BigRedBuster
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I think in the normal world that would be called insider trading. It is amazing how many congress people go in as 'average Joes' or 'average Janes' and come out as multi-millionaires. Nice gig if you can get it.Note - this article
Do we have a thread discussing congress' stock shenanigans? This is actually a "both sides" issue.
Congress should not be allowed to profit from their insider knowledge. I think a majority of voters, no matter their political affiliation, would agree with that. And yet we have this:
Members of Congress Who Beat $SPY in 2021
Congressman Austin Scott is catching the eyes of investors today following a report on how well politicians’ stocks did compared to SPDR S&P 500 ETF Trust (NYSEARCA:SPY) in 2021.
The list highlights 35 members of Congress that outpaced SPY last year with Austin Scott leading it with his stocks. The Congressman represents Georgia’s 8th congressional district and has been doing so since 2011.
Of the 35 members of Congress on the list, 19 of them are Democrats and 16 of them are Republicans. While not as many Republicans beat out SPY last year, they make up for it with the top five performers all being from the conservative party.
Unusual Whales, the account behind the Austin Scott stocks trend, calls out trades made by politicians in 2021 as unusually timed.
“Big legislative events (such as the Infrastructure Bill getting passed by the Senate) were often preceded by politicians trading in the sectors affected. There were tons of unusual trades where politicians made millions of dollars.”
It’ll be interesting to see how investors react to this list in the coming year. Some may take to following politicians, such as Austin Scott or Nancy Pelosi, when picking stocks to invest in considering how many beat out SPY last year.
This article stems from a tweet by unusual_whales on the twitter, an account that follows the markets.
How many actually come in as "average Jane's and Joe's" anymore? It always seems like the people getting elected are pretty well connected in business circles already.I think in the normal world that would be called insider trading. It is amazing how many congress people go in as 'average Joes' or 'average Janes' and come out as multi-millionaires. Nice gig if you can get it.
Yes, and that creates a shortage all the way up because that’s where they start.I have seen this type of behavior all the time the past twelve years of watching kids playing competitive baseball and it’s a shame. Clay Travis is absolutely wrong here and it’s why there is a shortage of umpires at the lower levels.
https://www.mediaite.com/sports/screw-you-dude-youre-a-loser-clay-travis-goes-off-on-his-11-year-old-sons-little-league-umpire-after-getting-tossed-from-game/
He sucks...Yes, and that creates a shortage all the way up because that’s where they start.
I agree with #1. I don’t agree with #2 because all that does is punish the kids for a dads or coaches actionsHe sucks...
My friend used to ump for that age...when parents got stupid he did one of two things..
1. Toss the parent and refuse to ump until the parent was gone.
2. Never call a strike for that team again for the rest of the game. (It was funny)
Well, it is not ALL it does...it also punishes the a$$h@!e parents.I agree with #1. I don’t agree with #2 because all that does is punish the kids for a dads or coaches actions