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- cross-posted to:
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The delay in reporting makes the information somewhat useless. Here is Gerry Connolly’s (D, House, Va) recent transaction of Dominion Energy for example. He sold and by the time it is reported the stock already crashed.
Nancy Pelosi’s trade of Forge Investments. Notice that by the time it is published it had already started going down.
I did not cherry pick these by any means. I just picked the first sell and buy on the list.
And that’s with the delay…
But the more people buy after they buy, the more they make.
No one is “sticking it to the man” doing this, they’re making “the man” even more money by following behind them,.
Yeah looks like there’s at least a week of delay. I would love to see some data about this.
The stock market is a scam and should be abolished.
would that involve getting rid of publicly traded/owned companies? would that in turn mean only one person could own a company and not allow investments?
would that involve getting rid of publicly traded/owned companies?
no
would that in turn mean only one person could own a company and not allow investments?
also no
Then what’s the alternative?
Some eutopia idea they will never come close to implementing. Here’s a reasonable fix for the stock market.
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Have capital gains add to income instead of having a separate tax rate. (Really unlikely) Keep the exception on the first half million.
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Remove the duty to investors that publicly traded companies have. (Also crazy unlikely)
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Require all shares in a company pay out annual dividends tired to gross profit. Let’s say 1% of gross profit must be handed out as dividends. (Unlikely, but not absurdly so)
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Institute a 1% per-trade tax paid by the buyer. (Never gonna happen)
Anyway, we’re fucked.
I don’t understand the reason for #3 - could you explain?
The rest are great - number one is my personal favourite, too, since it would either result in much more money for the government to invest or (if the tax income stays the same) much lower taxes for most people
many stocks are fantasy values, which are disconnected from the actual performance of the underlying company. #3 would reconnect the stockvalue to the company value (my guess)
Yeah pretty much. It would increase the amount of value the stock holds that’s directly tied to the performance of the company. Comparatively, then, buying and selling for a profit would be less attractive. Buying and holding would be more attractive.
You’d have to play with the numbers to get it to an “ideal” ratio, and fantasy and speculative stocks would still exist, but it would still help reduce their prevalence.
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I think you can do it via Quiver Quantatative, but there’s some sort of fee structure. https://www.quiverquant.com/congresstrading
Theoretically, there are reporting requirements and the trades are public knowledge. Don’t know where that information lives though.
You can go through publicly available government contracts like those used by FEMA, and see what corporations are getting what money. I like to cross reference the boards of the companies with congressional members and invest in ones where they have Congress people from both isles.
There’s a lot of them…
first result on duckduckgo my man https://www.capitoltrades.com/trades
How is this post an empty text link to a lemmynsfw post for me without an edit mark yet everyone else seems to be replying to something tangible‽
It’s a picture for me, a meme of IASIP, very SFW. Did you block lemmynsfw? Or filter pictures generally/from a specific instance?
The problem with this is the delay in reporting. By the time the info is public, the value has usually already changed. Has anyone modeled this with historic information? How does it compare to the S&P500?
The problem with this is the delay in reporting. By the time the info is public, the value has usually already changed
Which is by design, of course. That way congresspeople get the inside track of the trading, helping them profit from their insider information before anyone else knows.
Not at all something that’s illegal to do for everyone else, nuh-uh! 😠
How does it compare to the S&P500?
They consistently outperform the market, of course. Like most people engaging in insider trading do.
We shouldn’t be able to trade municipal securities, they shouldn’t even exist yet here we are.
Seems like a pretty even mix of both parties, the motherfuckers.
Make one for blackrock so I can afford to retire.
It’s called “Accessorr-ė”
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