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Nancy pelosi's trading returns beat every well known investor, she is running far lower amounts of capital, but shes averaging 70% a year. Meanwhile, the rest o
by ldjkfkdsjnv 5y ago
Nancy pelosi's trading returns beat every well known investor, she is running far lower amounts of capital, but shes averaging 70% a year. Meanwhile, the rest of us slave away at our jobs like cattle, and listen to her speak on TV about "fighting for our rights, justice, equality"
- paulgb 5y agoDoes that 70% figure come from someone modeling out her portfolio based on the filings? I'd love to see it if it's public. Just as a gut reflex that seems high even with someone who had the amount of inside info she has, but not saying it's impossible.
- lisper 5y agoThis sort of claim really requires a reference.
- smoyer 5y agoThis one is most memorable to me: https://thehill.com/homenews/senate/488593-four-senators-sold-stocks-before-coronavirus-threat-crashed-market https://thehill.com/homenews/senate/488593-four-senators-sol... Not only is it insider trading, it's clear that the briefing indicated the amount of suffering that was coming to their constituents.
- xyzzyz 5y agoYour reference does not even mention Pelosi. It does not allege “insider trading” either, but rather suggests breach of STOCK Act. This is not the same thing as insider trading, which is about breaching fiduciary duty to shareholders.
- aaomidi 5y agohttps://twitter.com/nancytracker?s=21 https://twitter.com/nancytracker?s=21 theres even a Twitter tracking her shit now.
- fourstar 5y agoOh no! Not my heckin’ politicianerinos doing something unethical and illegal!!
- orwin 5y agoSo i researched your claim, i found a twitter thread and a Greenwald post supporting you, but with no data (i did not find the 70% returns/year averages) and then i found this[0] that explain how well her husband ran during the pandemic (TBF he ran as well as i did, 40% returns, better than when i was playing online poker, with a lot less time invested). In any case, this is distasteful and gross. Every bill should have an estimated impact on publicly traded companies, and politicians with stocks should be forbidden to discuss/mediate the bill, and only vote on it. [1]" https://www.forbes.com/sites/forbes-personal-shopper/2021/10/01/flexispot-comhar-adjustable-standing-desk-review-on-sale/?sh=1959522d294a https://www.forbes.com/sites/forbes-personal-shopper/2021/10...
- solveit 5y ago> Every bill should have an estimated impact on publicly traded companies I don't think this is feasible. > and politicians with stocks should be forbidden to discuss/mediate the bill, and only vote on it. But I'll go one further on this. No person holding public office above a certain level should be allowed to trade individual stocks. Either buy broad-market indices or have a third-party invest for you without your knowledge on specifics.
- IAmGraydon 5y agoPolicy can move broad market ETFs just as much as individual stocks.
- raziel2701 5y agoIt's the type of imperfect solution we need. Currently Senator Manchin is holding up the infrastructure bill because its plans to combat the climate crisis will impact his million-dollar investments in the coal and energy industries [1]. These people should not be allowed to hold any kind of private or public stock other than ETFs of the S&P 500 index. This way you remove the conflict of interest in favoring one sector/company over another and instead if they want to make money through the market they can do so by helping the overall economy instead. [1] https://www.businessinsider.com/senator-joe-manchin-half-million-year-coal-stocks-climate-crisis-2021-9 https://www.businessinsider.com/senator-joe-manchin-half-mil...
- jahewson 5y ago70% does not come close to beating every well known investor, including her investor husband. She had a good year. When that happens 100-200% returns are not unheard of. Once you annualise the numbers it becomes far more pedestrian.
- matheusmoreira 5y ago> Meanwhile, the rest of us slave away at our jobs like cattle Dehumanizing, isn't it? Working hard to contribute to society while these people accumulate 10, 100, 1000 times our yearly salaries in seconds by playing some market. The world we live in is so absurd, it's such a joke.
- iratewizard 5y agoThe fairness that we have is a gift given to us by the winners of unfair power struggles. Things can always be more fair, sure. But it's hard to ignore losing when you're winning all the time.
- booleandilemma 5y agoAren’t all/most of the congresspeople millionaires? We’re ruled over by the rich.
- coryrc 5y agoThey're mostly really old. At this point, retiring a millionaire or near-to-it is required to live a middle-class lifestyle.
