cltby
Joined 6 years ago
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Joined 6 years ago
What sort of shenanigans do you think profitable automated traders are engaged in?
You could do this stratification/matching for any IQ study. What's special about lead-IQ?
* average 1% asset management fee (modal number if you poke around)
* 0% investment carry (hedge funds get away with charging this, but most asset managers don't)
* 9% effective tax rate (revenues disproportionately go to high earners)
gets you $1.8B lost tax revenues. The 0% carry assumption is very conservative, so the $1.8B is a lower bound. Even so, CA and NY collect about $400B annually. As a first order thing, this doesn't move the needle very much.