this post was submitted on 27 Mar 2024
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Doesn't that app give more power to congress?
Yeah, I wouldn't be surprised if Warren Buffett's reputation makes him as much or more money than his analysis does because so many people just follow what he does, which pretty much ensures that prices will go up after he buys and down after he sells.
This is just automating the process for Congress. Even if they set it up to avoid the reporting delay by having Congress report their trades directly to the app, Congress would still benefit from this. Outside of the occasional adverse events that have a bigger impact than their followers, but they can predict those better by being on Congress.
A tailwind effect in which their transactions are buoyed by pilers on.