An Unusual Whales report revealed Tuesday that members of Congress on both sides of the aisle disclosed $1 billion worth of financial transactions in 2023, an estimate based on the largest amounts disclosed. .
This staggering trading volume has raised concerns that many lawmakers are trading stocks based on information that is not publicly available.
According to the report, the amount of stock trading by members of Congress was down from last year as they sold more stocks than bought them. found.
Both Democrats and Republicans still outperform the market. Democrats even topped the S&P 500, the report said.
Winning against S&P is extremely difficult For stock traders, the challenge is to identify stocks that regularly outperform the S&P.
- Democratic Party It outperformed the index by 7 points (up 31%).
- republican party Although it fell short by 6 points, it increased by 18%.
“Democrats came out on top by a wide margin, thanks to their tech portfolios. Republicans' returns were only about 18%, but still impressive,” the report said. found. “Their portfolios are primarily in financials, oil and commodities, so overall they underperformed. It's been a difficult year with bank failures and high interest rates.”
Some of the most notable market winners are defenders of the known establishment.
- Rep. Dan Crenshaw (R-TX) — 38.2% increase
- Rep. Nancy Pelosi (D-CA) — 65.5% increase
- Sen. Mitch McConnell (R-KY) — 18.1% increase
- Rep. Dan Goldman (D-NY) — 52.8% increase
- Rep. John Curtis (R-UT) — 25.3% increase
Congressman Brian Higgins (D-NY) The Buffalo area was the top trader in Congress last year. FAt first elected In 2005, he served on the Budget and Ways and Means Committees.
- Congressman Brian Higgins (D-NY) — 238.9 percent increase
Learn more about Congressional stock trading starting in 2022.
Follow Wendell Husebo “X” @WendellHusebø.he is the author of politics of slave morality.
