"And we see abnormal positive returns when there's a disclosure by a senator." "Investors perceive that senators may have insider information," he said. His ongoing research suggests that it does. And I posted it actually to Reddit, where it gained some significant traction and people showed a lot of interest in it," Carambat said.ĭinesh Hasija, an assistant professor of strategic management at Augusta University in Georgia, has been studying whether the market moves based on congressional disclosures. "I knocked out a very, very simple version of the project in like a couple of hours. He says there is a significant following for his work. That's according to Tim Carambat, who in 2020 created and now maintains two public databases of lawmaker financial transactions - House Stock Watcher and Senate Stock Watcher. So far this year, Senate and House members have filed more than 4,000 financial trading disclosures - with at least $315 million of stocks and bonds bought or sold. Pelosi is hardly the only lawmaker making these stock disclosures. Still Josephs views trades by federal lawmakers as "smart money" worth following and plans to track a large variety of politicians. the next one she does, I'm going to buy."īusiness A Chinese Real Estate Company Is Walloping Your Stocks. 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.
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Now on Josephs' social investing platform, you can get a push notification every time Pelosi's stock trading disclosures are released. In the past year and a half, he has 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. Josephs is the co-founder of a company called Iris, which shows other people's stock trades. Last year, Josephs noticed that the trades, actually made by Pelosi's investor husband and merely disclosed by the speaker, were performing well. "And you would have known if you had followed her portfolio." "She knew," declared Chris Josephs, analyzing a particular trade in Pelosi's financial disclosures. "Shouts out to Nancy Pelosi, the stock market's biggest whale," said user 'ceowatchlist.' Another said, "I've come to the conclusion that Nancy Pelosi is a psychic," while adding that she is the "queen of investing." One user called Pelosi the market's "biggest whale," while another called her the "queen of investors have a new strategy: watching financial disclosures of sitting members of Congress for stock tips.Īmong a certain community of individual investors on TikTok, House Speaker Nancy Pelosi's stock trading disclosures are a treasure trove.
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But his trading activities shot into the news in July, when he made a cool $5.3 million by exercising call options that let him buy 4,000 shares of Google parent company Alphabet.A community of young investors on TikTok, including and are using House Speaker Nancy Pelosi's stock trading disclosures as inspiration for where to invest themselves. Pelosi has reported many stock trades carried out by her husband, Paul, over the last few years. It means the general public can view Pelosi's – or, more specifically, Pelosi's husband's – often highly successful trades. But why? A fateful Alphabet betĬentral to the story of how Pelosi became one of the biggest memes on Wall Street is US legislation that forces lawmakers to disclose their and their family's trading activity.
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And investing TikTok accounts are getting tens of thousands of views on clips about Pelosi's moves in the market. Pelosi has become a regular feature on the biggest financial meme pages such as Litquidity and Parik Patel. Move over GameStop and dogecoin, the investing world got a new meme in 2021: Nancy Pelosi, the Speaker of the United States House of Representatives, and star stock-picker.