Unusual stock trading by members of Congress
stockmarketgame.net> In the first quarter of 2012, while many people were selling stocks during a broad market decline, one US Senator from Georgia purchased $180,000 worth of Cisco Systems shares.
> As a result of the Covid-19 pandemic and subsequent lockdowns, their products are now more relevant than ever. The company’s revenue has gone up by 20% since last year—and it seems like this Senator knew about this before everyone else did.
To suggest that anyone saw anything like Covid19 seven years ahead of time through the data they're privy to is quite the suggestion.
Yeah, especially when you see that 2012 was basically just buying the dip[1].
It's entirely probable that this Senator just got wind of the fact that while their numbers weren't great at the time people are always gonna need telco equipment.
Their acquisitions in 2012[2] could have simply included something the Senator liked.
I'm all for tarring and feathering government officials who profiteer off their advance knowledge, but this seems like an incredibly big reach, bordering on satire.
[1]: https://www.macrotrends.net/stocks/charts/CSCO/cisco/stock-p...
[2]: https://www.cisco.com/c/en/us/about/corporate-strategy-offic...
Nice detailed report about this corrupt nonsense in 2021: https://unusualwhales.com/i_am_the_senate/full
Been a fan of this site for about 2 years. I feel they do a great job of avoiding partisan politics and sticking to the issue (it exists in both blue and red)
>Two senators from Oregon turned a combined profit of $122,000 on iShares Russell 2000 Index Fund between January and March.
This particular trade is not worth worrying about. Wow, some senators traded on an index fund. Must've been some real insider stuff, to know enough material non-public information about a collection of 2000 companies to be able to wring all that profit out of it.
Why does it not mention names until the very last person? It makes the article seem like it has an agenda.