Vice President and Democratic presidential candidate Kamala Harris is a believer in passive investment strategies, based on her latest financial disclosure.Here's what else we can learn from her portfolio.
"For me, it was quite refreshing that it appears to be very passive," said Dustin Thackeray, a chartered financial analyst and chief investment officer at Crewe Advisors in Salt Lake City, who reviewed Harris' disclosure.
A group of senators is pushing for a bill that would prohibit members of Congress — as well as their spouses and dependents — from buying certain investments like individual stocks, as opposed to diversified investment funds or Treasury securities.In addition to Harris' favoring of passive investments, the disclosure also reveals more about her financial circumstances that may hold lessons for other investors, according to experts who reviewed the document.
Experts who reviewed Harris' document said the couple could cut down on the number of funds they own, and therefore reduce any overlapping exposure. How much impact those transactions have on the couple's tax bill depends on whether those trades are happening inside or outside of their retirement accounts.Harris and Emhoff also reveal cash holdings that may add up to around $850,000 or more, depending on the exact balances based on the ranges given."The good thing about cash balances today is that they are actually making an investment return, where they hadn't for many, many years prior to higher rates," Thackeray said.