Ivan Krivicic Profile picture
Opinions are my own and not the views of my employer. Nothing I write here should be considered investment advice.
Apr 22, 2021 4 tweets 2 min read
Avg holding period is below 1 year and most of returns come from price action so one could argue that capital gain tax increase 20->50% makes stocks 60% more expensive.

Add corp tax increase that'll eat chunk of earnings and multiply all by already highest valuations ever.
#SPX Don't know if historically lower/negative GDP growth in periods with higher capital gains tax is coincidence or not, but basic logic would agree that there is less incentive to invest with higher taxes.