TikTokers Are Trading Stocks by Copying What Members of Congress Do

Re:TikTokers Are Trading Stocks by Copying What Members of C... by hpoe on Tuesday September 21, 2021 @07:27PM (#28611302)

So something you might find interesting there is a website out there https://senatestockwatcher.com/ that reports on the trades made by congress people and one of the things that was discovered is that many congress people have below or only slightly above returns on stock market trading.

That being said as far as I know it is only trades they make so there may be ways around it but just an interesting point of data.

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by yunohn on Tuesday September 21, 2021 @07:45PM (#28611446)

> many congress people have below or only slightly above returns on stock market trading

This is an assumption unsupported by the data or this website.

We do not have accurate position details, nor exact dates and times for the trades, to understand their earnings. Further, Congress members only provide ranges of values for the trades they make, with a significant reporting delay.

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by ceejayoz on Tuesday September 21, 2021 @07:32PM (#28611349)

Is it legal for Members of Congress to pass tips on, to friends and relatives?

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by frellus on Tuesday September 21, 2021 @07:44PM (#28611435)

Technically, insider trading is defined by anyone trading on or passing non-public knowledge to an "outsider".

So, yes.. if a Congress member passed along material information to someone that they traded on, both should get prosecuted. I'm not sure I've seen it happen to politicians in my lifetime, but totally should.

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by olivermarks on Tuesday September 21, 2021 @07:42PM (#28611410)

The 2012 stock act supposedly stopped this https://www.congressionalinstitute.org/2018/08/16/can-member...

Nancy Pelosi's (net worth $112m) recent financial activities with Emhoff make me very dubious about this.

https://fortune.com/2021/07/08/house-speaker-nancy-pelosi-hu...

etc etc

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by ceejayoz on Tuesday September 21, 2021 @07:48PM (#28611470)

> Nancy Pelosi's (net worth $112m)

Significant portions of that are due to her being married to a venture capitalist and real estate investor.

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by olivermarks on Tuesday September 21, 2021 @07:55PM (#28611525)

They make a great team.

Separately I mixed up Paul Pelosi with Emhoff, Kamala Harris's current husband.

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Re:TikTokers Are Trading Stocks by Copying What Members of C... by uptownfunk on Tuesday September 21, 2021 @07:36PM (#28611371)

not legal but not easily detectable either

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