Yes, senators don’t fit in your previous meme/ statement though. Senators start out very rich and very connected almost always, and they multiply their assets using the inside information while in office. House of representatives not so much, much less assets entering and exiting office.
Actually the senators did less suspicious trading, and the senior ones even less so - at least from the older studies (see my next post with an update). Back then, It was the poor upstarts who traded on their information, which was more obvious since the senior guys already figured out how to give their spouses defense contracts or get business venture stakes bought out tax free or other similar loopholes only for DC residents. Professor Ziobrowski is at it again, with an update to his 2004 study on Congressional insider trading:
Article on the updated study
Link to paper
In recent years, Congressmen have outperformed the market by 6% per year, with Democrats taking the lion’s share of the juicy inside news with an average of 9% better while Republicans (being out of favor politically) only beat the rest of us by 2%. Somehow I’m not surprised that the law designed to apply Wall Street standards to Congress hasn’t yet made it to the floor for debate.
From the new page you just linked:
" The latest study shows that members of the Senate outperform their House colleagues by an average of 30 points per month."
That comes out to almost twice the margin above market returns from the house.
Sure, leadership in either would have more access. I didn’t say anything about one party or another.
Senators are also working with much larger numbers in their asset holdings (they nearly all start very rich and connected).
I fixed some of the academic article links in my above posts.
Here’s another more recent one that shows Congress was making up 35% annual returns up until, mysteriously, the STOCK act passed and it was then illegal for them to trade this way.
https://onlinelibrary.wiley.com/doi/abs/10.1111/fire.12180
Article link
I examine the stock trades of members of Congress and find that over 2004–2010 the buy‐minus‐sell portfolios of powerful Republicans have the highest abnormal returns, exceeding 35% on an annual basis under a one‐week holding period. Among powerful Republicans, the abnormal returns are mostly concentrated in the portfolios of those with less trading experience. I also find that the positive abnormal returns disappear after the Stop Trading on Congressional Knowledge (STOCK) Act was passed in 2012.
This is just a line to make the whole “evil rich people” narrative appear a little justified.
How many managers get to just randomly decide to add jobs without having to justify the value? If you werent trying so hard to be blind, it’d be pretty clear that this so-called “line” is about the business, and in turn the ‘wealthy’ business owner, providing jobs - regardless of who actually makes each hiring decision.
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Lol silly cut from crazed octogenarian (Dobbs) to something that resembles reporting… you can see how far away Fox’s entertainment “personalities” are from actual news.
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Don’t worry, we all love to post links of “the truth” to support our positions from the country that Trump’s own Secretary of State says is actively attacking us.
/ going to have to rip out the entire IT infrastructure.
// we rerouted the cyber security money to build some Wall though.
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Yet no one claims the info is false…
“My son is the smartest person I know”
Biden is supposedly going to handle the USA & he is lying on this issue. Saying my son & family has done nothing illegal while I was the sitting VP. Hunter & I never discussed his business, while we were flying to China. Was the China trip just family vacation time?
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I don’t have to make that claim. Per the Secretary of State, the source itself is actively hostile to the US. Anything said is both of questionably veracity (due to the active hostility) and of questionable interpretation (again due to the active hostility).
Somehow, you’ve decided to take the word of a nation that is actively hostile to the US.
Since you would claim the information you post is factual, it is up to you to find sources for it that aren’t hostile nations.
Nonsense. I want to determine if something is true based on if it is true, not based on who’s saying it.
I’m the one not taking anyone’s word. You on the other hand, have chosen to blindly believe an entirely unstated alternative version of events to what’s discussed in those links you so despise. “Unstated” because literally no one has actually refuted the information itself, it’s always about the source.
How is public statements from the secretary of state “an entirely unstated alternative version”? It’s directly stated…
Believing US intelligence over Russian propaganda is hardly “blind” belief. Sure, that doesn’t mean it’s infallible.
Speaking of baseless, this was a nice statistical analysis of Biden’s relative performance in districts using certain voting machine software. With high statistical confidence and not especially in primarily blue counties, Biden votes outperformed demographic based expectations by an extra 5-6% margin when Dominion software was used to count the votes.
the anti-China take from Epoch Times via our Russian friends
Not peer reviewed, but it’s about to get a lot of peers reviewing it.
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Don’t know what you’re talking about, I never provided support for any such narrative nor say that rich people are evil.
I work for a publicly traded company (have worked for more than one before). There is no rich owner. From the mutual fund investors to the board to the CEO and all the way down from there it’s all about making more money. Making more money requires investment in talent. No single benevolent leader required.
I think this started with that article about trickle down economics not working. While the data may support tax cuts for the ultra rich not leading to direct benefits, do you not agree that a low tax environment is more conducive for opportunity and growth?
He’s talking about the links Xerty has been posting for months. Which are always denounced for supposedly being Russian sources, while at the same time never disputing the actual information that’s being brought out of the shadows.
Took over 100 years, but Gen. Lee’s wishes are finally being honored.
Does removal make you happy?
Yes, liberal fanatics want to try and erase history. I know your answer, put those statues in a museum.
Not the same!
Lol. You’re calling General Lee a liberal fanatic. Bless your heart.
Edit:Although I guess it would be accurate to call him a Liberal fanatic. He strongly believed in making progress, and the country putting the pro-slavery rebellion behind it.
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So what! History wants monuments.
As I stand beside the statue, I love to hear the Civil War Stories. You crazies want to destroy history.
Also you must be a racist. (as you say) Gotta talk slavery… Give us a break!!
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