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Members of congress should be required to move all personal investments into blind trusts. There can be a specific kind of blind trust monitored and regulated by the government for elected officials.
@@laserproof it isn't. Only because it keeps the interest of politicians separate from their constituents, whereas a sovereign wealth fund would cover both. It also covers publicly traded companies who are motivated to increase shareholder value, which would also be a benefit to that sovereign wealth fund as a sizable (but never a controlling) shareholder..aka, the US voter. Think of it more like a massive marker maker whose interests serve everyone in aggregate. We need more players like that.
@@ashishpatel350 Are you insane? The 45-day window is there to disadvantage them not us, if they were immediately public their trades would spark mouth watering levels of volatility which is easier for them to capitalize on with options, and use as political leverage.
Not only that, but after they declare a sale, the sale news is made public the same day, but the stocks cannot be sold until a few days later, removing their ability to pump and dump.
Her strategy is simple - her husband has been a successful investor and VC fund manager in Silicon Valley for almost 60 years. That’s the “secret”. She was already rich before entering public office.
Comparing the NANC and XLK etf on portfoliovisualizer they both monthly correlate with each other at 94% No surprise there with the top 4 holdings of NANC being Google, Apple, Microsoft and Nvidia.
Speaking engagement fees, book deals, etc. I'm pretty sure the Clintons would get like $300k every time they gave a talk at Goldman Sachs or Morgan Stanley. I don't know what the laws are around being on a company's Board of Directors, but that also is a pretty cushy gig for powerful and connected people. Oh and you have it backwards - lots of politicians are already wealthy when they decide to run for office.
just cause the stock portfolio isn't outperforming the market doesn't mean they aren't making money, look at the graphs again, overall they're both going up. you also have to take into account that they've been invested for decades, and on top of the hefty salary they also get almost all their living expenses paid, not to mention the campaign contributions, lobby goodies and speaking fees it really isn't a surprise that they're doing so well...imagine if you made 100k and didn't have half your living expenses eating that up, a lot of them were also pretty well off before even entering politics too, it's just a multiplier effect
Mostly selection bias. Generally the only people who can afford to not go to work and spend months campaigning are already wealthy enough to not be working a 9-5.
A bunch of them were already wealthy to begin with. Politics is expensive, so people who run for office usually aren’t some bartender trying to pay off student loans like AOC. Pelosi, for example, is from a wealthy family even before she ran for Congress. At the same time, they can probably make a lot of money with stocks over time without necessarily resorting to insider trading. Moreover, they could be getting more from lobbyists or from plain old corruption (like Bob Menendez in the Senate, but presumably less blatant).
As someone in a very corrupt African country having representatives make money from investing back in the economy is way better than just stealing outright
@@henlo1910 Man here they steal legally the average salary is 40 dollars the reps increased their salary to 8012 dollars they are among the highest-paid people and get all sorts of service awards that can total to 133,600 USD one person in a country that fails to pay people 50 dollars and 20 dollars
The mayor of the town I used to live in makes $107,000.00 from the city. All together, he made over $400,000.00. His office budget said they spent $1,000,000.00 in a building that isn't worth 1,000,000.00. He has a Prevost bus that's wrapped with his picture for his campaign. The city at its longest point is only 7 miles. There were 66 murders in a single year. Drugs are rampant. They don't even do major drug busts there anymore because a lot of the drugs that are confiscated are lost. The entire state is run by Dominican nationals. Corruption is running rampant and unabated.
With regards to Nancy Pelosi. It's worth mentioning that her husband, Paul Pelosi, is the owner and founder of a venture capital firm in Silicon Valley. This also contributes to her rise in net worth.
It's very nice of you to calculate Pelosi & Tuberville index but IMO since they are not disclosing the exact trade size they could have had small trades to add the noise. Even if there's no evidence of wrongdoing it's pretty obvious to me that stock trading by government must be banned. I also wonder why it's 45 days for disclosure, why not 1 day? That would be reasonable. :)
Let’s not be too hard on the politicians. They should be allowed to trade stock but with the condition that they disclose their trades to me after -1 days.
