Among a certain community of individual investors on TikTok, - House Speaker Nancy Pelosi’s stock trading Posted: Sep 25th, 2021 - 2:21 pm
disclosures are a treasure trove.
“She knew,” declared Chris Josephs, analyzing a particular trade in Pelosi’s financial disclosures. “And you would have known if you had followed her portfolio.”
Last year Josephs noticed that the trades, actually made by Pelosi’s investor husband and merely disclosed by the Speaker, were performing well.
Josephs is the co-founder of a company called Iris, which shows other people’s stock trades. In the last year and a half, he’s been taking advantage of a law called the Stock Act, which requires lawmakers to disclose stock trades and those of their spouses within 45 days.
Now on Josephs’ social investing platform, you can get a push notification every time Pelosi’s stock trading disclosures are released. He is personally investing when he sees which stocks are picked: “I’m at the point where if you can’t beat them, join them,” Josephs told NPR, adding that if he sees trades on her disclosures, “I typically do buy… the next one she does, I’m going to buy.”
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Professor Dinesh Hasija, an assistant professor of strategic management at Augusta University, has been studying whether the market moves based on Congressional disclosures. His ongoing research suggests that it does.
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Both investors and government watchdogs are interested in these trades because of the possibility that lawmakers could use the private information they obtain through their jobs for money-making investment decisions.
“If the situation is that the public has lost so much trust in government that they think… the stock trades of members are based on corruption, and that [following that] corruption could benefit [them]. … We have a significant problem,” said Kedric Payne, Senior Director of Ethics at the Campaign Legal Center.
LINK/URL: Among a certain community of individual investors on TikTok,
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