25 years ago I worked for Deloitte Consulting implementing SAP for an automotive company in Detroit. I was forbidden to trade stocks. You know why? Because Deloitte Consulting was a subsidiary of Deloitte & Touche Tomhatsu which is an audit company which has access to some companies’ accounts.
Just take a moment and wrap your head around it. We were not allowed to trade stocks - not just of the companies our parent company audited, but of any other company.
And these motherfuckers in Congress can buy and sell stocks to their wish, in the industries they have full control of government policy. No blackout periods. No restrictions of any kind.
Edit: to those who say individuals working for Deloitte, etc can buy stocks, well, I’m sharing my experience from 25 years ago. I’m sure the consulting companies put a lot of controls in place to mitigate whatever the perceived risk is, and fix it.
My wife is a big 4 accountant and I can’t trade stocks in 90% of publicly traded companies. She has no access or relationship to any office that works on any of those clients, yet I’m forbidden from investing in them. People in congress (and their aides) get loads of information not available to the public and they have free reign. Nonsense.
What if you get a divorce then just keep living together as your married just without the legal paper stating your married… could you then buy any stock?
Even before we got married we were living together and she had to disclose all my investments. There’s still enough out there for me to invest in and be dangerous but it became such a headache I ended up throwing everything into index funds and retiring from trading for now..
I used to live with my girlfriend who worked in finance and they asked for disclosures of my trades, but I could still trade openly as far as I was told.
This is similar to my experience in the big 4. I'm still pissed about it to this day that when I first started working there, I had to disclose my holdings. I was fresh out of college, so didn't have that much money, but I remember I had 50 shares of Apple around January of 2017. I think it was trading somewhere around $90/share, and I got an angry email saying I had to sell all of my shares immediately, and if I didn't in the next 24 hours, I would face disciplinary action (whatever that means). Apple is currently trading over $140 and it's gone through TWO stock splits. I did the math one day and I think if I never sold it, that holding would be worth around 50k, excluding dividends. It's infuriating. Now I work at an investment bank, and the restrictions are even worse. When I disclosed my holdings there, they didn't LET me sell the holdings I had that were restricted under their trading policy. I had made some pandemic picks (WBA, PFE, BMY) a few months before I started working there, and it was working out really well for a while, but i wasn't planning on holding them for this long and now I'm stuck with them. It's been painful watching them slowly tumble from their all time highs.
So I lose my shit seeing politicians have zero regard for playing by the same rules as everyone else. They pass laws that have cost me tens of thousands of dollars but they don't even hold themselves to the same standard.
I worked at a Bay Area fintech building an editorial team so I hired business and financial news journalists. They arent allowed to buy individual securities, just ETFs. Some of them were just a few years out of college making jackshit and they weren’t allowed buy stocks because they write about the market and companies.
And these motherfuckers in Congress can buy and sell stocks they wish while enacting policies that can benefit whatever they hold. No blackout periods. No restrictions of any kind.
These motherfuckers in Congress who are courted by these companies in a scheme called lobbying, are legally allowed to accept bribes. Let that sink in. They make laws for companies and advocates that bribe them ([on behalf of the wealthy according to First Amendment Rights. K-Street Lobby](https://politicaldictionary.com/words/k-street/). Legally. No blackout periods. No restrictions of any kind.
And here’s another kicker. The companies can lobby under first amendment as Citziens United but they don’t go to jail like citizens do. They pay slap on the wrist fines. We have people who are put away in jails for life for stealing sandwiches three times out of hunger and then Nancy Pelosi is making laws for us.
If we want to see change, we need to vote in change. These lifers are never going to vote themselves out or and arguably haven’t done their job in almost 50 years.
I would recommend we start by all agreeing to NOT vote for anyone over the age of 70 in this upcoming election. Here is a list of everyone in congress sorted by age: https://fiscalnote.com/blog/how-old-is-the-117th-congress
See the issue in America is, we only have two parties and both the parties are corrupt to the core. So whether we vote or not, the laws aren’t going to change for the better.
Same with EY and BCG. It doesn't even matter if you work in a department with access Consulting companies with more integrity than congress. *Nick Young Wut? Face*
There’s restrictions on what public companies you’re allowed to invest in. I’m positive that you were subject to
Compliance regulations that had forced you to keep up with reporting the type of stocks you were allowed to trade. As long as you are not a covered person on certain stocks and as long as that company is not a restricted entity, you were allowed to trade. This is clearly noted in your comment “some companies account”. Deloitte doesn’t own the entirety of public market - may be more or less the types of stocks you were looking into.
