Does anyone here have experience doing the Direct Indexing strategy to optimize taxes?
For those unfamiliar, this is a strategy where you literally buy every stock in the S&P and construct a portfolio that roughly mimics an S&P ETF but actually holds all the stocks. Then, at tax year end, you sell the stocks that lost money and harvest the tax savings (and then rebuy them 30 days later at hopefully a similar basis to re-mimic the market). From what I've read, this can result in a long term additional 0.5 - 2.0% annual return (on an after tax basis). Compound that and it becomes pretty powerful.
Has anyone done this? How much do you need and who did you use to manage it?
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