Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JWM
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • LinkedIn
  • Twitter

User menu

  • Sample our Content
  • Subscribe Now
  • Log in

Search

  • ADVANCED SEARCH: Discover more content by journal, author or time frame
The Journal of Wealth Management
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Subscribe Now
  • Log in
The Journal of Wealth Management

The Journal of Wealth Management

ADVANCED SEARCH: Discover more content by journal, author or time frame

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JWM
    • Editorial Board
    • Published Ahead of Print (PAP)
  • LinkedIn
  • Twitter
Primary Article

Equity Portfolio Structure and Design in the Presence of Taxes

David M. Stein
The Journal of Wealth Management Fall 2001, 4 (2) 37-42; DOI: https://doi.org/10.3905/jwm.2001.320410
David M. Stein
Managing director and chief investment officer of Parametric Portfolio Associates in Seattle, WA
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
Loading

Abstract

The author addresses the issues selecting the policy normal equity mix among large and small capitalization stocks, or a value or growth style, together with the method of implementing this, that is through an active or a passive investment process. Focusing on the taxable investor, the author argues that equity portfolio structure is a particularly important subject in this case. Discussing the four decision points at which some tax may be incurred, he proposes five broad recommendations, which view the design of the equity portfolio from a long-term perspective. Thus, he suggests that taxable investors should reject conventional wisdom and rather opt for a broad core equity investment that is passive and tax managed, allowing for concentrated active managers with relatively small portfolios that are unconstrained with respect to risk and are not too focused on taxes.

  • © 2001 Pageant Media Ltd

Don’t have access? Register today to begin unrestricted access to our database of research.

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Wealth Management
Vol. 4, Issue 2
Fall 2001
  • Table of Contents
  • Index by author
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Wealth Management.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
Equity Portfolio Structure and Design in the Presence of Taxes
(Your Name) has sent you a message from The Journal of Wealth Management
(Your Name) thought you would like to see the The Journal of Wealth Management web site.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Citation Tools
Equity Portfolio Structure and Design in the Presence of Taxes
David M. Stein
The Journal of Wealth Management Jul 2001, 4 (2) 37-42; DOI: 10.3905/jwm.2001.320410

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
Equity Portfolio Structure and Design in the Presence of Taxes
David M. Stein
The Journal of Wealth Management Jul 2001, 4 (2) 37-42; DOI: 10.3905/jwm.2001.320410
del.icio.us logo Digg logo Reddit logo Twitter logo CiteULike logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

Similar Articles

Cited By...

  • The Tax Benefits of Relaxing the Long-Only Constraint: Do They Come from Character or Deferral?
  • Core Versus Satellite: How Much Should a Taxable Investor Allocate to the Core Equity Portfolio?
  • The Role of ETFs in Active Tax Management
  • Is Your Tax-Managed Fund Manager Hiding in the Closet?
  • Google Scholar

More in this TOC Section

  • Corporate PACs and the Stock Market
  • The Elusiveness of Investment Skill
  • Asset Liability Management in Financial Planning
Show more Primary Article
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • LinkedIn
  • Twitter

MORE FROM PMR

  • Home
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Log In
  • Update your profile
  • Give us your feedback

© 2021 Pageant Media Ltd | All Rights Reserved | ISSN: 1534-7524 | E-ISSN: 2374-1368

  • Site Map
  • Terms & Conditions
  • Cookies
  • Privacy Policy