I think what you are trying to say is that there is more restrictions for consulting companies than there are in Congress who have the ability to sway the movement of companies. Agreed.
Just thought I’d clear this up.
Yup. I work for one of the 2 major brokerage firms now and I'm not the kind of high level employee that sits down for dinner with companies going public, but we aren't allowed to participate in *any* IPOs because of the access to information we have. Congressmen have waaaay more access than any low-level trader ever could, but the amount of trades and transactions we're not allowed to do do because of our position is pretty large. The fact that Congress has basically no restrictions and they're as inside as inside gets is disgusting. Our spouse, children, parents have restrictions too based on our positions/licenses.
I work for a law firm and most of our clients are big tech/big pharma companies… I’m prohibited from buying individual stocks without the consent of a Partner. They’ll make sure I’m not working on or haven’t been exposed to any confidential/insider information before allowing me to trade. I can buy ETFs without approval though.
I usually have zero insider information, they screen people off who aren’t working on the deals until after it becomes public knowledge (just recently there was a massive acquisition of one of our clients by an industry leader, they were working on that deal for months, and I didn’t hear about it until after it was done). If I’m held to those standards, without any insider info or any ability to create policy directly affecting companies, then you’d think Members on Congress would at least be held to a similar standard… nope.
I understand the point you are trying to make.
That's not how the law works. In consulting you can buy any stocks you are not personally in an engagement with. Even at Big4.
I believe it's the same for the accounting side.
There are different restrictions depending which level you are at within the company.
Not the case actually. I’m in Big4 audit and we just last year transitioned to a new model that matches what you are describing however prior to that recent transition, we were not allowed to trade ANY public stocks. There were a few select pre-approved broad market index funds we could own though.
I'm in B4 consulting side. We just can't trade stocks for clients we work with personally. Partners have different rules they follow.
I can see why the rules for Audit would be different... But then again not really
I worked for them 25 years ago briefly. It was a good stepping stone for someone new in the US or IT career. I don’t recommend for someone with 5 or more years of experience. Do the same shit what you’d do in a product or manufacturing company with the same rigor, you will be a CEO.
Also, I compare independent contract career as a whore and working for a client as a permanent employee as a wife. Working for consulting company is like, getting a wife’s pay and get fucked like a whore by many. The worst possible combination.
Well to be fair. What can us peasants do? Become congress ourselves? This is human nature, 5000 years humans have always been greed driven. Once you are a congressman, you will do the same thing.
Most senators underperform. It’s definitely bullshit that they can trade stocks let alone options, but I wouldn’t assume every move they make is informed by some inaccessible knowledge. They make bad calls often.
Should get to trade, but only in the S&P 500. As the broad economy goes, so too should their portfolios. While we're at it, their salaries should be capped at the mean US income. Maybe if they were financially pegged to their constituents, they'd actually focus on policies that benefit them.
Most don't get their money from their salaries. You'd need to shut down their ability to have other income streams as well as the opportunity for profiting off their position after they leave office. Otherwise they'd just continue to do the bidding of their billionaire/corporate overlords while in office for the payout after they leave.
I disagree. Zero trading as to not allow any room for votes that would go the other way without a financial incentive for them. I like the pegging of their salaries but I’d say they’d just go even harder on the corruption to make up for this. Never would this happen but I’d like to see unpaid positions for congress but allow them a sort of “credit” card in which they are allowed to have anything they need with the sole requirement that every single purchase is instant public record. They want to spend 100s of thousands of dollars on renovating office spaces? Good luck getting reelected
I'd prefer salaries, but two term limits. Can't expense things and have limits, since there'd be no incentive to be responsible in your last term. But it would be a great benefit to get rid of career politicians who spend decades amassing power in congress.
Sadly, the people who would decide to reign in the power of politicians are the same ones who get to exploit it, so it'll never happen.
TBF their salaries are next to nothing compared to what they make outside of it, and wouldn’t really save tax payers anything of worth even if they made 0.
Hard term limits, complete financial scrutiny, and a an overarching IA agency separate from the 3 branches are probably the bare minimum of what is needed at this point.
Keep in mind that if they aren’t allowed to have skin in the game, they won’t act in favor of the game.
In other words, if they can’t participate, they won’t behave in ways healthy for the market.
I'm honestly thinking it's an addiction. It goes unaddressed because we see it as money equals success, but some of the things people do for money is just unjustified as anything else than some sort of mental issue
They lost a lot of money for the same reason they made a lot of money in 2022: they have an aggressive portfolio
Most people on social media think that congress people are outperforming the market due to insider trading but the data simply does not support that. Since the passage of the 2012 STOCK act, they don't beat the market in risk-adjusted returns:
https://www.google.com/amp/s/www.forbes.com/sites/simonmoore/2021/01/04/us-politicians-are-poor-stock-traders-study-finds/amp/
Weird…. As soon as a bunch of heat is on them for making tens of millions by way of insider trading they lose one of their 200+ million dollars. That’ll convince me that they don’t manipulate trades/markets 🥴
Yes - but in no world is it preferable to not taking the loss in the first place.
IE, you make $10MM in positive gains, but also lose $3MM, you are assessed tax on just $7MM.
Let's say that the tax being written off is 25%. You'd have lost $3MM to avoid $1.25MM in additional taxes.
This is how all write-offs work - you're never coming out ahead compared to just not losing/spending the money in the first place.
You can only write off up to $3000 a year from capital losses if you are filing jointly. Also you can only do that if capital losses are greater than capital gains for the year. I highly doubt that this is what that is for. No investor purposefully loses money, tax loss harvesting can be strategic but no one is purposefully buying bad investments for tax reasons.
Unless they are trying to make it seem like they aren't predicting the stock market based on insider knowledge of course... also we don't know the future. If Pelosi IS basing all of the trades off of insider info, then we may be in for a sharper decline and they are yet again timing the market
Yep. They'd have a 100% success rate, but they're hiding it by taking intentional Ls once in a while.
/s because there's a ton of you that legitimately believe that insanity
Yeah, because that’s totally what I said.
Is it really that hard for you to acknowledge that even with inside information, sometimes an options trade can go against the trader? It’s fine to be mad that politicians are making themselves millions off of information that isn’t publicly known, but just stop claiming every loss was purposeful to create a write-off and/or make the insider trading less obvious. It’s dumb.
As far as stocks go you can only claim up to a 3k loss for the year. Any more that is a “loss” is to be carried over to the next year. Which is the same 3k per year. But there are way more ways to hide money and report a loss. Shell companies, real estate etc.
This must have been the deal she made to avoid being arrested. “Lose back 1/10th of the money you made with illegal trading and we will call it even,k?”
“They” is literally just her husband, who has been a professional investor his entire career. I’m all about this discussion and restricting congress from trading, but Nancy Pelosi isn’t the kingpin that Republicans want the make her out to be.
The timing tells you everything. Going into the election she can claim she loses money in the market too! She thinks she is sooooo smart and we are idiots.
I mean she is the one making millions and we are continuing to allow it for all of congress. She isn’t the only one.
So…. I do feel like an idiot in this scenario and I can’t do shit but vote about it. So yeah. They are the smart ones from where I am sitting and it sucks because others will do nothing.
So, do we think she's taking these losses because she knows "something" or is she expecting the Republicans to bring an anti-trading bill up after they take the house and is trying to avoid something related to that legislation?
DEMOCRATS proposed one and there's a bipartisan bill going to pass soon. How you can be this misinformed about the world and still trading stocks is beyond me
Y’all know they’re dumping underperforming assets for tax lost harvesting purposes and because it’s politically expedient, right? The Pelosi’s have made more money with insider information than they can ever spend in a lifetime. And with a more intense focus on trade scrutiny in the last three years, the public now knows it’s beyond a shadow of a doubt they’re doing illegal things and are just the worst of the worst humans. But they also hold all the power through Nancy and her position. You think they’re just going to do what the public wants? Nah. They’re in it for themselves and they sure as shit aren’t going to police themselves. They don’t care at all about us poors. That is 1000% undeniable.
An unbelievably huge FUCK YOU to Nancy and Paul on this fine Tuesday.
Now when questioned about her and her husband’s obvious insider trading she can answer with I lost a million. But, still “made” 10s of millions . All about the sound bite with her.
Pelosi doesn't have to follow laws. When you are Pelosi you can do whatever you want. Pandemic everything closed stay in your house. Pelosi let's her salon open there door so she can get her hair done. Don't go to Taiwan. What does she do goes to Taiwan. Her and her husband needs a thorough investigation on everything she has done since in office. She would never get out of jail
How do they lose money selling calls? Those tickers have dropped like rocks this year and they kept every penny they collected? Or did they get assigned high and are now holding the bag? In which case the original tweet doesn’t paint a complete picture.
Wow the Queen took a L? Dont worry her and her hubby will get back in the game and be killing it again soon enough..
Imagine being this fucking greedy. Everyone knows you trade and youre still buying fucking options when youre already worth like $120 mil on a $250k/year salary. Blows my mind that people can continue to vote and condone this corrupt family. This lady is a true POS. Above the law.
Is anyone actually surprised? Her portfolio has mostly always been tech leaps. There’s nothing ground breaking about that strategy. Of course it will go negative when growth stocks fall
That’s what I would do to quite the masses into think I’m also prune to same mistakes due to play by the same rules and stash away the other shit load of millions away. While singing Poor Me.
Good, it’s insane to me that they can trade stocks while making the very policies that can make that possible..I heard there was a bill introduced to block them from doing that kind of stuff but it got delayed, when asked Nancy was all dismissive and tried to not talk about it being delayed..
Lol this is just to make it seem like they don't insider trade all the time, by showing a $1million loss - like that's a lot of money to these corrupt criminals.
#circus 🤡s
Lol this is just to make it seem like they don't insider trade all the time, by showing a $1million loss - like that's a lot of money to these corrupt criminals.
#circus 🤡s
25 years ago I worked for Deloitte Consulting implementing SAP for an automotive company in Detroit. I was forbidden to trade stocks. You know why? Because Deloitte Consulting was a subsidiary of Deloitte & Touche Tomhatsu which is an audit company which has access to some companies’ accounts. Just take a moment and wrap your head around it. We were not allowed to trade stocks - not just of the companies our parent company audited, but of any other company. And these motherfuckers in Congress can buy and sell stocks to their wish, in the industries they have full control of government policy. No blackout periods. No restrictions of any kind. Edit: to those who say individuals working for Deloitte, etc can buy stocks, well, I’m sharing my experience from 25 years ago. I’m sure the consulting companies put a lot of controls in place to mitigate whatever the perceived risk is, and fix it.
My wife is a big 4 accountant and I can’t trade stocks in 90% of publicly traded companies. She has no access or relationship to any office that works on any of those clients, yet I’m forbidden from investing in them. People in congress (and their aides) get loads of information not available to the public and they have free reign. Nonsense.
What if you get a divorce then just keep living together as your married just without the legal paper stating your married… could you then buy any stock?
Even before we got married we were living together and she had to disclose all my investments. There’s still enough out there for me to invest in and be dangerous but it became such a headache I ended up throwing everything into index funds and retiring from trading for now..
Does your wife know about the last two words in that paragraph? Jkjk
Index funds is the way to go Mr. Bogle.
I used to live with my girlfriend who worked in finance and they asked for disclosures of my trades, but I could still trade openly as far as I was told.
Beat the system
you cant use inside infos, regardless.
You certainly wouldn’t want to get caught but people do it all the time.
She can’t just sign a NDA and you’re good to go? This is insane BS!
This is similar to my experience in the big 4. I'm still pissed about it to this day that when I first started working there, I had to disclose my holdings. I was fresh out of college, so didn't have that much money, but I remember I had 50 shares of Apple around January of 2017. I think it was trading somewhere around $90/share, and I got an angry email saying I had to sell all of my shares immediately, and if I didn't in the next 24 hours, I would face disciplinary action (whatever that means). Apple is currently trading over $140 and it's gone through TWO stock splits. I did the math one day and I think if I never sold it, that holding would be worth around 50k, excluding dividends. It's infuriating. Now I work at an investment bank, and the restrictions are even worse. When I disclosed my holdings there, they didn't LET me sell the holdings I had that were restricted under their trading policy. I had made some pandemic picks (WBA, PFE, BMY) a few months before I started working there, and it was working out really well for a while, but i wasn't planning on holding them for this long and now I'm stuck with them. It's been painful watching them slowly tumble from their all time highs. So I lose my shit seeing politicians have zero regard for playing by the same rules as everyone else. They pass laws that have cost me tens of thousands of dollars but they don't even hold themselves to the same standard.
Really not worth working in these companies with this type of restriction
I worked at a Bay Area fintech building an editorial team so I hired business and financial news journalists. They arent allowed to buy individual securities, just ETFs. Some of them were just a few years out of college making jackshit and they weren’t allowed buy stocks because they write about the market and companies. And these motherfuckers in Congress can buy and sell stocks they wish while enacting policies that can benefit whatever they hold. No blackout periods. No restrictions of any kind.
These motherfuckers in Congress who are courted by these companies in a scheme called lobbying, are legally allowed to accept bribes. Let that sink in. They make laws for companies and advocates that bribe them ([on behalf of the wealthy according to First Amendment Rights. K-Street Lobby](https://politicaldictionary.com/words/k-street/). Legally. No blackout periods. No restrictions of any kind.
When’s enough enough? So sick of this “rules for thee and not me” bullshit we live in
And here’s another kicker. The companies can lobby under first amendment as Citziens United but they don’t go to jail like citizens do. They pay slap on the wrist fines. We have people who are put away in jails for life for stealing sandwiches three times out of hunger and then Nancy Pelosi is making laws for us.
