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Members of Congress are getting rich by trading on insider information.
One study found that members of Congress beat the market by 6% annually. And another study of Republican lawmakers founds that they earned 35% annual returns.
First, I’m 110% on board with capitalism and free markets. Everyone should be an investor – even if you only have $500 or $1,000 saved to get started.
Go here for my #1 trade of 2022 – it’s NOT the FAANG stocks.
However… Members of Congress should NOT be trading stocks or options based on insider information. And they shouldn’t be trading shares of companies that could benefit or be hurt by their legislation.
The simplest solution is to have a 100% ban on stock trading by members of Congress.
Speaker of the House Nancy Pelosi is the posterchild for the problem.
She and her husband have a portfolio estimated to be worth over $106 million. They own a variety of stocks and real estate. Her husband takes a very active role in managing the investments – often using stock options to make leveraged bets.
The New York Post estimates that they’ve made as much as $30.4 million by trading FAANG stocks.
Furthermore, Nancy says her husband manages the investments. And that she has no part in the day-to-day activities.
That’s complete B.S. She’s taking with her husband every day. Whether it’s by phone from her Georgetown condo. Or over dinner in their multi-million-dollar house in San Francisco – or the vineyard in Napa Valley.
Moreover, that means he has confidential “insider information” as a result of her work in Congress.
It’s a total scam.
Particularly, they send folks on Wall Street to jail for this kind of behavior. Why? It’s clear-cut insider trading. And it’s time we hold Congress accountable.
That’s why I’m advocating…
100% Ban on Stock Trading by Members of Congress
Dear Nancy Pelosi,
Frankly, I’m a little embarrassed to be writing this letter. So, I’ll get right to it.
You’re paid $223,500 per year as the Speaker of the House of Representatives. That puts your income among the top 5% of households in America.
Your job is to represent your district in California – and to lead the House of Representatives. This is a difficult job that requires focus, transparency and complete commitment.
Unfortunately, it appears that active investing has become important to your personal finances. You and your husband have been actively trading in stocks and options for several years. And your capital gains from investing dwarf your compensation from Congress.
Don’t get me wrong. I’m a huge advocate for individual investors.
However, it’s a real conflict of interest when members of Congress are actively buying and selling stocks.
That’s because as a member of Congress – you have access to confidential and inside information that is not available to the general public. Additionally, you have the ability to pass legislation that benefits or hurts publicly traded corporations.
This gives you a distinct advantage in terms of access to information. Furthermore, it presents a conflict of interest when you’re forced to weigh your personal investments against the best interest of the American people.
It’s time for members of Congress to STOP trading in the stock market. Trading in individual stocks and options should be completely banned – full stop.
Members of Congress should be allowed to invest in ETFs and mutual funds. This is sufficient to allow you and other members to benefit from the overall growth of the stock market –and the American economy –over the long-term.
The American people are not paying you to day trade stocks or options based upon insider information.
If your investments are your top priority – please retire. There are plenty of inadequate politicians waiting to take your spot.
Right now, your job is to serve the American people. IF you want to keep your job – please do the right thing.
Sincerely,
Ian Wyatt
That’s enough of a rant for one day!
Equally important, Since you are NOT a member of Congress you have zero trading restrictions. That means it’s time for you to ditch FAANG stocks. And it’s time for you to jump into new next generation MACE stocks.
However, I’m NOT buying Tesla Motors stock today.
Instead, I’m re-positioning my portfolio with these MACE stocks.
They’re the next generation tech stock winners.
These stocks could be like buying Netflix (NASDAQ: NFLX) in 2010 or Tesla Motors in 2011 – which I did in my real-money portfolio.
You may not be familiar with MACE stocks.
However, I’d be willing to bet that these stocks are “the next FAANG stocks.” And that’s why I’m personally planning to invest over $100,000 in these stocks.
Go here for urgent details – it’s my #1 trade for 2022.
Yours in Wealth,
Ian Wyatt