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Congressman and Senators Make Great Investors?
Old 06-03-2011, 02:48 PM   #1
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Congressman and Senators Make Great Investors?

Interesting article on the investment prowess of our legislators:

congressmen-outperform-stock-market-barrons: Personal Finance News from Yahoo! Finance=&
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Old 06-03-2011, 03:04 PM   #2
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Duuhhh...

Quote:
Let me translate from the proper academic usage. Members of Congress used inside information gleaned from their positions of power to enrich themselves in the stock market. The more powerful Senators enriched themselves more than members of the House
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Old 06-03-2011, 03:14 PM   #3
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How about a new hedge fund or index that tracks their portfolios
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Old 06-03-2011, 07:04 PM   #4
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From reading an account of Hilary Clinton's emergence on the national scene (sorry I can't recall the source), I got the impression that the exceptional investment performance is more due to bribes than it is to insider information per se. Money is passed indirectly from insiders by giving investment advice on sure things, rather than cash, making it much more difficult to trace, or even detect, than a direct payoff would be.
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Old 06-04-2011, 06:51 AM   #5
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Originally Posted by GregLee View Post
I got the impression that the exceptional investment performance is more due to bribes than it is to insider information per se.
Here in Chicago/Illinois,political bribing is a normal part of life. Politicians and patronage workers expect it. Citizens and business are trained to provide it. Votes and political outcomes are always for sale. Only politicians who bring the practice too boldly to light are frowned upon. (Blagojavich).

Investing = paying to obtain a political office or patronage job which will reward you with financial gains.
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