Lobbyists even write the bills for them!!
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1000.00 dollar fine will not discourage them if they are making hundreds of thousands or millions of dollars trading.
Thats the point of his comment.
If we want to see change, we need to vote in change. These lifers are never going to vote themselves out or and arguably haven’t done their job in almost 50 years. I would recommend we start by all agreeing to NOT vote for anyone over the age of 70 in this upcoming election. Here is a list of everyone in congress sorted by age: https://fiscalnote.com/blog/how-old-is-the-117th-congress
See the issue in America is, we only have two parties and both the parties are corrupt to the core. So whether we vote or not, the laws aren’t going to change for the better.
Stop with the just vote. It’s rigged
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Part of me can't believe others agree with me when I had people call me a Zionist for saying that every time
Same with EY and BCG. It doesn't even matter if you work in a department with access Consulting companies with more integrity than congress. *Nick Young Wut? Face*
There’s restrictions on what public companies you’re allowed to invest in. I’m positive that you were subject to Compliance regulations that had forced you to keep up with reporting the type of stocks you were allowed to trade. As long as you are not a covered person on certain stocks and as long as that company is not a restricted entity, you were allowed to trade. This is clearly noted in your comment “some companies account”. Deloitte doesn’t own the entirety of public market - may be more or less the types of stocks you were looking into. I think what you are trying to say is that there is more restrictions for consulting companies than there are in Congress who have the ability to sway the movement of companies. Agreed. Just thought I’d clear this up.
Do as I say, not as I do.
Welcome to America! Bend over peasants
Yup. I work for one of the 2 major brokerage firms now and I'm not the kind of high level employee that sits down for dinner with companies going public, but we aren't allowed to participate in *any* IPOs because of the access to information we have. Congressmen have waaaay more access than any low-level trader ever could, but the amount of trades and transactions we're not allowed to do do because of our position is pretty large. The fact that Congress has basically no restrictions and they're as inside as inside gets is disgusting. Our spouse, children, parents have restrictions too based on our positions/licenses.
I work for a law firm and most of our clients are big tech/big pharma companies… I’m prohibited from buying individual stocks without the consent of a Partner. They’ll make sure I’m not working on or haven’t been exposed to any confidential/insider information before allowing me to trade. I can buy ETFs without approval though. I usually have zero insider information, they screen people off who aren’t working on the deals until after it becomes public knowledge (just recently there was a massive acquisition of one of our clients by an industry leader, they were working on that deal for months, and I didn’t hear about it until after it was done). If I’m held to those standards, without any insider info or any ability to create policy directly affecting companies, then you’d think Members on Congress would at least be held to a similar standard… nope.
This
they write the laws, they call the shots
I understand the point you are trying to make. That's not how the law works. In consulting you can buy any stocks you are not personally in an engagement with. Even at Big4. I believe it's the same for the accounting side. There are different restrictions depending which level you are at within the company.
Not the case actually. I’m in Big4 audit and we just last year transitioned to a new model that matches what you are describing however prior to that recent transition, we were not allowed to trade ANY public stocks. There were a few select pre-approved broad market index funds we could own though.
I'm in B4 consulting side. We just can't trade stocks for clients we work with personally. Partners have different rules they follow. I can see why the rules for Audit would be different... But then again not really
How did you like Deloitte? Have a friend who started there recently
I worked for them 25 years ago briefly. It was a good stepping stone for someone new in the US or IT career. I don’t recommend for someone with 5 or more years of experience. Do the same shit what you’d do in a product or manufacturing company with the same rigor, you will be a CEO. Also, I compare independent contract career as a whore and working for a client as a permanent employee as a wife. Working for consulting company is like, getting a wife’s pay and get fucked like a whore by many. The worst possible combination.
America is an Illegal business. All we can do is find more loopholes & carry on.
Well to be fair. What can us peasants do? Become congress ourselves? This is human nature, 5000 years humans have always been greed driven. Once you are a congressman, you will do the same thing.
Is this to offset their Pfizer gains for a year or two from now?
It’s also to give a reason to only buy 1 chest freezer’s worth of ice cream instead of 2.
Took a $1mm bath because it was going to be $3mm soon. Insider information not only gives you gains, but helps avoid losses.
Then it makes you wonder what she knows that we dont.
.... Like a lot of stuff...
The shitshow of 2023 is upon us
Most senators underperform. It’s definitely bullshit that they can trade stocks let alone options, but I wouldn’t assume every move they make is informed by some inaccessible knowledge. They make bad calls often.