- SyzygistSix 5y agoWe vote them into office. Or at least the small minority who bother to vote in the primaries do.Candidates that are closer to working class tend to lose in the primary elections despite the amount of information online and how easy it is to access compared to the past.
- jkhdigital 5y agoIs there some other world that would be less joke-like? I mean one that has actually existed, not a utopian fantasy.
- varelse 5y agoIt would be nice if Nancy Pelosi were not the classic strawman here. I don't excuse her behavior either but it's totally legal for now and there are so much worse out there. Yet they never come up it's always Nancy Pelosi and that's just creatively bankrupt. So here are 36 more... https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9 https://www.businessinsider.com/congress-stock-act-violation...
- bitexploder 5y agoIt’s actually not legal. See: the STOCK act. It’s just not enforced.
- lastofthemojito 5y ago"Not enforced" and "legal" are close enough to be considered synonyms in everyday speech. You often hear people say that marijuana is legal in Amsterdam. It is in fact illegal, but it exists in a funny grey area where it is tolerated and police don't enforce laws against recreational marijuana use. Enough that there's an entire "coffeeshop" culture that's sprung up there around marijuana use. So yeah, hearing "there's a law against this but there's no enforcement of that law"...most people shrug and say, "ok, that's legal".
- ipaddr 5y agoIt is decriminalized for personal use. Not exactly the same as not enforced. Not enforced means a cop could decide to enforce this on you for leverage or personal reasons.
- chrismcb 5y agoNo one, in their right mind would confuse "legal"and "not enforced." Most people understand the difference and would not use the synonymously. For one thing, a lot of people with principals would not do something that was illegal, even if it wasn't enforced (at least not knowingly)
- fourstar 5y ago
- paganel 5y ago> but shes averaging 70% a year. Is there a way to "index-fund" Pelosi's investments? More generally, "index-funding" the investments made by politicians who are in a position of power would be a really interesting thing.
- fny 5y agoA lot of this gain has to do with leverage. Her husband loves to buy stock options which juice up typical returns significantly. Not saying there's no insider information, just that the returns are heavily amplified either way.
- burnished 5y agoIsn't it her husband who does her investing, and that is his trade? The claim is less remarkable with this in mind.
- omginternets 5y agoIs it? You don’t think pillow talk factors into this?
- burnished 5y agoFactors? Sure. But I don't think its the big scandal everyone tries to make it out as. Which you can kind of tell because the story never includes any of the pertinent facts, its just boiled down to the most sensational version.
- IAmGraydon 5y agoI did 400% in 2020 and over 500% in 2021. No insider trading here. It is possible.
- smallhands 5y agoplease can we talk ? spikezleedotgmail.com
- RickJWagner 5y agoBah, she's a piker. Hillary Clinton made hundreds of thousands on 'cattle deals', with no knowledge of the workspace and quick turnarounds. But they're not even close to Hunter Biden's league.
- zz865 5y ago> shes averaging 70% a year. Source? Sounds like someone just made it up. This page said they went from 41 to 115 in 14 years, which is more like 12% a year. https://www.opensecrets.org/news/2020/04/majority-of-lawmakers-millionaires/ https://www.opensecrets.org/news/2020/04/majority-of-lawmake...
- deleted 5y ago[deleted]
- fourstar 5y agoMaybe it’s time said “cattle” wake up? All politicians are actors acting in their own self-interest.
- SavantIdiot 5y agoI hate that she's a hypocrite. But there are so many better people then her in the party (e.g., Wyden & AOC), and it's not like I'm going to run and join the dumpster fire known as the QOP. I mean, what is the QOP really doing to help? Nada, they've just made it 12 trillion times worse from 2000-2008 and 2016-2020 (Ignoring the 80's entirely). At least the dems are helping the middle class every day even if some are stealing while doing it. Better than just a cross-shaped boot in the face while stealing.
- NicoJuicy 5y agoHer husband was already a successful investor before Nancy went into politics. And because of their wealth, she could dedicate worked for the party for free for 20 years. Which got her to where she is now. I would be more concerned with presidents who are known to spread/say things to try to influence the market.
- sumedh 5y agoDont forget Chris Collins was caught for giving insider tips to his son and others and was going to jail for that when Trump pardoned him.