TikTokers Are Trading Stocks By Copying What Members Of Congress Do
22nd September 2021
Young investors have a new strategy: watching financial disclosures of sitting members of Congress for stock tips.
Among a certain community of individual investors on TikTok, House Speaker Nancy Pelosi’s stock trading disclosures are a treasure trove. “Shouts out to Nancy Pelosi, the stock market’s biggest whale,” said user ‘ceowatchlist.’ Another said, “I’ve come to the conclusion that Nancy Pelosi is a psychic,” while adding that she is the “queen of investing.”
“She knew,” declared Chris Josephs, analyzing a particular trade in Pelosi’s financial disclosures. “And you would have known if you had followed her portfolio.”
Last year, Josephs noticed that the trades, actually made by Pelosi’s investor husband and merely disclosed by the speaker, were performing well.