3 ms·
> There's nothing about being a Congressperson that lends itself better to the kinds of knowledge or intelligence that would increase the chances of betting wel
by geysersam 4y ago
> There's nothing about being a Congressperson that lends itself better to the kinds of knowledge or intelligence that would increase the chances of betting well on the stock market
How do you know that? Their outcomes indicate otherwise.
They're clearly in some regards quite exceptional people.
- TheOtherHobbes 4y agoHow do their exceptional investment insights fare after they leave Congress (and, for completeness, the Senate.)
- geysersam 4y agoI don't know. It'd be interesting to know. But I imagine there's less public information about their investments after their terms end, no? In any case. I'm not saying there is no insider trading going on in Congress. After all, there are hundreds of representatives. Of course some are greedy idiots, and some even criminals. But the majority, and I believe thats a large majority, are honest people who care about the people they represent.
- danaris 4y ago> Their outcomes indicate otherwise. This is assuming the consequent. There are two possible explanations being proposed for the observed outcome "Congresspeople do better than average at the stock market." I am proposing the explanation "they are engaging in insider trading," and proposing evidence to support that. You are proposing the explanation "they're just better at it", and giving as evidence solely the outcome we are attempting to explain. It's circular.
- geysersam 4y agoSure, we both lack evidence. However, my view is that people, even congresspeople, deserve the benefit of doubt.