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https://twitter.com/unusual_whales/status/1742207287966777673 https://twitter.com/unusual_whales/status/174220728796677767... Judge for yourself – the data is

• mulmen 3y ago
  Not enough information in that Tweet. Is outperforming SPY abnormal among non-congressional peers? Here’s the actual report: https://unusualwhales.com/politics/article/congress-trading-report-2023 https://unusualwhales.com/politics/article/congress-trading-... From the tl;dr: > Congress beat the market, once again. Of 100 trading members, 33% beat SPY with their portfolios. So 2/3 of congressional traders underperform SPY. This also means the image in the tweet only shows top performers. From later in the analysis: > Note that there are a total of 535 Members of Congress, with 100 in the Senate and 435 in the House. If congress has such useful information for trading why is only 1/5th of congress trading? This 20% is roughly on par with the 15% of the American public directly owning stock.
  • mkmk 3y ago
    Yeah, so coming back to my initial question – I wonder why there isn't more successful insider trading by congresspeople.
    • mulmen 3y ago
      Maybe they don’t have actionable information. Based on what I have seen here there’s no evidence of insider trading in congress. Of course absence of evidence is not evidence of absence. Congress looks a lot like the general population by these numbers. About 20% are active in the market and of that 20% most of them don’t beat it. I’m less concerned with them having non-public information and more concerned with conflicts of interest. If they own Chevron will they still be inclined to pass that EV subsidy?