Nancy Pelosi Made $500,000 From Her Nvidia (NASDAQ: NVDA) Bet, Doubling Her Annual Government Salary In Just 2 Months
Nancy Pelosi Made $500,000 From Her Nvidia (NASDAQ: NVDA) Bet, Doubling Her Annual Government Salary In Just 2 Months
U.S. Rep. Nancy Pelosi, D-California, has achieved significant financial gains from her recent investment in Nvidia Corp. (NASDAQ:NVDA), a prominent company in artificial intelligence (AI) and semiconductors. On Nov. 22, Pelosi acquired 50 call options for Nvidia with a strike price of $120, expirin...
Lawmakers should not be allowed to trade stocks
Say it louder for the people in the back
What about large index funds?
Only T-bonds.
It’d be better just to require blind trusts. The trust has a fiduciary duty to invest their money well, and the politician can write a letter requesting a certain high-level investment strategy prior to the start of their term (ie, primarily large cap, primarily bonds, high/low risk tolerance). If they want they can add or remove money as USD during their term and they’ll get back whatever’s left at the end.
That's not really what people consider "stocks" but yes of a lot of economists and political theorists were able to debate the details of the policy people could decide and urge their reps to do the right thing. Worth a shot I guess.
What is your solution, that she resign or that she divorces her husband whom she married in college? Her husband's primary income is from the investment firm he owns, so basically she cannot be a legislator while married to him if those are the rules.
I know Pelosi is one of the magats' favorite talking points, but last time I saw Pelosi's market gains posted, she wasn't even in the top 10 of Congressfucks rigging their investments, and it wasn't close to being a one party issue.
What the right doesn't get is that the left wants this corruption to stop, even when the corruption is from the same side. The GOP only wants the other side to be held accountable
It’s that part of the fascist playbook where the enemy is weak and dangerous at the same time.
So? You approve of the behavior? That sounds like "what aboutism", ignoring the point. Unless you have a spare 500k to send to me showing how little you care because it's insignificant.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
I mean. Its absolutely nothing compared to the post ChatGPT runup.
If anything I could see that China news harming the stock evaluation. Bad publicity is real, and allying with China is risky in this market.
vote blue no matter who
It's obvious you're being sarcastic, but actually yes, vote blue no matter what. This is literally the best thing you can do to fight blatant fascism with your vote.
I’m criticizing Pelosi because she is a democrat. We don’t expect anything better from the GOP. We can hopefully exert some pressure through outrage to make democrats change this. Democrats by and large suck but it’s a given that republicans do this too.
Making money isn't the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?
If not this is a non story.
Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.
Oh OK then, thanks for clarifying.
I am not saying politicians aren’t routinely filling their pockets with insider information but most people who have an interest in at ai could have seen this coming. I am simply not rich enough to join the game and make profit.
She's probably one of the ones who made a bunch of trades just before the first lockdown of the pan. Or her husband. I don't trust any of 'em without full transparency.
Quick, ask her again if representatives should be able to trade stocks.
Remember when the bill to ban stock trading well was tabled so Democratic leadership could introduce a bill to ban stock trading poorly and then that bill was quietly delayed until after the Democrats lost the house?
https://www.nytimes.com/2022/09/30/us/politics/stock-trading-vote-congress.html
Not really a bet, when you control the rules of the game.
Anyone with Nvidia stock made a stupid amount of money.
Not everyone who has Nvidia stock has a hand in policy that influences stock prices.
What legislation involved nvidia?
The gain was from a call though, not ownership of existing stock over long term.
Is that what happened?
Stop voting for these people you fucktards.
Stop voting for who? Democrats? Republicans? Politicians? Insider trading is effectively legal in congress, no matter your party affiliation.
We need a complete overhaul. But we still need to keep voting. Progressives at least favor improvements to the system itself, so if you mean "vote progressive instead of these others", then I agree.
vote progressive instead of these others
Yes, this.
It turns out the two party system is sort of like a hostage situation
The (already rich) members of Congress get to break the law and commit insider trading whenever they want. If you COULD commit insider trading, they would throw your ass in jail.
It's a big club and you ain't in it.
How do 80 year olds know what stocks to buy and I don’t?
Because they get all the insider info that they are legally allowed to use for investment strategies which commoners are not.
Well excuse her for finding a permanent life partner while in college. I suppose she should be ashamed of herself, is that the consensus here?
BTW, what exactly are her inside trades? Is it when her husband bought a large stock offering from VISA right before a big vote on VISA legislation where she *checks notes voted against VISA's interests and passed regulation against them in 2007? Is that the big secret, voting against the big companies while buying their stock?
Fun Fact, the top traders in Congress are all GOP reps. In 2022 she wasn't even top 10, some years her husband makes Negative profits.
She married a man in college who would later become the owner of an investment firm. Have you tried doing that?
They're in a job where they often are the first to hear significant public info that will affect the markets. This lets them make stock deals to their benefit before anyone else.
If they're being scummy, they use info that isn't public.
Progressives in the DNC are pushing for this to be reformed, so that's the best path for change.
What methods have you tried? She's tried ALL of them
Who says they do? Everyone holding Nvidia got the gains, it's the 6th largest company by market cap, everybody with enough money in the stock market (or any shares in an S&P 500 index fund) owns some.
And you'll never see an article about Nancy Pelosi losing money because nobody cares, so if she has a lot of money in a lot of places, you'll just see the bets that succeeded and think she's killing it.
Eat the rich.
Those in Congress should not be able to trade stock
Other countries should be following our great example. Not only do we have the best legislators, but in their spare time they are also financial geniuses, doubling their salary easily. Other countries are envious that our government workers are so efficient and financially savvy.
Is it really a bet if you know the outcome?
Pray tell the supposed known outcome you speak of? Did I miss the big 2023/2024 nVidia legislation? Was it somehow completely unrelated to announcements by companies like OpenAI's new model and nVidia's expansion in China? Or are you saying Pelosi knew about the nVidia Announcement somehow?
Girlboss financial crimes 💅
There is a lot of financial crime in congress, but this isn't it. Heck, even I knew to buy Nvidia.
What's the crime? anyone who follows the market knows people have been drooling over nvidia for a long time now.
You sure it wasn't her Husband that did that? I mean it is what he does as his job.
He probably gave her advice based on what would likely be happening in Congress.
And again I ask what legislation affected nvidia stock?
YOLO
Can I hire her as my stock broker?
You should hire her husband that has done this his entire life.
Nancy didn't do shit. Nancy has smart finance people working for her that play games with her funny money