Wall Street has come up with a new strategy for wealth management: tax-loss harvesting. This involves selling losing investments to reduce taxes owed on profits made elsewhere in the portfolio. The practice is often used by money managers for their wealthy clients, allowing them to cut taxes and grow their wealth. However, critics argue that this tactic only benefits the rich, as most investors cannot afford such long-short methods.

Source: https://www.wionews.com/business-economy/tax-loss-harvesting-money-managers-clever-new-trick-to-cut-taxes-for-rich-clients-770885