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return2ozma@lemmy.world to A Boring Dystopia@lemmy.world · 7 months ago

Members of Congress again outperformed the stock market, report shows

fortune.com

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  • cross-posted to:
  • politics@lemmy.world
  • news@lemmy.world
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Members of Congress again outperformed the stock market, report shows

fortune.com

return2ozma@lemmy.world to A Boring Dystopia@lemmy.world · 7 months ago
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  • cross-posted to:
  • politics@lemmy.world
  • news@lemmy.world
"When Congress members consistently outperform benchmarks like the S&P 500, it raises serious questions about fairness."
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  • cultsuperstar@lemmy.world
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    7 months ago

    “Keeping the Rich rich and the Poor poor since forever.”

  • deaf_fish@lemm.ee
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    7 months ago

    Surprised Pikachu face

  • FeloniousPunk@lemmy.today
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    7 months ago

    Makes me want to turn to a life of crime.

    • Kbobabob@lemmy.world
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      7 months ago

      FeloniousPunk for Congress.

      • FeloniousPunk@lemmy.today
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        7 months ago

        I pledge a chicken in every mosh pit

    • roofuskit@lemmy.world
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      7 months ago

      Yeah but you have to have a lot of money to get elected.

    • doctortofu@reddthat.com
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      7 months ago

      Problem is, unless you’re rich and powerful crimes tend to have consequences - they only “just let you do it” when your account balance already has a certain number of digits…

  • This is fine🔥🐶☕🔥@lemmy.world
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    7 months ago

    Removed by mod

  • Sanctus@lemmy.world
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    7 months ago

    We should riot

    • FenrirIII@lemmy.world
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      7 months ago

      Rioting? In this economy?

    • djsoren19@yiffit.net
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      7 months ago

      Won’t ever happen. Americans are complacent fools. They’ll starve themselves for years if you promise them bread tomorrow.

    • guldukat@lemmy.world
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      7 months ago

      Oh yes by all means. Occupy Wall Street worked so well.

      • Lost_My_Mind@lemmy.worldBanned from community
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        7 months ago

        Occupy wallstreet was a peaceful protest, which started to work, so the media shut it down.

        These L.A. wildfires are either approaching or have already hit rich people neighborhoods, and aren’t expected to stop anytime soon.

        It wouldn’t surprise me if these fires started with the idea of burning the elite in mind. I’m not saying that’s the case, but if it is…damn. Last I heard these fires already did like 3 billion in damage. If they hit the mansions it’ll probably trillions.

    • ExtremeDullard@lemmy.sdf.org
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      7 months ago

      Lead the way…

      • RedditRefugee69@lemmynsfw.com
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        7 months ago

        So many more comments calling for revolution, riots, and assassinations than there are in actuality.

        Easier to talk big talk I guess.

  • Chemical Wonka@discuss.tchncs.de
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    7 months ago

    deleted by creator

  • originalucifer@moist.catsweat.com
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    7 months ago

    duh. its codified, theyre allowed to legally perform insider trading by their own decree.

    • FlashMobOfOne@lemmy.world
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      7 months ago

      Fun fact.

      As an investor, you can ride their insider-trading coattails legally by investing in the ETF’s NANC or KRUZ.

      • originalucifer@moist.catsweat.com
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        7 months ago

        isnt this the disgusting reminder that they also made it so no one can find out their trades until 30 days later… purposefully giving their self-made-legal insider trading illegal for regular people?

        • FlashMobOfOne@lemmy.world
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          NANC is up 53% over the last five years.

          KRUZ is up 27% over the last five years.

          Those aren’t Pelosi numbers, but pretty good. You could do a whole lot worse.

          • CaptSneeze@lemmy.world
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            7 months ago

            deleted by creator

            • TexMexBazooka@lemm.ee
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              7 months ago

              NANC in particular matches SPY pretty closely, but with no dividend

              KRUZ under performs

          • TexMexBazooka@lemm.ee
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            7 months ago

            NANC and KRUZ are both only two years old…

          • NotMyOldRedditName@lemmy.world
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            7 months ago

            The S&P500 is up 75.38% in the past 5 years, so following Nancy via the ETF wasn’t anything special.

            We all know she did better than that 53% though…

            • TexMexBazooka@lemm.ee
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              As of time of posting it SPY is up 91.6% in 5 years

              But that’s not really a good comparison because the unusual whales funds are both new, started in 2023.

              NANC mostly matched SPY since its inception, +1% or so

              KRUZ actually under performed to date, with a 27% increased since inception as opposed to NANC’s 52%.

              • NotMyOldRedditName@lemmy.world
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                7 months ago

                I’m not sure what you’re looking at but its 80% today, and it really was 75% yesterday. I’m not the only one who posted as much.

                Maybe you’re looking at a CAD version that has FX as part of it?

    • ExtremeDullard@lemmy.sdf.org
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      7 months ago

      Perish the thought!

      I’m convinced members of congress consistently outperform the market because of their superior intelligence. After all, we elected them, so by definition they’re the best of us. Right?

      • Nightwatch Admin@feddit.nl
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        7 months ago

        Nice, your sarcasm is so acidic it is almost eating away my phone screen

        • chingadera@lemmy.world
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          7 months ago

          Weird, on my end, it’s eating my fucking soul.

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    And once again Pelosi is highlighted despite many Republicans outperforming her in the market.

    She hasn’t been Speaker of the House for 2 years.

    • toiletobserver@lemmy.world
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      I’m an equal opportunity rule enforcer. Throw them all in federal prison.

      • Lost_My_Mind@lemmy.worldBanned from community
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        Removed by mod

    • Zaktor@sopuli.xyz
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      She’s consistently a top trader and personally derailed efforts to ban stock trading. I think she deserves the heat.

      • FlashMobOfOne@lemmy.world
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        7 months ago

        Abso-fucking-lutely.

      • Blue_Morpho@lemmy.world
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        Other Republicans are consistently ahead of her. They also voted against banning Congressional insider trading.

        Yet it’s only Pelosi.

        • theunknownmuncher@lemmy.worldBanned from community
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          Removed by mod

        • Zaktor@sopuli.xyz
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          She was the minority/majority leader. She didn’t just vote against it, she organized toothless counter proposals to defuse momentum. She’s more responsible than any of those other (also terrible) Republicans.

  • aesthelete@lemmy.world
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    They’re capitalists, in that they capitalize on their insider knowledge and send others to jail for doing the same thing.

    • Caveman@lemmy.world
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      It’s not insider knowledge when politicians do it since they’re not insiders of the company with more knowledge about the company than other people. They just happen to control the political environment and the contracts they get 🙃

  • TexMexBazooka@lemm.ee
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    NANC

    KRUZ

    Two of the safest investments you can make

    • GrammarPolice@lemmy.world
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      Didn’t know what these represented till i googled them😂

      • TexMexBazooka@lemm.ee
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        I got a kick out of it when I found em

    • Notyou@sopuli.xyz
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      Thanks for the tip. I just checked them out.

  • some_guy@lemmy.sdf.org
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    They’re incredibly smart people. That’s why they’re in office. It’s only natural that their smarts would cascade over to markets. Nothing to see here. /s

  • MTK@lemmy.world
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    Wow, crazy that members of congress are on average better than most investors, maybe they should change careers!

    No… Seriously… Please change careers…

  • italics2@lemmy.world
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    Why are they allowed to play the stock market? Is it not a conflict of interests? Edit: Typo

  • Lettuce eat lettuce@lemmy.ml
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    SEC for thee, but not for me.

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