These U.S. politicians made the most from stocks in 2024
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In numerous ways, 2024 has proven to be a pivotal year for Congressional trading. On the one hand, public awareness about elected officials engaging in extensive stock market activity – and frequently engaging in exceptionally suspicious investments – is greater than ever, in no small part due to the many Congressional copy-trading strategies. Indeed, the issue has gained enough prominence that the outgoing president, Joe Biden, recently called for a ban and that some Congresspeople such as Representative Dan Crenshaw, have taken to publicly defending the practice. Receive Signals on US Congress Members’ Stock Trades Stocks Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions. Enable signal Despite the pressure, 2024 has also been a very strong year for politician-traders thanks in equal measure to their own savviness – or access to insider information – and the overall strength of the bull market. With the New Year rapidly approaching, Finbold decided to examine which Congresspeople made the best stock market returns this year. Estimating Congressional stock trading returns To begin with, despite the laws intended to provide transparency about Congressional trading, gauging the investing successes and failures of elected officials is not an exact science. While the STOCKS Act has a deadline for politicians to report their activity, the penalties for overstepping the grace period are minuscule – often even non-existent – leading to some failing to report trades for years. A prime and recent example of this was Representative Darrell Issa, who filed a vast number of trades – almost all of them significantly overdue – within days in late September. Furthermore, the wide range of the exact transactions also complicates matters. For example, it is known that Representative Josh…
Filed under: News - @ December 25, 2024 11:16 am