Thread by @Chrisjjosephs

Joe Biden just pushed for a ban on congressional stock trading

“Nobody should make money in the stock market while in the Congress"

Since we run the Pelosi Tracker & have $300M invested alongside Politicians' portfolios on Autopilot

Here's how absurd their trading has become🧵

To start, we gotta give credit to Biden here

He was the politician who pushed for and got the Stock Act passed back in 2010

Before that bill, Politicians had free reign to trade whatever and however they wanted

However, the 45 day delay never really made any sense

And back in July, Senators stuck a deal to ban it

- Bans Congress from trading 90 days after the bill is signed
- Bans spouses/dependents from trading stocks starting March 2027
- If one violates the bill, the penalty is 10% of the value of the asset traded

It's stalled since

To put that penalty into context, in the last three years over $45,000,000 of stock trades violated the Stock Act

If that penalty existed, it would have been $4M+ in fines for our beloved politicians

The penalty currently is $250/filing

That's less than some parking tickets

Now diving into the politicians themselves

Even during an election year, they've been quite active

Total Politicians who traded: 84
Total trade volume: $105,000,000
Total trades: 7,018

On performance, the most well known name took the crown (estimates)

Top 5 unrealized profits (YTD):

Nancy Pelosi (D): $38.6M
Mitt Romney (R): $20.9M
Mark Warner (D): $14.0M
Pete Ricketts (R): $13.6M
Mitch McConnell (R): $8.1M

And her wrapped makes it even more ridiculous

Mike McCaul led the way with the most traded YTD volume

Mike McCaul (R): $65M
Josh Gottheimer (D): $48.8M
Nancy Pelosi (D): $14M
Tommy Tuberville (R): $6.9M
Scott Franklin (R): $5.9M

While Josh Gottheimer was the most active of the bunch

Josh Gottheimer (D): 480 trades
Mike McCaul (R): 338 trades
Tommy Tuberville (R): 262 trades
John James (R): 159 trades
Kathy Manning (D): 154 trades
Marjorie Taylor Greene (R): 118 trades

But what's also changed in 2024 is that retail became sick of watching from the sidelines

Investing alongside their trades became mainstream

"Because what better way to highlight the hypocrisy of their trading than to literally invest alongside them"

And Retail should be able to get in on the action

And $300M+ has joined in and is actively trading alongside the top Republican & Democrat on Autopilot

It's like a politicians own mini "hedge fund"

But after Biden's remarks, the question now becomes what happens next

We run an 800,000+ followed account on Instagram and asked the community

"Will a ban happen?"

We'll just have to wait and see