I see. So they start with above average salaries become multi millionaires but it’s not because of insider trading just sheer coincidence. Makes perfect sense.
is the reverse also checked? instead of how they make money from information they get, also on how they vote to keep making their money? it should be very easy to just 100% ban them and their family from playing on the stocksmarket in anyway. and that will be the best solution: it makes sure they don't think about or with their wallet when voting or proposing about rules.
But did they adjust for financial ineptitude, seeing as senators went to law school and whatnot. They probably would underperform indexes severely without an information advantage.
I'd be fine with public officials making 2-4x as much as they currently do if it enforced transparency, severely restricted outside income, and made it much easier for them to fired and even prosecuted for abusing their positions.
Of course it is unfair for congresspeople to be profiting off non-public information, but what really bothers me is the prospect that congresspeople legislate in order to benefit their own material interests.
The fact that our elected leaders are willing and able to invest in stocks creates a major conflict of interest. Sadly it undermines my confidence in the efficient market theory of our stock market to the extent that I'm unwilling to participate in it.
Capitalism is designed to reward people who already own capital. It’s easy to get richer when you’re already rich. You can’t compare wealthy politicians with the average investor because having wealth gives you an advantage and the more capital you own the bigger advantage you have. It’s like saying a casino rigs their games because they have an advantage, when that advantage is built into the games. That’s why we need government regulations because capitalism is the opposite of a fair game and skews the free-market system that is intended to be fair. The mistake people make is to think capitalism and the free-markets are the same thing, but they’re not. Capitalism makes the markets not act freely and only the government is powerful enough to fix that.
we really need to stop calling the US capitalist, it doesn't even operate under those principles; auto bailouts, bank bailouts, EV subsidies...this is pure cronyism
@@موسى_7 Capitalism: An economic system based on the private ownership of the means of production and their operation for profit. I said nothing about communism and I’m not a communist so I don’t know why you brought it up. I mentioned the need for government regulations, not changing our economic system. I understand that most people can’t understand what capitalism is but that’s because they’re confused; not because it’s unknowable. Capitalism is solely about money flowing to people based on their ownership of capital. It’s right there in the name. It’s not the only system we have in America, but when you’re looking at why rich people get richer including politicians, that’s the entire purpose of capitalism. It doesn’t reward hard work or ideas, it rewards ownership of capital. If people are rewarded for their work or ideas, that can’t be due to capitalism.
I wouldn't stop this, I would require that the exchanges post all the purchasing activity that these scum do so that everyone can benefit from their insider knowledge.
It doesn't matter if they "benefit significantly" from insider information or not. It's illegal. They sent Martha Stewart of all people to jail for insider trading. If you and I can't do it then they can't either.
Absurd video. The rule of thumb is you should recuse yourself from any decision where you might benefit. Further, video does not discuss the famous report from the Wall Street Journal last year that showed numerous bureaucrats benefiting from companies they regulated. A clear conflict of interest. Also, if most senators are honest but only a few are not, then of course you won't see huge statistical outperformance by senators.
I guess the question then becomes: What percentage of “bad” congresspeople is acceptable? If it isn’t systemic, statistically significant insider trading, then does it really matter?
@@wmpx34 That's easy to answer. A thought experiment by some libertarian or Cato-Institute type thinktank once concluded insider trading is victimless, in that for every lucky or sneaky winner there's an ignorant loser who would have sold regardless of the inside information. So insider trading is a zero sum game. But that doesn't excuse the fact that Congressmen are breaking the law. Kind of like having sex while on the job. Consensual but sleazy, like that Congressional page a while ago who was videotaped doing it in Congress.
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AI is just the next financial scam.
scam
Members of congress should be required to move all personal investments into blind trusts.
There can be a specific kind of blind trust monitored and regulated by the government for elected officials.
That blind trust should be a Sovereign Wealth Fund instead. One that also covers Social Security. Keep government interest aligned with the people.
This is the best solution. If not, ban it completely because it's clearly a conflict of interest.
@@laserproof it isn't. Only because it keeps the interest of politicians separate from their constituents, whereas a sovereign wealth fund would cover both. It also covers publicly traded companies who are motivated to increase shareholder value, which would also be a benefit to that sovereign wealth fund as a sizable (but never a controlling) shareholder..aka, the US voter.
Think of it more like a massive marker maker whose interests serve everyone in aggregate. We need more players like that.
