(FiveNation.com)- It is way past time to stop members of Congress from engaging in stock trading.
Members of Congress have again outperformed the market even though this was the worst year for stocks since 2008.
In 2022, the S&P 500 saw a decline of 18%. On a year-over-year basis, Democrats only saw a loss of 1.76%, while Republicans saw a gain of .389%.
Members of Congress made significant amounts of money off of defense stocks.
Purchasing defense equities during the Ukraine conflict was profitable for Democrats and Republicans.
While Republicans were able to sell a somewhat more significant number of equities in 2022, Democrats were able to purchase a far greater number.
Pelosi saw a less successful year in 2022 after having huge years in both 2020 and 2021.
In 2022, the Pelosi family business experienced a drop in revenue. They saw tremendous growth and enormous returns in the years 2021 and 2020. There are papers that were penned outlining her trading strategy. In addition, there were also a number of free ETFs so that you could follow her movements.
Pelosi had a horrible year with options, during which her deep ITM call approach for her technical plays did not pay out very well in 2022. She exercised most of her plays that had expired at a loss and then sold those stocks as soon as possible.
Pelosi also increased her investment in REOF by around 350,000 dollars by purchasing a 50,000-dollar stake in the limited liability company, REOF LLC. In the end, Pelosi’s plans were successful in 2020 and 2021, but they were unsuccessful as interest rates increased.
In 2021, House Speaker Nancy Pelosi denied rumors that her husband had made financial trades based on any information she had supplied to him.
Pelosi responded emphatically “absolutely not” when a reporter asked her at a press conference whether her husband, Paul Pelosi, had ever invested in stocks using “information he had obtained from you.”
The Speaker of the House, Nancy Pelosi’s husband, is a prominent venture capitalist and serial investor. He had gained tens of millions of dollars in profits through trading stocks and stock options involving 19 different companies.
The report was made public in July and stated that the speaker’s husband had recently exercised 200 call options, which equate to 20,000 shares of NVIDIA and are worth between $1 million and $5 million.
Is this the result of corruption?
Why should it be left to speculation?
Congress should not be allowed to invest. It is a conflict of interest (Pun intended.)