Congressional Trading in 2021
Our congressional members have been privy to the conversations and negotiations that have formed Biden’s legislative agenda. These have been taking place throughout the year in meetings behind closed doors. All the while, our elected officials have also been actively trading stocks, options and other financial assets.
- Big legislative events (such as the Infrastructure Bill getting passed by the Senate) were often preceded by politicians trading in the sectors affected. There were tons of unusual trades where politicians made millions of dollars.
- Notably, Senator Tommy Tuberville bought up to $1.84 million in non-energy mineral stocks. These included copper ($SCCO, $FCX), steel ($X, $CLF), aluminum ($AA) and other infrastructure-related stocks ($EXP, $BHP) before Biden signed his Big Infrastructure Bill. Tuberville later sold up to a third ($660k) of these stocks.
Remember, Donald Trump LOST more than a billion dollars of his fortune while President.
If we were to try to hang all these bastards we’d run out of rope.