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The NPR Politics Podcast
Trading Stock, Congressional Style
Jul 4, 2024
Congressional correspondent Deirdre Walsh delves into how members of Congress and their families trade stock. The podcast explores ETFs tracking lawmakers' investments, the ethics of mimicking their strategies, and a reindeer outperforming politicians in stock-picking. Hosts experiment with congressional stock investments, advocating for a ban on individual stock trading by Congress members.
09:57
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Quick takeaways
- ETFs Nance and Cruz mimic Congress members' stock preferences, revealing divided party investments.
- Proposed 'Ending Trading and Holdings in Congressional Stocks Act' aims to prohibit lawmakers from individual stock trading.
Deep dives
ETFs Modeled After Congress Trades
A trader created ETFs based on trades by members of Congress, using publicly available disclosure forms to mirror Democratic and Republican lawmakers' investment strategies. The ETFs, Nance and Cruz, reflect the different parties' holdings, with Nance showing Democratic preferences for software and pharmaceuticals, while Cruz leans towards oil and gas companies. Despite performance variations, questions arise on lawmakers potentially using inside information for market gains.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode