Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

TikTokers Are Trading Stocks by Copying What Members of Congress Do

text.npr.org

Post reply on HN
Print view View original

181–190 of 196 posts

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#181

Post by qwertyuiop_ »

lostcolony wrote: post #96
DevKoala wrote: post #86

Earlier quoted context omitted.

Ehh, Nancy Pelosi beats most hedge fund managers consistently year over year. https://unusualwhales.com/i_am_the_senate/pelosi

Yeah, but take the random trades of 435 people and a normal distribution is still going to have a top (and bottom!) outlier. It's certainly reasonable to assume an investment manager (her husband, who is making most of the trades) might be part of the reason to be such an outlier. And even discounting that and looking for shenanigans, well..."she timed buying NFLX almost perfectly" with a purchase a month before it w…

“It’s a big club and you ain’t in it” - George Carlin

https://www.youtube.com/watch?v=Nyvxt1svxso

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#182

Post by ceejayoz »

danuker wrote: post #169
ipaddr wrote: post #152

Earlier quoted context omitted.

They have insiders knowledge and they are trading on that. It is legal insider trading.

Why is it legal?

It isn't since 2012.

https://en.wikipedia.org/wiki/STOCK_Act

Proving you've done it can be hard, though.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#183

Post by [deleted] »

ummwhat wrote: post #90
brundolf wrote: post #81

Earlier quoted context omitted.

Right, but if it gets enough awareness and has enough direct negative impact on people (particularly people with money and influence), it could become enough of a hot-button issue that lawmakers are pressured to write that law

Lawmakers are not going to write a law whose sole purpose is indicting lawmakers.

[deleted]

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#184

Post by smaryjerry »

jasonwatkinspdx wrote: post #119
qwertyuiop_ wrote: post #114

Earlier quoted context omitted.

He has magical superpowers and just happens to be the husband of a policy maker that drives trillions in government spending.

Roughly 9 out of 10 hedge funds fail to beat the market or simple passive strategies indexed to it. I'm no fan of Pelosi personally, but observing her husbands performance isn't smoking gun evidence, it's just banal. Also, consider that a lot of what hedge funds offer is bespoke risk profiles to high net wealth individuals that are overexposed to particular market sectors.

I don’t think anyone ever claimed a smoking gun here. As the article says they were investigated but not charged.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#185

Post by smaryjerry »

cronix wrote: post #93
DevKoala wrote: post #86

Earlier quoted context omitted.

Ehh, Nancy Pelosi beats most hedge fund managers consistently year over year. https://unusualwhales.com/i_am_the_senate/pelosi

* Nancy Pelosi's husband, Paul Not saying she didn't give him info, but she didn't do the actual trades. He's an investment manager. > Paul Pelosi, investment manager and the husband of House Speaker Nancy Pelosi, purchased up to $11 million worth of mega-cap tech stocks in May and June, according to a financial disclosure form filed last week. https://markets.businessinsider.com/news/stocks/nancy-pelosi...

You don’t even need to know insider information about companies to make smart decisions if you a family member of Congress especially the leader of the entire Democratic Party, which currently controls the house, senate, and presidency. You only need to know what laws are likely to get passed in advance and consider how that will effect companies. Helps to have the person who leads and publicly threatens other democrats for their vote on items.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#186

Post by smoldesu »

mrjivraj wrote: post #178
CharlieMunger wrote: post #60

Earlier quoted context omitted.

There's a community on Reddit that studies Berkshire's purchases (investments made by Buffett/Weschler/Combs) and tries to follow, purchasing only below what Berkshire paid: https://old.reddit.com/r/brkb/ For example, in 2020 and early 2021 Berkshire paid $59 for Verizon, buying $9 billion worth (a huge Buffett/Weschler telecom investment). Verizon now trades at about $54, so this community is buying.

Cool - didn't know about that! But, yes Shameless Cloning Can Lead to Financial Success :) I actually wrote about it here: https://playingfordoubles.substack.com/p/shameless-cloning-c...

It's a little hard to take you seriously when you seem to dedicate the first 4 paragraphs to dunking on Microsoft. Windows is no more of a Mac clone than MacOS is a Xerox PARC clone. Word is just a rich text editor, same as Excel is database software and Bing is a search engine. Call it whatever you like, but people all-too-soon forget that the root of all software development is "I wonder if I could do this better?"

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#187

Post by CharlieMunger »

swarnie wrote: post #172
CharlieMunger wrote: post #60

Earlier quoted context omitted.

There's a community on Reddit that studies Berkshire's purchases (investments made by Buffett/Weschler/Combs) and tries to follow, purchasing only below what Berkshire paid: https://old.reddit.com/r/brkb/ For example, in 2020 and early 2021 Berkshire paid $59 for Verizon, buying $9 billion worth (a huge Buffett/Weschler telecom investment). Verizon now trades at about $54, so this community is buying.

At this point why are you not just buying BRK-B?

We do that, too. For example, one of those Redditors owns 22,612 BRK.B shares and has been buying since late 2002.

Berkshire spent $25 billion in 2020 (all of its operating earnings) on buybacks at an average price of $205 per BRK.B share. That buying continued at almost the same pace in 2021 and the average price paid is $220 per BRK.B share.

We can't buy at that buyback price today, but many of us would gladly pay, say, $250 per share for BRK.B.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#188

Post by throwawayswede »

krageon wrote: post #173
throwawayswede wrote: post #154

Earlier quoted context omitted.

As a non-American, how is this legal? I was under the impression that financial trading is highly regulated in the US. I mean the possibility of her not giving insider info to her husband is very slim to none imo.

In the US, when you have a lot of money you are above the law.

I get that, but in this case it seems like the opposite. If you have the law then you have a lot of money.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#189

Post by hardolaf »

qwertyuiop_ wrote: post #114
cronix wrote: post #93

Earlier quoted context omitted.

* Nancy Pelosi's husband, Paul Not saying she didn't give him info, but she didn't do the actual trades. He's an investment manager. > Paul Pelosi, investment manager and the husband of House Speaker Nancy Pelosi, purchased up to $11 million worth of mega-cap tech stocks in May and June, according to a financial disclosure form filed last week. https://markets.businessinsider.com/news/stocks/nancy-pelosi...

He has magical superpowers and just happens to be the husband of a policy maker that drives trillions in government spending.

Ah yes. The classic mega insider trading of... buying Apple stock. Yes, only the most non-obvious and insiderest trading ever imagine. Next you're going to accuse me of "insider trading" for moving all of my assets into the ARKG when it became clear COVID-19 was going to be declared a pandemic.

Re: TikTokers Are Trading Stocks by Copying What Members of Congress Do

#190

Post by kbenson »

mieses wrote: post #146
kbenson wrote: post #138

Earlier quoted context omitted.

Maybe. Or maybe by nature of his relationship he gets approached more for interesting opportunities? Is Dr Dre an amazing talent scout, or was he out and about and by nature of his own fame approached by artists such that he could pick the obvious good opportunitie? Or maybe both apply? Perhaps having money, power or fame is an attractor of opportunities all on its own. It doesn't have to be that, but "better than av…

He would also be approached more often with poor investing opportunities.

That only really matters if you think he can't see good from bad at all. Even if he just ignored most and only acted on things that looked phenomenal, he might see more of those than the average person.
Post reply on HN