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

It's in two forms.

It's margin.

That's cash.

And then it's securities, which means that they have to go source those securities.

Yeah.

So, I mean, it's really interesting if you're encountering the strategy for the first time and you're just like, wow, I mean, like margin rates, if I just look at a retail brokerage account, it's 6%, 7%, 8%.

How could this strategy make sense?

How does that even work?

So the important thing to know here is that when you borrow on margin, you do, in fact, pay that large rate.

But on the short side, what happens is you borrow shares, you sell those shares.

Those shares generate proceeds.

Those proceeds go into a quarantined account.

that account collects interest.

And then the broker rebates a lot of that interest to you.

So now what you have is a difference between the full margin rate and the short rebate.

And oftentimes that spread is quite small.

And I've seen 50, 60, 70 basis points through the middle.

And again, that's only applied to the leverage portion of the portfolio.

Oh, it's far less than people think if they're just thinking about margin.

And I'll say this, like everybody, you know, very sophisticated investors who are encountering long short for the first time are, you know, their eyes pop out of their head when they realize how inexpensive it is to finance the strategy.

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