It really helps if you are allowed to do insider trading.
this post was submitted on 16 Jul 2024
602 points (93.9% liked)
News
23376 readers
2137 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Quick math says that's about a 19-20% return annually for the 10yrs since 2014.
The average APY of the S&P 500 over the same time period was about 11-12%.
So definitely way outperforming the market, though maybe achievable with one or two good picks on individual stock?
Definitely not a good look regardless.
It's no real secret. Her husband has been buying tech stock LEAPS this whole time. Her portfolio took a huge hit during the tech sector downturn a few years back. Paul doubled down on the tech stocks which have all shot way back up. He put a bunch of money on Nvidia during the GPU shortage well before all this bullshit AI run. Nvidia is up something stupid like 800% since then.
If anything I'd bet it's because she's connected in Silicon Valley. Nancy has the same info everyone in Congress would. But since her district is in the bay area she gets to rub elbows with the right people.
I actually think a 20% return is modest. She literally has her finger on the pulse of the economy. She should have done better.
Not saying I condone it but if you're going to crime and get away with it, as least go big.
Professional portfolio managers, who do this for a living, with teams of intelligent and educated people working for them, struggle to consistently outperform the market in any meaningful sense.
20% is not modest in any way.
Maybe she still thinks she's being sneaky
load more comments
(1 replies)
Fuck Pelosi. She's a piece of shit. Just another symptom of this collapsing empire. FYI I am a democratic socialist.
I know people who have worked in corporate acquisitions and there are a ton of controls in place to limit information access and prevent the mere appearance of privelged information being used for personal gain. Likewise in other industries like utilities there are pretty complex regulations to prevent companies from getting even a few cents per kilowatt hour advantage, etc. and all this shit has multimillion dollar fines attached.
Congress could definitely adopt a rule that bans trading stocks for anyone who receives classified or nonpublic industry-specific information as part of security briefings or their committee assignments. Or hell, just limit congresspeople to index funds or generic portfolios managed by external fiduciaries, while in office.
It seems that if both Gaetz/Cruz types and AOC agree on this, they could get it done, but the establishment politicians don't want to because they view it as a perk of the job.
AOC and others should just set up an environmentally friendly index based on their inside information. Republicans will put rules in place the same day.
load more comments
(2 replies)
load more comments
(1 replies)
Yes, continue focusing on her and never talk about the Republicans that beat her every year.
just looking at the website, you can tell the target audience is specifically the 1% who want republicans to win. it'll be the same shit with pretty much anything with "business" or "financial" or "economy" in the name of the site
so yea, they will NEVER talk about the insider trading, cheating, fraud, etc. done by republicans
But even in social media, people have been so focused on her while ignoring that she's never #1 (heck, in 2022 she got beat by the S&P500) that I can't help but wonder if there's some underlying misogyny that explains it...
underlying misogyny
it's not underlying, it's blatant, and misogyny is a core part of the GOP platform. yes, republican women are most definitely misogynists
Pretty naive if you think only Republicans are complaining about her trades!
everyone's absolute top priority for the next three and a half months should be keeping trump out of the white house. complaining about dems doesn't help to achieve that objective, it hinders it. when trump loses, by all means--criticize all the dems all the time. but at this point, bOtHsIdEs-ing anything is accomplishing nothing but strengthening an R win and weakening D
load more comments
(1 replies)
Whataboutism shouldn't be used by either side. She shouldn't be doing it.
load more comments
(1 replies)
Would you care to list them so the conversation can be more complete?
Copying a comment from a couple of weeks ago, the source is the website that made everyone really start paying attention to her by posting an infographic that made it easy to visualize the gains compared to the S&P500 but somehow it's only Pelosi that people complain about
2021 she's 6th behind 5 Republicans, 2022 she's under the S&P500 in 27th place, 2023 she's in 9th place
https://unusualwhales.com/politics/article/congress-trading-report-2022
https://unusualwhales.com/politics/article/congress-trading-report-2023
load more comments
(2 replies)
She's not even in the top 5 for Congress, why does she catch all the flack?
I presume it's because she's seen in somewhat of a "senior leadership" position.
Johnny Beluga, the esteemed congressman from butt-munch, Iowa might have five times more illicit gains than her, but no one knows who he is, so fewer people would watch the news to hear about him.
load more comments
(7 replies)
load more comments
(2 replies)
She’s known as “nance in advance” in trading circles. Some funds follow her investments.
There’s an ETF called NANC that allows you to invest in line with her portfolio. There’s also one called KRUZ that follows Ted Cruz.
https://www.cnbc.com/select/congressional-stock-trading-could-soon-be-tracked/
Looks like NANC is for all Democrat member trades, and KRUZ is for all Republican member trades. If you're wondering, NANC has +32% standardized pre-tax returns, while KRUZ has +19.1% standardized pre-tax returns.
load more comments
(1 replies)
Semi unrelated question (also only semi serious): is there a program or script that can follow a person's trades and make similar trades? Or is she one that, by the time the public knows, it's already too late to jump on the bandwagon?
By the time the trade is disclosed it's been like a month and you may be part of the exit liquidity
There is a congressional rule that requires individual stock trades of certain amounts to be publicly disclosed within 45 days. However this is apparently not really enforced right now.
Some bipartisan congresspeople have proposed more restrictive rules and bans on stock trading, but those efforts haven't gained traction yet.
Look up Quiver Quantative. They actually track investment portfolios of members of the House and Senate and send out newsletters.
load more comments
(3 replies)
One of biggest crooks but not the biggest by far. Anyone who isn't in government and gets that kind of return would have all the financial bureaucracies all up their ass.
I despise that woman. When people say the left is as bad as the current GOP, she is who they’re looking at.
I've managed 60ish% in 3ish years.
Would be higher but i was invested in Cineworld... that was a sore time
load more comments
(2 replies)
Wish the FBI would investigate for corruption like they did here: https://www.wikipedia.org/wiki/Abscam
load more comments
(1 replies)
These sites were collecting hand-transcribed data from congress trading disclosures. Unfortunately, the disclosures were almost always made long after the trades. Perhaps that's why no volunteers have been transcribing data recently.
I'm surprised everyone focuses on insider trading. To me the much bigger risk is: shouldn't your decisions affecting the country be unaffected by stocks you own? If you own $10 million of Apple stock for example, how does that affect your vote on an antitrust law? This is a problem even if there's no inside information.
4 month old account with only this post. Not suspicious at all /s
I mean... that's not that new. And most people are just lurkers anyways.
load more comments
(7 replies)
view more: next ›