For many foreign long-term institutional investors, management capacity and performance is the most fundamental guarantee of the long term capital gain of the company's stock.

对许多海外长线机构投资者而言，管理层的能力和表现是公司股票长期增值最根本的保证。

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One assumption is that you have, apart from the loss-harvesting trade, a long-term capital gain this year.

FORBES: Should You Take A Tax Loss In December?

However, since VC partnerships mostly make long-term equity investments, most of their profit is long-term capital gain.

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Stocks and index funds, which benefit from much lower long-term capital gain rates, can go in your taxable accounts.

FORBES: Investment Guide