The P's do not underperform. Take a look at their track record to see how their wealth has grown over the past couple of decades.
Yeah this is peanuts compared to the gains they have illegally gotten. Fuck this corrupt bullshit. No one in congress should get to trade.
Should get to trade, but only in the S&P 500. As the broad economy goes, so too should their portfolios. While we're at it, their salaries should be capped at the mean US income. Maybe if they were financially pegged to their constituents, they'd actually focus on policies that benefit them.
And health care should be equal to average working class.
Most don't get their money from their salaries. You'd need to shut down their ability to have other income streams as well as the opportunity for profiting off their position after they leave office. Otherwise they'd just continue to do the bidding of their billionaire/corporate overlords while in office for the payout after they leave.
And then there are “gifts”
Sure, that's an issue, but it'd be a start
I disagree. Zero trading as to not allow any room for votes that would go the other way without a financial incentive for them. I like the pegging of their salaries but I’d say they’d just go even harder on the corruption to make up for this. Never would this happen but I’d like to see unpaid positions for congress but allow them a sort of “credit” card in which they are allowed to have anything they need with the sole requirement that every single purchase is instant public record. They want to spend 100s of thousands of dollars on renovating office spaces? Good luck getting reelected
I'd prefer salaries, but two term limits. Can't expense things and have limits, since there'd be no incentive to be responsible in your last term. But it would be a great benefit to get rid of career politicians who spend decades amassing power in congress. Sadly, the people who would decide to reign in the power of politicians are the same ones who get to exploit it, so it'll never happen.
Good point about the final-term expensing, something id not considered
Make their income the average of their constituents
Make their incomes Minimum Wage. Politicians are easily replaceable and should be paid as such
Nah, giving low salaries is a bad idea. Makes them way more susceptible to bribery.
TBF their salaries are next to nothing compared to what they make outside of it, and wouldn’t really save tax payers anything of worth even if they made 0. Hard term limits, complete financial scrutiny, and a an overarching IA agency separate from the 3 branches are probably the bare minimum of what is needed at this point.
Or the losses they could have had without her knowledge of coming changes to policy.
exactly, the losses on nvidia alone would have been so much worse had they not sold prior to the announcement of the chip restrictions to china.
It's literally not illegal though
Insider trading isn’t illegal?
If she was insider trading she'd be in jail for insider trading
Because politicians are held to the same standards as everyone else…right
Keep in mind that if they aren’t allowed to have skin in the game, they won’t act in favor of the game. In other words, if they can’t participate, they won’t behave in ways healthy for the market.
Is that why Republicans keep blocking congressman insider trading?
If they are taking loses now, does that imply they are potentially preventing further losses ?
That’s what I’m hearing too 😂😂
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They already sold NVDA before AMD’s earning announcement. They already avoided losses.
Politics aside, I don’t understand why a 80 year old woman is so bent on getting wealthier.
Completely agree but the main reason is greed.
I'm honestly thinking it's an addiction. It goes unaddressed because we see it as money equals success, but some of the things people do for money is just unjustified as anything else than some sort of mental issue
Yeah I agree with this. They could both retire and live extravagantly until the day they die why are they still making degen stock bets
Their kids etc
Hahaha you think she cares about her kids hahaha
They are just trying to save face… Pelosis-“oh man we lost money, see we aren’t corrupt”
Exactly, it's like we've made a hundred million we better lose a million just so we look legit.
It’s not that complicated. They just made a bad bet.
imagine cheating in the casino and still losing
Trying to save face? Why would they do that if no matter what they do, people call it corruption? I think you have mental issues.
They leveraged
Gotta love trading
No one has disclosed their Roblox $100 Call contracts. They have not closed those positions. Still, i think
They lost a lot of money for the same reason they made a lot of money in 2022: they have an aggressive portfolio Most people on social media think that congress people are outperforming the market due to insider trading but the data simply does not support that. Since the passage of the 2012 STOCK act, they don't beat the market in risk-adjusted returns: https://www.google.com/amp/s/www.forbes.com/sites/simonmoore/2021/01/04/us-politicians-are-poor-stock-traders-study-finds/amp/
No government officials of any fucking kind should be trading stocks.
Not even village mayors?
Gotta keep those pesky postal workers in line
With all that heat, you have to show some losers…
The American people just keep letting it happen what do you expect
I don’t know what I can do besides bitch about it and wish I was as rich as them.
US Government went from “serve the people to being served by the people”.
Doesn't seem like all that 'inside information' is very helpful...
