From:
House members in the know score ‘abnormal’ stock profits, study says
(Washington Times) -- by Valerie Richardson --
It’s no secret that members of Congress qualify as political insiders, but a new report strongly suggests that they also may be insiders when it comes to trading stocks.
An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representatives outperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios.
“We find strong evidence that members of the House have some type of non-public information which they use for personal gain,” according to four academics who authored the study, “Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives.”
To the frustration of open-government advocates, lawmakers and their staff members largely have immunity from laws barring trading on insider knowledge that have sent many a private corporate chieftain to prison.
The watchdog group OpenSecrets.org said on its blog Wednesday that the findings suggest “that U.S. House members are using their powerful roles for more than just political gain.”
The professors reviewed more than 16,000 common stock transactions carried out by about 300 House members as revealed in the members’ financial-disclosure forms from 1985 to 2001.
In a 2004 study, the same professors found that U.S. senators also enjoy a “substantial information advantage” over the average investor — and even corporate bigwigs — when it comes to picking stocks. The latest study shows that members of the Senate outperform their House colleagues by an average of 30 points per month.
Despite the GOP’s reputation as the party of the rich, House Republicans fared worse than their Democratic colleagues when it comes to investing, according to the study. The Democratic subsample of lawmakers beat the market by 73 basis points per month, or 9 percent annually, versus 18 basis points per month, or 2 percent annually, for the Republican sample.
“Given the almost folkloric belief that Wall Street invariably favors Republicans, the superior performance of trades made by Democratic representatives may seem surprising,” the study authors said...MORE...LINK
FOR LIBERTARIAN NATIONALISM: ANTI-CORPORATIST, ANTI-COMMUNIST, ANTI-GLOBALIST...PRO-SOVEREIGNTY, PRO-POPULIST, PRO-FREE ENTERPRISE
My Other Blog & Comments
News and Information Feed
-
-
-
-
Manipur in India struck by massive hailstorm28 minutes ago
-
-
-
-
Biden: Migrants Rather Than Americans Make USA Strong43 minutes ago
-
-
-
-
-
The situation continues to deteriorate1 hour ago
-
-
-
-
-
-
-
-
-
Что нужно знать об ОСАГО в 2024 году2 hours ago
-
-
Talk:Main Page2 hours ago
-
-
Sudan’s Conflict and resulting Starvation2 hours ago
-
-
-
-
Italiani e Russi a Colloquio2 hours ago
-
-
-
-
-
-
-
News Briefs – 05/05/20244 hours ago
-
-
-
-
-
-
-
-
-
The War To End All Wars10 hours ago
-
-
-
-
Another Trial in New York11 hours ago
-
-
-
Gates of Vienna News Feed 5/4/202411 hours ago
-
-
-
-
Georg von Bismarck13 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Saturday, May 4, 202421 hours ago
-
-
They did WHAT? 😲22 hours ago
-
French Ruler’s Insane Idea Could Ignite WW322 hours ago
-
-
-
-
-
-
-
-
20 Books You Need To Read1 day ago
-
-
-
-
-
They’re not dumb they’re evil1 day ago
-
-
-
-
-
-
-
Zero GOP2 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TikTok Hypocrisy5 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Tulsi Gabbard Left The Woke War Party3 weeks ago
-
-
-
Help Whatfinger Grow…5 weeks ago
-
-
-
Navigating Taxation Policy1 month ago
-
-
-
-
-
-
-
So sorry about tomorrow3 months ago
-
-
-
TFeed Index 20233 months ago
-
-
-
-
Headline 3: Of Christmas And Paganism5 months ago
-
Imagine Being This Desperate5 months ago
-
-
Hardcore7 months ago
-
Media Say ... Gloom And Doom In China7 months ago
-
-
U.S. Openly Militarizes Space8 months ago
-
-
-
-
-
-
Conversations With Cabbies10 months ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Tips1 year ago
-
-
-
-
-
-
Man, Bear, Pig Event Coming1 year ago
-
-
-
-
-
-
-
-
-
What a Wonderful Stocking Stuffer!2 years ago
-
test2 years ago
-
-
-
-
-
#273 – Marc Randolph2 years ago
-
My Farewell Announcement2 years ago
-
My Farewell Announcement2 years ago
-
-
-
-
-
-
-
-
-
-
Farewell, for now3 years ago
-
-
Audio Book Lost Colony of Hatteras3 years ago
-
-
Cancel Yourself3 years ago
-
-
Hello world!3 years ago
-
-
-
-
-
-
The Non-Jewish Origins of Krav Maga3 years ago
-
-
-
Why the Marines are dumping their tanks4 years ago
-
-
-
-
-
-
-
Voxiversity Live Stream6 years ago
-
-
Home: A Recap6 years ago
-
Big Brother’s War on Cash6 years ago
-
-
-
-
By: Osamas Pajamas9 years ago
-
Join Our Mailing List12 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Wednesday, May 25, 2011
Corrupt Congress stock market profiteering off of insider information?
Subscribe to:
Post Comments (Atom)
5 comments:
Great informative post....
http://chasingbeta.com/
Fantastic creation. Thanks...
http://chasingbeta.com/
Really a nice post.
http://www.otcmarketalerts.com/
Good & useful thoughts. Thanks...
Thanks for a good one....
Post a Comment