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. Learn more about 351 ETF Exchanges or email us to chat!

(0:00) Starts

(1:10) Discussion on Section 351

(4:33) Explanation of exchange funds and stock concentration risk

(16:25) Case study of the new exchange fund model

(20:06) Onboarding and cost structure of the new exchange fund

(23:13) Qualifying illiquid assets and cost in tax strategies

(31:03) Use cases and investor education on ETF tax benefits

(34:11) FAQs and the importance of tax alpha

(45:23) Reflections on SPACs and speculative markets

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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 

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Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠).

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