Matt Levine

speaker

3,472 appearances 9 recordings 1 series first heard Jun 2026 last heard 11 Sep

Matt Levine’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 9 in all, peaking in Jul 2026 with 5.

Appearances

newest first · ▶ plays the moment

Money Stuff: The Podcast · Learn More Gooder · 4 Sep 2026 podcast

With a little bit of friction. voice-verified

Yeah, a little bit of friction. voice-verified

But like, you know, what I wrote about this is like you could do this with any stock, except like it doesn't have a counterpart. voice-verified

So you'd have to be naked for some period of time, right? voice-verified

You'd have to sell the stock, wait for the dividend and buy it back. voice-verified

And if you wait, you know, 17 hours to buy it back, like from selling it close to buying back at the open. voice-verified

Can I quote you voice-verified

So like stuff can happen. voice-verified

Like the stock will probably go up overnight, right? voice-verified

Right. voice-verified

But here, because you're selling and buying at the same time, you don't ha you have some friction because there's no guarantee that it'll drop by exactly the amount of the dividend, but you have much less friction and you capture much more of the dividend. voice-verified

If you sell and buy like that, you're gonna have much more capital gains taxes than you'll save in dividend taxes, which is true if you are like a retirement saver who owns Iv and are like, I'm gonna avoid this dividend tax by selling and buying back, right? voice-verified

But that's not what's happening here. voice-verified

This is like hedge funds doing carry trades where it's like voice-verified

There's essentially no capital gains because like they're day trading it and they're, you know, probably um long and short the same like they're not worried about the capital gains size. voice-verified

They're worried about the whole thing. voice-verified

Right, exactly. voice-verified

This is not like a rich person trade, this is a hedge fund trade. voice-verified

Important distinction. voice-verified

Martial waste. voice-verified

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