According to Forbes, prior to the transaction, Paul Pelosi held between $5 million and $25 million worth of Alphabet, Amazon, Apple, and Microsoft and shares, according to his wife's annual financial disclosure report.
The usual response is "insider trading", but this is the opposite of that. Given a normal distribution of returns, we would expect some congresspeople to do really well and some to do really poorly. Also, it would seem as if they found a good strategy of trading large cap tech stocks, which have been among the best performers over the past 10 years. It does not take special connections or insider info to observe how well these companies have done, and then trade on this information.
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[ 3.1 ms ] story [ 14.3 ms ] threadThe usual response is "insider trading", but this is the opposite of that. Given a normal distribution of returns, we would expect some congresspeople to do really well and some to do really poorly. Also, it would seem as if they found a good strategy of trading large cap tech stocks, which have been among the best performers over the past 10 years. It does not take special connections or insider info to observe how well these companies have done, and then trade on this information.
That they're invested in tech stock is the least shocking thing imaginable.