Matt Levine

speaker

4,099 appearances 10 recordings 1 series first heard Jun 2026 last heard 18 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 — 10 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

So for a little while, if is trading below Vu, and then you switch back. voice-verified

You like sell your vo, you buy back your if. voice-verified

And so you're you sell if at the high price, you buy vo at the high price, you sell vo at the high price, and then you buy if at the low price. voice-verified

price. voice-verified

So you have captured the dividend by selling high and buying low. voice-verified

And like the difference in the price is basically the amount of the dividend. voice-verified

With a little bit of a voice-verified

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

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