CFA Level 3 | PWM: After-tax Post-Liquidation Return
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CFA Level 3
Topic: Private Wealth Management
Reading: Topics in Private Wealth Management
If the investor sells all holdings in the portfolio at the end of the investment horizon, then the after-tax post-liquidation return is the relevant measure. In this video, I will show two examples, one where the embedded capital gains is given, and the other where the tax basis is given.