David Weisburd

This is not investing advice.

But it's become this part of the market that's just white hot.

You have, I think, Quintino, you could correct me if I'm wrong, but I think it's gone from something like 1 to 30 billion within 12 months.

You have AQR that's deploying close to 100 billion.

You have many firms going after the strategy in today's market as well and trying to replicate it as well.

Is that the kind of strategy that you're talking about, this long, short tax loss harvesting?

Who are the other large players in the space?

I'm not asking you to qualitatively assess them, but just in terms of the biggest players, who would you put in that same bucket as an AQR and Quintino?

Said another way, you have to be a good investor because you're picking what to go short and long.

So you're shorting GM, going long, Ford, or the opposite, because you have to stay close to the index.

So you have to know which one of those is, on average, going to be better.

And they do this across hundreds, if not thousands, of stocks.

But you have to have picking ability.

One of the other criticisms of this strategy is the unwinding of the positions.

So talk to me about that.

Let's go back to that same example.

I founded a company.

I sold it for $10 million, or I have a $10 million position that I want to sell.

How do I unwind myself from this $10 million position, this tax house harvesting vehicle?

Give me a hypothetical case.