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Assets invested in so-called tax-aware long-short strategies, or TALS, have surged to more than $170 billion, according to Tax Alpha Insider, as wealthy investors seek to minimize tax liabilities through the complex trading approach. The strategies typically pair long and short positions to generate harvestable losses that can offset capital gains taxes elsewhere in a portfolio. The rapid growth in TALS assets highlights how high-net-worth investors are increasingly turning to sophisticated tax-optimization vehicles, even as some analysts warn of embedded risks and complexity that may not be fully understood by all participants.