AQR’s Tax‑Loss Harvesting Engine Lets Billionaires Cut Tax Bills to Zero
AQR Capital has turned tax‑loss harvesting into a $150 billion‑sized service that lets the ultra‑wealthy eliminate income‑tax liabilities on their portfolios. The model, now replicated by dozens of firms, forces the tax code into a new battleground and could reshape capital flows as regulators scramble to close the loophole.