When Charles Schwab released its quarterly earnings on Thursday, it wasn't the quarterly earnings per share print in the numbers that caught the attention of those who manage money for wealthy stock investors — it was a $60.7 billion figure. That was reported in a detail about margin loan balances which increased 14% quarter-over-quarter to $187.9 billion, including a whopping $60.7 billion related to what are known as "tax-aware" long/short strategies used by many registered investment advisors. These strategies have been booming as a way for the wealthy to super-charge tax-loss harvesting approaches to stock gains and losses.
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