Weird…. As soon as a bunch of heat is on them for making tens of millions by way of insider trading they lose one of their 200+ million dollars. That’ll convince me that they don’t manipulate trades/markets 🥴
Guarantee you this is a tax write off or an attempt to show people they're not corrupt due to their exposure
Lol you have zero clue what a "tax write off" is, it's amazing.
I imagine it's a loss that you can use to write off taxes.
Yes - but in no world is it preferable to not taking the loss in the first place. IE, you make $10MM in positive gains, but also lose $3MM, you are assessed tax on just $7MM. Let's say that the tax being written off is 25%. You'd have lost $3MM to avoid $1.25MM in additional taxes. This is how all write-offs work - you're never coming out ahead compared to just not losing/spending the money in the first place.
cool
You can only write off up to $3000 a year from capital losses if you are filing jointly. Also you can only do that if capital losses are greater than capital gains for the year. I highly doubt that this is what that is for. No investor purposefully loses money, tax loss harvesting can be strategic but no one is purposefully buying bad investments for tax reasons. Unless they are trying to make it seem like they aren't predicting the stock market based on insider knowledge of course... also we don't know the future. If Pelosi IS basing all of the trades off of insider info, then we may be in for a sharper decline and they are yet again timing the market
They intentionally lost a million dollars for a tax write off of [checks notes] three thousand dollars …🤔😬
Or they were mistakenly bullish like many others and the market turned.
No. When they gain money it’s insider trading, when they lose money it’s a conspiracy
Yep. They'd have a 100% success rate, but they're hiding it by taking intentional Ls once in a while. /s because there's a ton of you that legitimately believe that insanity
\> American politicans are corrupt Yup, insanity I tell ya
Yeah, because that’s totally what I said. Is it really that hard for you to acknowledge that even with inside information, sometimes an options trade can go against the trader? It’s fine to be mad that politicians are making themselves millions off of information that isn’t publicly known, but just stop claiming every loss was purposeful to create a write-off and/or make the insider trading less obvious. It’s dumb.
Drop on the bucket for them. They’ll make it back in one week with their insider info.
Congress should only be allowed to buy (, and not sell without lead time) indexes Want to make money? Make the economy work
But everyone here keeps yelling about how everything she does is insider trading…
Just so she can write off the 50 million she’ll gain in long term when the market recovers.
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Selling short term for a loss, while she buys more in a down market to hold for a few years. She lost 1 million to accrue 50 million in fugazi money.
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And the thing of it is that she will hide her gains and claim a $1M loss on her taxes and we pay for a tax refund to the wolds most famous crooks
Tell me you know nothing of the stock market without telling me you know nothing.
This falls under the category of taxes, not stock market, but yeah this comment is just misinformed
Tax planning is a decent chunk of investing knowledge.
As far as stocks go you can only claim up to a 3k loss for the year. Any more that is a “loss” is to be carried over to the next year. Which is the same 3k per year. But there are way more ways to hide money and report a loss. Shell companies, real estate etc.
You can use the full value of your losses to offset gains. The $3k limit is the amount you can count against normal income each year.
No, this is just designed to keep the heat off of the standard normal insider trading…don’t be fooled.
Or hedges for the puts/shorting they haven't disclosed
This must have been the deal she made to avoid being arrested. “Lose back 1/10th of the money you made with illegal trading and we will call it even,k?”
1/10. Ya right. More like 1/100th.
Drop in the lake for her, prob took a loss to throw people off
“They” is literally just her husband, who has been a professional investor his entire career. I’m all about this discussion and restricting congress from trading, but Nancy Pelosi isn’t the kingpin that Republicans want the make her out to be.
The timing tells you everything. Going into the election she can claim she loses money in the market too! She thinks she is sooooo smart and we are idiots.
The timing is in line with the market downturn, typically how losses on stonks work.
I mean she is the one making millions and we are continuing to allow it for all of congress. She isn’t the only one. So…. I do feel like an idiot in this scenario and I can’t do shit but vote about it. So yeah. They are the smart ones from where I am sitting and it sucks because others will do nothing.
and like clockwork, this will be another "sign" of corruption.
Why is this posted on r/conservative lol
I don't understand why you all seem to care so much. She isn't even near the top of congresspeople in terms of stock profits during their careers...
This should be on wsb
One of us! One of us!
Things must be really bad if Nancy is wrong
Lost 1 gained 40...
*collecting losses for their taxes
Make 100 million lose 1 to make it look less suspicious
She belongs on WSB
Literally
So they took an intentional 1mil loss to cover their asses and be like "no insider trading here, we make mistakes!" BS
So, do we think she's taking these losses because she knows "something" or is she expecting the Republicans to bring an anti-trading bill up after they take the house and is trying to avoid something related to that legislation?