@@AlexanderTheGoodEnough Yea I like your idea too
@@AlexanderTheGoodEnoughAnd why would any politician ever be motivated to trade if the money didn't benefit them.
As a (self-proclaimed) loyal viewer of this channel, I think that ad was very ironic.
It's definitely a scam
it should be same day not 45 days to report
The 45 day lag makes a big difference
it should be same day
@@ashishpatel350 Are you insane? The 45-day window is there to disadvantage them not us, if they were immediately public their trades would spark mouth watering levels of volatility which is easier for them to capitalize on with options, and use as political leverage.
@@ashishpatel350if there are specific etfs for that …imagine the market volatility when it’s daily
Not only that, but after they declare a sale, the sale news is made public the same day, but the stocks cannot be sold until a few days later, removing their ability to pump and dump.
And that the penalty for not submitting their trades is like $1500 total and nothing else.
Nancy Pelosi should write a book on her strategies. She's doing better than any so called financial consultant.
I'm proud of her. She's a Wall Street genius but she chooses to work in the House. Oh, the sacrifice.😏
Financial UA-cam gurus are blind people leading the blind
And those who knows, they pretend they are dumb
ha, like a very boring wolf of wall street.
Her husband owns a venture capital firm in Silicon Valley. Thats her strategy.
Her strategy is simple - her husband has been a successful investor and VC fund manager in Silicon Valley for almost 60 years.
That’s the “secret”. She was already rich before entering public office.
That's the reason why people who go to work at Congress never want to leave to the day they die😊 more money
Ignore these classes they’re scams
Even if not, isn’t the promise of AI that we don’t have to learn it, as it learns from us.
More like a sales pitch?
Comparing the NANC and XLK etf on portfoliovisualizer they both monthly correlate with each other at 94%
No surprise there with the top 4 holdings of NANC being Google, Apple, Microsoft and Nvidia.
Shame you didn't do options trades for Nancy. Paul had bought a ton of NVDA calls around the 200 strike last year (pre 10:1 split and ITM).
It’s hilarious to me that even mentioned Tuberville. 😂😂😂
Paul Pelosi owns a venture capital firm that specializes in tech. Thats not surprising at all.
would be funnier if she did it with far out of money leap call, would've been super aggressive.
Quiver quant tracks the trades as well as total portfolio composition.
Okay so assuming the stocks aren’t helping, how do they become so rich
Lobbying maybe. That's incredibly sus if that's the case.
Speaking engagement fees, book deals, etc. I'm pretty sure the Clintons would get like $300k every time they gave a talk at Goldman Sachs or Morgan Stanley. I don't know what the laws are around being on a company's Board of Directors, but that also is a pretty cushy gig for powerful and connected people. Oh and you have it backwards - lots of politicians are already wealthy when they decide to run for office.
just cause the stock portfolio isn't outperforming the market doesn't mean they aren't making money, look at the graphs again, overall they're both going up. you also have to take into account that they've been invested for decades, and on top of the hefty salary they also get almost all their living expenses paid, not to mention the campaign contributions, lobby goodies and speaking fees it really isn't a surprise that they're doing so well...imagine if you made 100k and didn't have half your living expenses eating that up, a lot of them were also pretty well off before even entering politics too, it's just a multiplier effect
Mostly selection bias. Generally the only people who can afford to not go to work and spend months campaigning are already wealthy enough to not be working a 9-5.
A bunch of them were already wealthy to begin with. Politics is expensive, so people who run for office usually aren’t some bartender trying to pay off student loans like AOC. Pelosi, for example, is from a wealthy family even before she ran for Congress. At the same time, they can probably make a lot of money with stocks over time without necessarily resorting to insider trading. Moreover, they could be getting more from lobbyists or from plain old corruption (like Bob Menendez in the Senate, but presumably less blatant).
That ad sounded scammy as f
He'll just take any old sponsor for enough cash. No integrity
They shouldn't be allowed to trade while elected.
The counterpoint is that these guys may be trading on insider information, but are below average in business accumen and thus do not always win.
That certainly seems to be the case with Tuberville.
