opinion
Former House Speaker and Democratic Congresswoman Nancy Pelosi of California made a whopping 65% of her stock trading portfolio last year.
At least according to an analysis of House members' financial disclosure records.
She is not even the most profitable member of Congress on this front, although she is near the top.
RELATED: Republicans criticize Biden for taking leave during border crisis
“Pelosi was not alone, as other members of Congress were happy with the choices among top-performing investors,” the New York Post reported. These included Rep. Mark Green (R-Tenn.), who recorded a return of more than 122%; and Rep. Josh Gottheimer (D of New Jersey), which rose by more than 25%.
“Unlike buying individual stocks, options allow for more leverage, which means more exposure to the stock and a larger reward if the bet is correct,” the newspaper noted. “Options can also be an indicator that an investor has access to inside information, according to ethics watchdogs.”
I thought?
It's no secret that Pelosi and her husband, Paul, a San Francisco venture capitalist, have long profited greatly from the stock portfolio they jointly own.
The duo's profits for 2023 were due to trading options contracts.
The story continued:
Pelosi's 2023 returns stand in stark contrast to 2022, when her portfolio fell 19.8% — worse than the 18.2% decline in ETFs tracking the S&P 500, according to a 100-page report by Unusual Whales.
At the time, Pelosi's portfolio took a hit after she and her husband, technology investor Paul Pelosi, announced they had sold 25,000 shares of Nvidia stock at an average price of $165.05 per share.
The sale — which reportedly took place when it was under fire for blocking legislation that would have regulated stock trading in Congress — resulted in a loss of more than $341,000, according to financial filings.
However, late last month, securities filings showed that Belosis was taking on Nvidia once again.
Something looks suspicious
“The
The deal was completed last December and was worth $2 million. According to unusual whales.
The disclosure form showed the amount ranging from $1 million to $5 million.
Congress trade chirp“Pelosi bet millions of dollars on NVDA in November using call options. Using a deceptive tactic, she deliberately disclosed it on the Friday before the Christmas holiday to avoid media coverage.
RELATED: Bill Engvall slams comedy audience for wanting to be offended – 'I just want to do my stand-up'
It is 'corrupt and should be banned'
“It's a sign of corrupt near-insider trading and should be banned — it's either an addiction to risk or a sign of corruption,” Jeff Hauser, director of the Revolving Door Project, told the New York Post of Pelosi's earnings. “There are teams of people at sophisticated hedge funds that exist to find simple arbitrage opportunities to make a profit. It is unreasonable to think that they find profit when Bridgewater or Renaissance Capital misses it.”
When Pelosi Requested In 2022 on whether or not members of Congress should be banned from the stock market, she responded: “We are a free market economy. “And Congress should be able to participate in that.”
Just a “free market”. Indeed it is.
It's time to support and share the sources you trust.
The Policy Insider ranks third on Feedspot's “Top 100 Political Blogs and Websites” list.
