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And guess what? This following of "smart money" is in fact a self-fulfilling prophecy: after let's say Pelosi/her husband bought some stocks some large group of
by Hedgemaster 5y ago
And guess what? This following of "smart money" is in fact a self-fulfilling prophecy: after let's say Pelosi/her husband bought some stocks some large group of retail traders jump in and pump the price higher.. It likely has a negligible effect on highly liquid names like AAPL or GOOGL but might cause a significant price move for a smaller/less liquid names
- JasonFruit 5y agoAnd by doing that, we're further enriching members of Congress. We should be taking a mass oath to sell any stock they buy. Then, of course, they'd only invest in potential opponents' corporations. It could turn into a real arms race.
- jjeaff 5y agoWe need to just pass a law already that forbids them from purchasing or owning individual stocks. After all, assuming they aren't trading on insider information, it would be to their own benefit anyway.
- JasonFruit 5y agoYes, that's a better but less funny suggestion, and would be more practical if they didn't pass the laws.
- sumedh 5y agoThen their cousins and very close friends will do the trading on their behalf.