Dozens of Congress members outperformed the stock market in 2024. Here’s who gained the most – and why

7 comments

1. The stock market had a record-breaking run last year, but [members of Congress](https://www.independent.co.uk/topic/congress) still managed to outperform it with their portfolios making staggering gains in industries where they wield legislative power and influence, such as tech and energy.

   More than 20 members made almost double the S&P500 average gain of 24.9 percent last year. The top five performers — Rep. David Rouzer (R-NC), Rep. Debbie Wasserman Schultz (D-FL), Ron Wyden (D-OR), Roger Williams (R-TX), Morgan McGarvey (D-KY) — increased the value of their portfolio value by more than 100 percent, according to a [new report](https://unusualwhales.com/congress-trading-report-2024).

   Former House Speaker [Nancy Pelosi](https://www.independent.co.uk/topic/nancy-pelosi), who has become a lightning rod for anger over lawmakers trading in stocks in recent years and has, according to the report, “an almost cult-like following for her financial disclosures,” saw the value of her household’s portfolio rise by 71 percent.

   Read more here: [https://www.independent.co.uk/news/world/americas/us-politics/congress-stock-trading-nancy-pelosi-b2678752.html](https://www.independent.co.uk/news/world/americas/us-politics/congress-stock-trading-nancy-pelosi-b2678752.html)

2. The citizenry is generally in favor of banning stock trading for Congress. Is this a democracy or what?

3. Power corrupts and absolute power corrupts absolutely. Funny that democrats are better at it than the purported clan of business.

4. A tiny sideshow, but a glimpse compared to the rampant corruption that’s on the way.

5. I agree that Congress shouldn’t be allowed to invest directly. Their investments should be in Blind Trusts. That said the spiritual nonsense, specifically surrounding Nancy Pelosi, is ridiculous.

   Pelosi was born rich, has held elected office for over 40yrs , and been in party leadership for over 20yrs. If she was insider trading she’d be a Billionaire! She isn’t. Nancy Pelosi’s net worth is less than Joe Rogan’s ffs. Pelosi and her husband’s net worth combined isn’t even halfway to a Billion. Elon Musk roughly made Pelosi’s entire net worth on average per day since the election.

   I mentioned that Pelosi was raised Rich to highlight that she had money to invest off rip. If she has been insider trading she f*cking sucks at it. Pelosi was speaker of the house when Congress authorized $465 million in govt loans for Tesla in 2010. Had Pelosi invested just a single million in Telae in 2010 she would be a billionaire today. Pelosi was Speaker of the House when the Chips and Science Act was passed. Nvidia’s stock was $15 back then, LMFAO. There are so many deals Pelosi was part of along the way with companies like Northrop Grumman, Lockheed Martin, Microsoft, Raytheon, etc. It is preposterous that she’s not a billionaire if she has been doing what people allege.

6. Some 80 congresspeople are in open violation of the Stock Act and here were are wasting millions of dollars and government resources on a $130k payment to Stormy Daniels from a guy who wasn’t even a public servant at the time.

   Congress gets away with wealth enrichment by abusing their power because we’re partisans who only care that our guy wins. We have exactly the Congress we’ve asked for.

7. The average is below S&P 500, and its forming a bell curve around it. Just by chance you always have some outperfomers, exactly how you have one person rolling 6 sixes on 6 dices, if you let 1.000 people roll.

   Of course it makes good headlines, but any statistical literate person will expect exactly these results. The average is below the S&P 500 and a couple outliers outperform just by chance.

   Nevertheless, congress shouldn’t be allowed to hold individual stock due to conflicts of interest, but not because of insider trading.

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