Miriam Gottfried

speaker

638 appearances 7 recordings 1 series first heard Jul 2026 last heard 6d ago

Miriam Gottfried’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 7 in all, peaking in Aug 2026 with 4.

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

AQR, which is the biggest provider of this, would definitely not call itself a passive investor.

And the reason that the alpha is so necessary is because the strategies are expensive.

Let's talk about how much it costs.

What are the fees to an investor to do this strategy?

So that's a management fee on assets invested in the strategy.

So given these high prices, I think like I want to get at something that's become kind of a big debate in this corner of the market, which is are these strategies worth it?

Because, you know, the more I've covered the wealth management industry, the more I realize it's a very slow growth industry.

There's like not a lot of organic growth.

Of course, the market is lifting assets under management.

You get growth from that.

But new money isn't generally flowing in.

So advisors are always finding ways to compete with each other.

What is the new shiny object that I can offer to my clients to attract more people to me?

And so I think these strategies offer two things.

They offer a new shiny object, something that you can lure your client in by saying, look at what I can offer you here.

Look at how special this thing is.

But then they also offer really sticky AUM because

Once you invest in this thing, you can't really get out of it without paying all those deferred taxes that you've held off for later, right?

So you've also said that these strategies aren't right for everyone.

So I want to get into that because, you know, from what we've been talking about now, it just seems like, oh, why wouldn't everyone be doing this?

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