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Strong market returns can create a difficult trade-off: diversify concentrated holdings and trigger a tax bill, or retain unwanted risk. Tax-aware strategies may help, but saving taxes is not the same as building the right portfolio.
On this episode of Disruptive Forces, host Anu Rajakumar speaks with Doug Kramer, Head of Institutional Equity and Multi-Asset at Neuberger, about how tax deferral can support compounding, the tools available to manage low-cost-basis stock, and why investors should start with their whole balance sheet—not a single strategy. They also discuss trade-offs and evolving regulatory scrutiny.
On this episode:
- How tax drag can erode long-term compounding of gains
- Tax-loss harvesting, ETFs and other tax-aware tools
- Managing concentrated holdings while deferring taxes
- Regulatory scrutiny and bringing tax advisors in early
- Why investment objectives must come before tax savings
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