The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
Tax Strategies, Exchange Funds, and Portfolio Optimization with Wes Gray & Srikanth Narayan | #591
Today’s guests are Wes Gray, founder, CEO and Co-CIO of Alpha Architect, and Srikanth Narayan, founder and CEO of Cache, which he started in 2022 after experiencing concentrated stock positions in his own portfolio. Previously, he served in engineering and product leadership positions at Uber and Alphabet. In today’s episode, Meb, Wes & Srikanth share some big news about a new idea involving both exchange funds and 351 ETF conversions. Srikanth explains the mechanics of exchange funds, the risks associated with stock concentration, and the launch of his newest initiative. The discussion also touches on tax efficiency, fees, the competitive landscape of asset management, and more.
Key Points
- Using the combination of exchange funds and ETFs, investors with concentrated stock positions can diversify their portfolios tax-efficiently.
- The new exchange fund solution being discussed offers a lower cost structure compared to traditional exchange funds, charging around 50 basis points annually without any sales fees.
- The strategy leverages the tax efficiency of ETFs and the partnership structure of exchange funds to provide a more accessible and scalable solution for managing concentrated stock risks.
Chapters
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| 31:03 | |
| 34:11 | |
| 45:23 |
Transcript
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