Nancy Pelosi has some explaining to do after this suspicious financial report surfaced
Nancy Pelosi played with fire.
Pelosi may have just got burnt.
And Nancy Pelosi has some explaining to do after this suspicious financial report surfaced.
Due to their oversight powers, members of Congress are privy to insider information about the companies they regulate.
The performance of Nancy Pelosi’s stock portfolio is often cited as a reason to ban members of Congress from trading stocks.
Between 2008 and 2022, Nancy Pelosi saw her net worth skyrocket by $140 million due in large part to the magic touch in picking stocks.
2024 was another very good year for Nancy Pelosi’s stock portfolio, as it outperformed the S&P 500 by nearly 200%.
“Pelosi’s portfolio grew 70.9% between Dec. 29, 2023, and Dec. 30, 2024, compared to the S&P 500’s 24.9% return for the period, according to financial data platform Unusual Whales’ 2024 Congress Trading Report. The former speaker’s 2024 investment results exceeded her stellar 2023 performance, when she secured a return of 65.5% — outperforming that year’s S&P 500 return of 24.8% by approximately 164%,” the Daily Caller reported.
Pelosi’s portfolio also beat many of the world’s most successful hedge funds.
“Pelosi outdid many of the world’s oldest and largest hedge funds in 2024, including Citadel, which had $66 billion in assets under management as of December, and Discovery Capital, which has been around for over 25 years and had $15 billion in assets under management at its peak. She also outperformed legendary investor Warren Buffet’s Berkshire Hathaway, more than doubling its 27.1% 2024 return,” the Daily Caller also reported.
Pelosi’s office told the Daily Caller that her husband Paul owns all stocks and handles all trades.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” the statement from Pelosi’s team read.
But Paul Pelosi also has the magic touch.
One month before the Justice Department opened up an anti-trust investigation into Google, Paul Pelosi miraculously dumped $1.5 million worth of parent company Alphabet’s stock.
Pelosi’s gangbusters stock portfolio is why Missouri Republican Senator Josh Hawlyer introduced the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in January 2023.
“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,” a statement from Hawley announcing the legislation read.
“As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again,” the statement continued.
Nancy Pelosi previously opposed a ban on members of Congress owning stock.
Even Joe Biden recently came out in favor of banning members of Congress from owning stock.
But will Congress ever get around to passing such legislation?
