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TikTokers Are Trading Stocks by Copying What Members of Congress Do

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

#191

Post by cronix »

mercy_dude wrote: post #165
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.

Yeah every time someone comes defending this despicable human being who had got filthy rich in last 40yrs saying it is her husband, I just shake my head and ask when are these people going to retire? How much is enough for these people?

No defense was given. I was simply correcting an incorrect statement the way it was written to make it factually accurate.

I also predicated it with

> Not saying she didn't give him info

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

#192

Post by mrjivraj »

smoldesu wrote: post #186
mrjivraj wrote: post #178

Earlier quoted context omitted.

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?"

dunking on them? seriously?

I literally had one line where I made a joking comment and then applauded their ability to clone and adapt.

you may assuming cloning is a bad thing.

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

#193

Post by npteljes »

cortesoft wrote: post #8
brundolf wrote: post #4

I'm not a market expert, but... my gut tells me this would have some kind of corrective effect, wouldn't it? Amplifying the inside information, allowing others to capitalize on it, would even out the unfairness of the privileged position in some roundabout way, wouldn't it? Obviously scaled by the number of people actually doing this, and with how much money Or- would it have the opposite effect? Would it actually gi…

It would have the opposite effect. If everyone buys stock after you do, you make money because the stock price goes up. I would love it if everyone followed my stock purchases after the fact.

Also similar to how the "pump and dump" strategy works.

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

#194

Post by perl4ever »

Consultant32452 wrote: post #149
perl4ever wrote: post #130

Earlier quoted context omitted.

Would that be an issue if it was owned through an S&P 500 fund? I would agree that options look suspicious, even if they are not "short dated out of the money" types. But mega cap stocks are lot harder to manipulate than some tiny obscure company. I think I read that Barack Obama put all his savings into government bonds while he was in office, which is admirable and maybe it would be good to mandate high level peopl…

The returns don't matter. The conflict of interest matters. If you commit insider trading but wind up losing money you are just a sucky criminal. Blind trust is the only acceptable option. It's been tradition for Presidents through most of my lifetime. Trump didn't do it and it was rightfully a big shit storm.

I'm not seeing the connection with the President or insider trading.

Is there some specific knowledge that Pelosi allegedly traded on, that didn't belong to him?

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

#195

Post by Consultant32452 »

perl4ever wrote: post #194
Consultant32452 wrote: post #149

Earlier quoted context omitted.

The returns don't matter. The conflict of interest matters. If you commit insider trading but wind up losing money you are just a sucky criminal. Blind trust is the only acceptable option. It's been tradition for Presidents through most of my lifetime. Trump didn't do it and it was rightfully a big shit storm.

I'm not seeing the connection with the President or insider trading. Is there some specific knowledge that Pelosi allegedly traded on, that didn't belong to him?

Government officials should not be allowed to spend government funds at or write regulations for companies they own.

Pelosi and indeed all of Congress has non-public information about laws, government contracts, etc. Right now they can and do trade with this "insider" information. Legally this is not considered insider trading. Congress wrote the legal definition of insider trading in such a way that excluded their insider knowledge. There is no value in arguing the semantics of this so I won't address it further.

The traditional solution for this glaring conflict of interest that is used for Presidents is a blind trust. Most Presidents put their wealth in a blind trust to avoid even the potential of a conflict of interest between their actions as President and their personal wealth. Trump did not do this and it was a shit storm. He even tried to get the government to rent out his resort for some UN thing. Presidents and Congress should all be required to put their wealth into a blind trust to avoid conflict of interest.

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

#196

Post by bufferoverflow »

CharlieMunger wrote: post #187
swarnie wrote: post #172

Earlier quoted context omitted.

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,…

Yeah, but what kind of fool would sell BRK.B at $220 in 2021, when you can sell it for more on the stock market?
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