I love how you keep us informed about the world of finances. And it’s so easy to understand. Keep up with the great, exceptional work. Thank you 😊
As someone in a very corrupt African country having representatives make money from investing back in the economy is way better than just stealing outright
That's right, but America can do better than what it is doing today.
the issue is that it's an unfair advantage over the public. if they stole, they could at least be held accountable after the fact
@@henlo1910 Man here they steal legally the average salary is 40 dollars the reps increased their salary to 8012 dollars they are among the highest-paid people and get all sorts of service awards that can total to 133,600 USD one person in a country that fails to pay people 50 dollars and 20 dollars
It's white collar thievery
You do not know what you are saying, brother. These congress men are not investing back in anything. They are the real pros.
Rather or not insider trading is widespread inside congress? You don’t need a video for that the answer is just yes
Asking the hard hitting questions!
Yes, that was really deep investigation, had even charts. I'm convinced, but I don't think anyone else is.
The mayor of the town I used to live in makes $107,000.00 from the city. All together, he made over $400,000.00. His office budget said they spent $1,000,000.00 in a building that isn't worth 1,000,000.00. He has a Prevost bus that's wrapped with his picture for his campaign. The city at its longest point is only 7 miles. There were 66 murders in a single year. Drugs are rampant. They don't even do major drug busts there anymore because a lot of the drugs that are confiscated are lost. The entire state is run by Dominican nationals. Corruption is running rampant and unabated.
Which town?
With regards to Nancy Pelosi.
It's worth mentioning that her husband, Paul Pelosi, is the owner and founder of a venture capital firm in Silicon Valley.
This also contributes to her rise in net worth.
Not just Congress, but close family members need to be in blind trusts.
This was a bit weak analysis. You really needed to assess options as well.
congress is corrupt and all of then do insider trading
just because they're not outperforming the market doesn't mean they're not doing it
The system has some problems it seems.
One or two
Another win for one of UA-cam's best channels. Nice work.
It's very nice of you to calculate Pelosi & Tuberville index but IMO since they are not disclosing the exact trade size they could have had small trades to add the noise.
Even if there's no evidence of wrongdoing it's pretty obvious to me that stock trading by government must be banned. I also wonder why it's 45 days for disclosure, why not 1 day? That would be reasonable. :)
These people should be in jail, yet they run the world
Let’s not be too hard on the politicians. They should be allowed to trade stock but with the condition that they disclose their trades to me after -1 days.
same day on buy, same day on sell news but delayed selling action.
everyone needs to know this!!!!!!!!
no surprise but thanks for covering.
I see. So they start with above average salaries become multi millionaires but it’s not because of insider trading just sheer coincidence. Makes perfect sense.
Good and objective video. Your subscribers will hate you for not mindlessly bashing politicians.
is the reverse also checked? instead of how they make money from information they get, also on how they vote to keep making their money?
it should be very easy to just 100% ban them and their family from playing on the stocksmarket in anyway.
and that will be the best solution: it makes sure they don't think about or with their wallet when voting or proposing about rules.
Nancy pelosi needs to go to jail
Which law did she break?
@@methos-ey9nf She was the first woman Speaker of the House. Therefor she's guilty of "something"
But did they adjust for financial ineptitude, seeing as senators went to law school and whatnot. They probably would underperform indexes severely without an information advantage.
Thanks
Seems like no one even watch this video, they just assume it will confirm what they already believe.
Great Idea 💡 ⭐️ still feel it was a bit "weak" performance ... afraid to hit the Nail ...???😂🎉
I'd be fine with public officials making 2-4x as much as they currently do if it enforced transparency, severely restricted outside income, and made it much easier for them to fired and even prosecuted for abusing their positions.
The real question to ask is how much of that they are paying tax on and not offshoring it through shell companies…
Did this video get shadow banned ? Why so few views ?
In Michael Moore's movie, they all run to the stockbrokers office immediately after passing a law or approving contracts.
Sound like pure coincidence.
Hahaha 😂
That's the whole reason they went into politics. Why else would anyone be a high level public servant.
Near zero because it's near impossible to get away with and you can get sued for saying otherwise
Corruption is so clear and you’re scared to get sued 😂😂
what a sponsor :DDDD
The (dollar) green swamp
Of course it is unfair for congresspeople to be profiting off non-public information, but what really bothers me is the prospect that congresspeople legislate in order to benefit their own material interests.
