Long-Short Direct Investing: When Wall Street Gets It Right

Most Wall Street innovations fail taxable investors by ignoring taxes, layering on complexity, and charging exorbitant fees. They are products in search of a buyer rather than solutions to real problems. Long-short direct indexing, like the index fund and ETF before it, is different: aligned incentives, transparent and reasonable costs, and a clear, measurable benefit. For the ultra-high-net-worth and family office investors, it can turn market volatility into a sustainable source of after-tax outperformance—something Wall Street has long failed to provide.