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The comment I responded to said that members of Congress consistently outperform professional traders. This doesn’t show that.
by alphabettsy 3y ago
The comment I responded to said that members of Congress consistently outperform professional traders. This doesn’t show that.
- godelski 3y agoI think there's a context gap here. They are referring to congress on average. But the median congress member does not beat SPY. The distribution is highly heterogeneous. Even just looking at number of transactions, half of each party's transactions are performed by a single member of that party. So to translate: > Congress consistently outperforms professional traders to > The average performance of members of congress is higher than that of professional traders. This does not mean a specific member outperforms a specific trader. Though there are specific members who consistently have a performance level that is higher than top traders. Which should beg the question of why these people have such high "skill" levels. This also does not mean there aren't congressional members who lost money in the market (there were 19 actually).