{"id":1210849,"date":"2022-01-12T11:49:13","date_gmt":"2022-01-12T16:49:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1210849"},"modified":"2022-01-12T11:49:18","modified_gmt":"2022-01-12T16:49:18","slug":"report-congress-beat-the-market-in-trading-for-2021","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-congress-beat-the-market-in-trading-for-2021\/","title":{"rendered":"Report: Congress Beat the Market in Trading for 2021"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-congress-beat-the-market-in-trading-for-2021%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1210849&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-936958742-e1522093800269.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">Congress beat the market, on average, with its millions of dollars of trades in 2021, according to watchdog organization&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">Unusual Whales<\/a>.<\/p>\n<p>Members of Congress bought and sold close to $290 million in stocks, $140 million in options contracts, $124 million in other securities like private equity funds, and $500k in cryptocurrencies during 2021.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>In addition, House representatives held stocks for an average time of 134 days compared to 128 days for Senators.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8BREAKING NEWS\ud83d\udea8<\/p>\n<p>I have just released the full trading report on politicians in 2021.<\/p>\n<p>In short, many beat the market.<\/p>\n<p>They traded more than ever before.<\/p>\n<p>And they made numerous unusually timed trades, resulting in huge gains.<\/p>\n<p>Read it here: <a href=\"https:\/\/t.co\/CQ6JphecwZ\">https:\/\/t.co\/CQ6JphecwZ<\/a> <a href=\"https:\/\/t.co\/ra9DEjV0ok\">pic.twitter.com\/ra9DEjV0ok<\/a><\/p>\n<p>\u2014 unusual_whales (@unusual_whales) <a href=\"https:\/\/twitter.com\/unusual_whales\/status\/1480656947577860096?ref_src=twsrc%5Etfw\">January 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>Beating the market was a bipartisan&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">effort<\/a>, with both Republicans and Democrats in the House and Senate having higher returns than the SPDR S&amp;P 500 ETF ($SPY), which \u201cseeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&amp;P 500 Index.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Unusual Whales found $SPY returns to be +13.6 percent for the year. However, House Democrats and Republicans had average returns of +14.7 percent. Additionally, Senate Democrats were up +15.4 percent, and Senate Republicans were up just under +13 percent. Therefore, Unusual Whales concluded that, on average, Congress beat the market.<\/p>\n<p>A collection of 35 members of Congress had individual portfolios that beat $SPY last year. Of those, 16 were Republicans, and 19 were Democrats. These include prominent politicians like Reps. Dan Crenshaw(R-TX), Nancy Pelosi (D-CA), Ron Wyden (D-OR), and Sens. Mitch McConnell (R-KY), and Tommy Tuberville (R-AL).<\/p>\n<p>Some of the largest&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">trades<\/a>&nbsp;come from Rep. Suzan DelBene\u2019s (D-WA) family selling up to $25 million in Microsoft stock in September and October. In November. Sen. Bill Hagerty (R-TN) sold off $5 million in tech company Datadog\u2019s stock.<\/p>\n<p>The busiest congressional&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">traders<\/a>&nbsp;were Reps. Josh Gottheimer (D-NJ), Marie Newman (D-IL), Susie Lee (D-NV) and Zoe Lofgren (D-CA), in the House. Senators John Boozman (R-AR) and Tuberville were the busiest Senate traders, according to Unusual Whales.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Nancy Pelosi&#8217;s husband, Paul Pelosi, reportedly made massive bets on stock prior to the antitrust legislation vote in committee, securing large sums of money. <a href=\"https:\/\/t.co\/6RKldIy5DW\">https:\/\/t.co\/6RKldIy5DW<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1413704881429532672?ref_src=twsrc%5Etfw\">July 10, 2021<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>The organization also called attention to several \u201c<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">unusual trades<\/a>\u201d that took place throughout the year. Notably, Rep. Brian Mast (R-FL) bought Tilray stock, a marijuana company, before voting for a marijuana-related bill. Subsequently, Mast sold Tilray at its all-time high for returns of +563 percent.