This one really grinds my gears.
Former Speaker of the House Nancy Pelosi doubled her annual salary with a big bet on Nvidia. But that's not all-- according to Quiver Quantitative, a tool that uses public disclosures from members of Congress to mirror their trading activity and track the results, Pelosi has made BANK in the last year.
In fact, her portfolio has returned an incredible 50 percent in the last 12 months, vastly outperforming the 17 percent gains of the S&P500 index of America's top companies.
Another questionable trade? Republican Representative Scott Franklin bought up to $115,000 of Lockheed Martin stock on September 12, 2022. Franklin is part of the House Committee on Appropriations, which deals with government spending. He got the stock in the defense company just before it announced a bigger than expected earnings quarter because of demand for F-35 fighter jets. When the company shared its good financial news on October 18, 2022, the stock price went up by 18 percent. This meant Franklin gained up to $20,000 from his first investment.
HOW IS THIS LEGAL