of borrowing.

So on the long side, it is a cash loan.

So you can think of the margin just like in a portfolio margin account or a brokerage account.

You can think about checking that little box that says, yes, I'm going to borrow cash.

You take that cash and you reinvest it.

So that is a cash loan margin.

And then on the short side, you're borrowing securities this time.

So it's two different forms of borrowing, both injected into the same portfolio.

Like what Miriam said, now we're talking about much more just exposure.

I think about like a fish net.

The net is just much larger in the water.

You're dragging it behind your boat and you're catching more fish just because the net is bigger now.

And those fish are tax losses.

Well, so that's an important thing.

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