<\/p>\n<p>Multiple members had unusual trades of Lockheed Martin ($LMT) stocks. For example, Rep. Kevin Hern (R-OK), a member of the House Budget Committee, bought a second round of up to $100K in $LMT stock two weeks before&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/www.defensenews.com\/air\/2021\/11\/05\/lockheed-wins-109b-contract-to-modernize-f-22\/\" target=\"_blank\" rel=\"noopener\">news<\/a>&nbsp;broke that Lockheed won a $10.9 billion contract with the federal government.<\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Rep. Kathy Manning (D-NC), a House Foreign Affairs Committee member, also bought up to $30,000 in Lockheed stock two weeks before the multibillion-dollar contract.<\/p>\n<p>Congressional stock trading&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/www.businessinsider.com\/we-are-free-market-economy-pelosi-rejects-stock-ban-congress-2021-12\" target=\"_blank\" rel=\"noopener\">advocate<\/a>&nbsp;Nancy Pelosi added to the list of unusual trades. As Unusual Whales explains:<\/p>\n<blockquote>\n<p>The US Army first announced a $22B augmented reality deal with Microsoft on March 31, 2021 and reiterated its commitment to this partnership in October. Speaker Nancy Pelosi disclosed exercising 150 calls on March 19, 2021 at a strike price of $130. She\u2019s up 160%.<\/p>\n<\/blockquote>\n<p>Sen. Cynthia Lummis (R-WV) bought up to $100K in bitcoin, and Sen. Pat Toomey (R-PA) held cryptocurrencies while the senate was drafting cryptocurrency tax regulations.<\/p>\n<figure id=\"M-ROS-B4\" class=\"a8d adSo\"><\/figure>\n<p>Senator. Tuberville\u2019s late financial&nbsp;<a class=\"editor-rtfLink\" href=\"https:\/\/unusualwhales.com\/i_am_the_senate\/full\" target=\"_blank\" rel=\"noopener\">disclosures<\/a>&nbsp;revealed he sold up to $15,000 in Microsoft stock two weeks before the U.S. Department of Defense (DOD) canceled a $10 billion contract with the company. Rep. Pat Fallon (R-TX), who \u201csits on the House subcommittee responsible for reviewing DOD software contracts,\u201d also sold up to $250,000 in Microsoft right before the contract cancellation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">CORRUPTION WATCH: Assistant Speaker&nbsp;Katherine Clark, a possible replacement for Nancy Pelosi, reportedly failed to disclose up to&nbsp;$285,000 in stock trades. <a href=\"https:\/\/t.co\/8QBzfcWVTx\">https:\/\/t.co\/8QBzfcWVTx<\/a><\/p>\n<p>\u2014 Breitbart News (@BreitbartNews) <a href=\"https:\/\/twitter.com\/BreitbartNews\/status\/1429110376109649924?ref_src=twsrc%5Etfw\">August 21, 2021<\/a><\/p>\n<\/blockquote>\n<p>Rep. Blake Moore (R-UT), who had the best options trades in the house with an average return of 62.5 percent, bought up to $60,000 in Raytheon stock while sitting on the House Armed Services Committee responsible for reviewing DOD tech contracts.<\/p>\n<p>The trades could add to pressure to tighten the rules around trading by House members and senators. The <a href=\"https:\/\/finance.yahoo.com\/blogs\/daily-ticker\/obama-signs-stock-act-still-more-done-peter-172415917.html\">STOCK Act<\/a> passed Congress with huge bipartisan support and was signed into law in March 2012. This came after Breitbart News senior contributor Peter Schweizer released&nbsp;Throw Them All Out&nbsp;in 2011, exposing corruption in the highest echelons of elected life.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p>Prior to that, academics had shown several times that the unusually excellent performance of Congressional stock portfolios indicated lawmakers were using non-public information when buying and selling stocks.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p>A 2011 <a href=\"https:\/\/www.gwern.net\/docs\/economics\/2011-ziobrowski.pdf\">study<\/a> showed that Democratic lawmakers had far higher \u201cabnormal returns\u201d than their Republican counterparts, an indication of more widespread use of nonpublic information by Democrats.<\/p>\n<p>The STOCK Act did not, however, ban lawmakers from buying or selling individual securities. It only required disclosure of trades in excess of $1000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Congress beat the market, on average, with its millions of dollars of trades in 2021, according to watchdog organization\u00a0Unusual Whales. Members of Congress bought and sold close to $290 million &#8230;<\/p>\n","protected":false},"author":34,"featured_media":1896152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1210849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1210849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1210849"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1210849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1896152"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1210849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1210849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1210849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}