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People act like the pervasiveness of insider trading in Congress is an indisputable fact, when there have been only a few trades with suspicious timing, which i
by Aunche 6mo ago
People act like the pervasiveness of insider trading in Congress is an indisputable fact, when there have been only a few trades with suspicious timing, which is similar to what you would expect statistically from 535 wealthier people trading with no insider information. The only case where I feel like insider trading is likely was Richard Burr's sales before COVID.
- bbwbsb 6mo agoCongress (plausibly) beats the market: https://www.ft.com/content/14339d5b-5a5f-4e4a-8293-ff3a2e25d526?syn-25a6b1a6=1 https://www.ft.com/content/14339d5b-5a5f-4e4a-8293-ff3a2e25d... Pelosi has made many suspicious trades: https://insider-trading.org/the-nancy-pelosi-insider-trading-controversy/ https://insider-trading.org/the-nancy-pelosi-insider-trading... Suspicious trades before Trump's Iran announcements: https://www.bbc.com/news/articles/cge0grppe3po https://www.bbc.com/news/articles/cge0grppe3po
- Aunche 6mo agoBeating the market isn't evidence of insider trading. Everyone invested deeply in tech beat the market, which is what Paul Pelosi did. If he did trade with insider information, he did it in a way that was subtle enough to look sufficiently like normal trading. This is nothing like the smoking gun of a 4x spike on oil futures 1 hour before a major announcement or a hyperspecific bet on Polymarket.
- muddi900 6mo agoBut the suggestion a bunch of Lawyers are better traders than average also stretches creduility. Somehow, Congress beating the market simply on savvy is huge ask to believe.
- Aunche 6mo agoThat article is about certain individuals, not Congress as a whole. By definition, some individuals are going better than average.