I have been following the wrong burry all this while
Nice…
So if nothing can happen.....why¿??¿??
The fact that our elected leaders are willing and able to invest in stocks creates a major conflict of interest. Sadly it undermines my confidence in the efficient market theory of our stock market to the extent that I'm unwilling to participate in it.
Rules for thee, not for me
Big if true
Maybe they can rename it from public service to self service
Anyone else notice JOE BIDEN and the BOY
getting a whiff as per usual
Ban reelection......easy as that.
40
FR
Alternative corruption
You really think they are smart enough to trade in the stockmarket?
You haven't been to WSB have you?🤣
@methos-ey9nf They would be day traders, not congressional people.
Easy solution - just ban trading stocks while in office
24th!
corruption at its worse
Capitalism is designed to reward people who already own capital. It’s easy to get richer when you’re already rich. You can’t compare wealthy politicians with the average investor because having wealth gives you an advantage and the more capital you own the bigger advantage you have.
It’s like saying a casino rigs their games because they have an advantage, when that advantage is built into the games. That’s why we need government regulations because capitalism is the opposite of a fair game and skews the free-market system that is intended to be fair.
The mistake people make is to think capitalism and the free-markets are the same thing, but they’re not. Capitalism makes the markets not act freely and only the government is powerful enough to fix that.
Problem is nobody agrees on the definition of capitalism and communism
we really need to stop calling the US capitalist, it doesn't even operate under those principles; auto bailouts, bank bailouts, EV subsidies...this is pure cronyism
@@موسى_7 Capitalism: An economic system based on the private ownership of the means of production and their operation for profit.
I said nothing about communism and I’m not a communist so I don’t know why you brought it up. I mentioned the need for government regulations, not changing our economic system. I understand that most people can’t understand what capitalism is but that’s because they’re confused; not because it’s unknowable.
Capitalism is solely about money flowing to people based on their ownership of capital. It’s right there in the name. It’s not the only system we have in America, but when you’re looking at why rich people get richer including politicians, that’s the entire purpose of capitalism. It doesn’t reward hard work or ideas, it rewards ownership of capital. If people are rewarded for their work or ideas, that can’t be due to capitalism.
Only insider trading when ur not making the rules 😅
👍👍
I wouldn't stop this, I would require that the exchanges post all the purchasing activity that these scum do so that everyone can benefit from their insider knowledge.
So, why mention Tuberville? 😂😂
They write the laws to govern themselves. Only an idiot would fail to leave themselves loophole after loophole until you get the Stock Act
The only investment they and there family should be able to make should be in government bonds
Anyone knows if there's a european version of Pelosi etf? Im either bad at searching or disadvantaged as an EU citizen lol
Just buy a low cost S&P 500 ETF 🇺🇸.
If you used your simple index I'm sure richard burr wouldn't outperform the stock market either. This "evidence" is completely worthless.
2nd!
How much did Nancy pay you to come up with that final conclusion?
"Virus" LOL
3rd ❤
Corrupt congregation
american congress have become a joke
Drain the swamp
Haha I bet that etf has some wired stuff in it, like woke antiwoke hedged positions.
It doesn't matter if they "benefit significantly" from insider information or not. It's illegal. They sent Martha Stewart of all people to jail for insider trading. If you and I can't do it then they can't either.
Absurd video. The rule of thumb is you should recuse yourself from any decision where you might benefit. Further, video does not discuss the famous report from the Wall Street Journal last year that showed numerous bureaucrats benefiting from companies they regulated. A clear conflict of interest. Also, if most senators are honest but only a few are not, then of course you won't see huge statistical outperformance by senators.
I guess the question then becomes: What percentage of “bad” congresspeople is acceptable? If it isn’t systemic, statistically significant insider trading, then does it really matter?
@@wmpx34 That's easy to answer. A thought experiment by some libertarian or Cato-Institute type thinktank once concluded insider trading is victimless, in that for every lucky or sneaky winner there's an ignorant loser who would have sold regardless of the inside information. So insider trading is a zero sum game. But that doesn't excuse the fact that Congressmen are breaking the law. Kind of like having sex while on the job. Consensual but sleazy, like that Congressional page a while ago who was videotaped doing it in Congress.
Who are you trying to convince? lol.