Staff Reports
In a shocking turn of events, a report by Unusual Whales revealed that Congressional Democrats outperformed the S&P 500 by seven points in 2023. This news has many conservatives raising their eyebrows and questioning how these politicians managed to trade stocks so successfully while serving in government. The report also highlighted concerns that some members of Congress may have an unfair advantage by trading stocks based on information not available to the public.
How ever did they get to be such good traders? https://t.co/bFT8nCRg9y
— Breitbart News (@BreitbartNews) January 2, 2024
Beating the S&P 500 is no easy feat, as it tracks the stock performance of the 500 largest companies listed on the U.S. stock exchanges. The index is known for its diversified exposure, which helps to reduce portfolio risk. It’s no wonder that many stock traders struggle to consistently outperform the S&P 500.
According to the report, Democrats were the big winners in 2023, boasting a 31% return on their stock portfolios. Their success was attributed to heavy investments in the tech sector. On the other hand, Republicans fell short, with an 18% return, largely due to their portfolios being heavily focused on financials, oil, and commodities, which faced challenges throughout the year.
Among the top-performing members of Congress were notable figures such as Rep. Nancy Pelosi, Sen. Susan Collins, and Rep. Dan Crenshaw. However, the ultimate winner was Rep. Brian Higgins, a Democrat from New York, who saw the highest returns on his stock trades.
The report also delved into the overall trading activity of members of Congress, revealing that trading was down in 2023 compared to previous years. It’s worth noting that these lawmakers sold more stocks than they bought, leading to decreased stock trading overall. Senate Republicans were particularly active in the stock market, selling more stocks and engaging in higher buying activity compared to their Democratic counterparts.
While the report sheds light on the financial activities of Congress, it leaves many wondering about the implications of lawmakers engaging in stock trading while serving in government. These findings are sure to fuel further debates and discussions on the ethics and transparency of congressional stock trading.
