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Economics & Strategy - Accounting & Tax Policy: Third


After two years in the runner-up position, Janet Pegg retakes third place. One money manager credits the UBS strategist with being adept at “breaking down complex topics into a format that you can understand and apply.” For example, Pegg published “A Primer on Tax-Free Spin-Offs” in February that provided investors with an overview of the tax rules governing companies spun off by conglomerates. She explained in painstaking detail the Anti–Morris Trust regulations, which eliminate favorable tax treatment in instances where a divestiture results in a person’s or entity’s acquiring a majority stake in either the parent company or the subsidiary. “Although it didn’t have a specific impact on a stock price or sector performance,” she explains, “it enabled our clients to quantify the probability of a spin-off or buyout.”

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