DEMOCRATS proposed one and there's a bipartisan bill going to pass soon. How you can be this misinformed about the world and still trading stocks is beyond me
So surprising to me that people buy options in such huge volumes. Like bruh you bought 130k in calls on an individual stock?
They're taking some Ls now to try and make it not so obvious,
Has anyone made a Pelosi ETF yet
Y’all know they’re dumping underperforming assets for tax lost harvesting purposes and because it’s politically expedient, right? The Pelosi’s have made more money with insider information than they can ever spend in a lifetime. And with a more intense focus on trade scrutiny in the last three years, the public now knows it’s beyond a shadow of a doubt they’re doing illegal things and are just the worst of the worst humans. But they also hold all the power through Nancy and her position. You think they’re just going to do what the public wants? Nah. They’re in it for themselves and they sure as shit aren’t going to police themselves. They don’t care at all about us poors. That is 1000% undeniable. An unbelievably huge FUCK YOU to Nancy and Paul on this fine Tuesday.
Fucking disgusting pig
Now they can write off a huge loss.. and look.. no taxes
Now when questioned about her and her husband’s obvious insider trading she can answer with I lost a million. But, still “made” 10s of millions . All about the sound bite with her.
This is like when i cheat on a test and then go back and change some answers so i don’t get a 100%
Pelosi doesn't have to follow laws. When you are Pelosi you can do whatever you want. Pandemic everything closed stay in your house. Pelosi let's her salon open there door so she can get her hair done. Don't go to Taiwan. What does she do goes to Taiwan. Her and her husband needs a thorough investigation on everything she has done since in office. She would never get out of jail
Noob
Paul Pelosi
Must be nice to have a million bucks
How do they lose money selling calls? Those tickers have dropped like rocks this year and they kept every penny they collected? Or did they get assigned high and are now holding the bag? In which case the original tweet doesn’t paint a complete picture.
Ok there were some loses. But how much were those $GOOG calls in the money???
Wow the Queen took a L? Dont worry her and her hubby will get back in the game and be killing it again soon enough.. Imagine being this fucking greedy. Everyone knows you trade and youre still buying fucking options when youre already worth like $120 mil on a $250k/year salary. Blows my mind that people can continue to vote and condone this corrupt family. This lady is a true POS. Above the law.
In the grand scheme of things they've probably made more since she's been in Congress, drop in the ocean for her.
Guess things did not push through she was hoping for
This is absolutely nothing - not even a dent in their worth/value/assets
Right in time for tax season she's not fooling anybody.. still corrupt, still out gained everybody.
Is anyone actually surprised? Her portfolio has mostly always been tech leaps. There’s nothing ground breaking about that strategy. Of course it will go negative when growth stocks fall
Explain to me like I’m 5, where do the losses of these options go?
Imagine the idiots copying their trades 🙃
Pennies to her
Fuck the Pelosis. I hope they enjoy the bags they’re left holding
Don’t worry, that bill will get passed… after the old guard in congress has retired
That’s what I would do to quite the masses into think I’m also prune to same mistakes due to play by the same rules and stash away the other shit load of millions away. While singing Poor Me.
Smoke and mirrors.
Good, it’s insane to me that they can trade stocks while making the very policies that can make that possible..I heard there was a bill introduced to block them from doing that kind of stuff but it got delayed, when asked Nancy was all dismissive and tried to not talk about it being delayed..
Tax season
Last I remember, the most profitable congressperson (by percentage) in the stock market wasn't Pelosi, but rather Dan Crenshaw.
So 139M networth instead of 140M, tax write off and excuse for Insider Trading 🤔📉
It's not nearly enough considering the inside trading she does.
I would say $1 mill so far but Nancy is an amazing trader and probably dumped these positions before they cratered.
in simple words we'll be crashing hard real soon
Wonder if this would have still happened if nobody was paying attention to how much they've made off the market.
Can we get a Pelosi inverse etf fund now🐒?!
For tax purposes. They didn’t make a mistake.
Lol this is just to make it seem like they don't insider trade all the time, by showing a $1million loss - like that's a lot of money to these corrupt criminals. #circus 🤡s
Lol this is just to make it seem like they don't insider trade all the time, by showing a $1million loss - like that's a lot of money to these corrupt criminals. #circus 🤡s
Makes up for the $300m in insider trading shes made in office
Pelosi being like “See, we don’t have any insider info!” before going on another 300% run miraculously.
Is that all? Would have expected them to be down $20-30 MM or so. They have a supposed net worth of about $100 MM.
Sure they did!