Nancy Pelosi who is currently speaker of the house has traded over $74 million in volume since 2020 based on housestockwatcher.com. That is equal to around eight trades a quarter.
In front of congress is a bill to stop representatives and their spouse from trading and holding any investments in stocks while in office has hit a stalemate. Link story here. This is not a surprise considering how much Nancy has invested in the markets. Over $50 million to be exact.
There are more politicians currently trading and some heavily beyond even that of Nancy.
Alan S. Lowenthal making close to 700 transactions in the past three years. Close to being a day trader with those rates.
Josh Gottheimer beats most of his constituents with a shattering 1082 transactions in the past three years. A trading volume totally over $91 million with over $46 million in the markets based on latest filing.
So all the politicians have to post their trades to the public hence sites like housestockwatcher.com is able to accurately list out members of congress and their trades. The politicians are require to post their trades at the end of each calendar quarter.
Conclusions
Retail investors or traders have now one more hurdle to content with when investing. They have to compete with politicians that have insider information to trade ahead of the retail. In a way politicians front run the retail trading.
While majority of US citizens are struggling with the current inflation, housing shortage, supply chain challenges, and energy shortage we lose sight of how much the politicians are earning through trading in the markets.
Wall Street Journal charts Nancy's net worth being in the top 3 richest in the house. That chart is a few years old, considering now estimates that her net worth hovers around $150 million. Below link is further detail story as to how Nancy got her net worth.
https://www.financialsamurai.com/nancy-pelosi-net-worth/
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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