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Home Value Investing Congressman are good stock pickers

Congressman are good stock pickers
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6:19 am
November 22, 2011


somrh

Member

posts 336
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I got an idea. Why don't we start taxing congressmen capital gains at, say, 90%. They should be serving citizens, not themselves.

1:59 pm
November 21, 2011


Graeme

Austin, Texas

Member

posts 183
2

60 Minutes did a piece on how congressmen are exempt from insider trading laws. So you would do very well to hire a congress representative to manage your money for you! 

11:00 am
November 21, 2011


somrh

Member

posts 336
1

Post edited 3:07 am – November 21, 2011 by somrh

So as a follow-up to the other post in which we looked at the stock performance of corporations with high lobbying expenditures, it turns out that Congressmen are good stock pickers:

Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives

This is a follow-up study which was initially done on Senators. Apparently Senators do even better than Representatives.

Either way, I think I'll hire myself a Congressman to manage my money. I bet prospects are better than a hedge fund.
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