Published: October 6, 2021
By: Ines Ferré
When in doubt, pick the same stocks that lawmakers' spouses are buying? That's what retail investors are doing when it comes to trades made by House Speaker Nancy Pelosi's husband, Paul Pelosi, a businessman who owns a real estate and venture capital firm.
Though Nancy Pelosi herself doesn't trade stocks, her husband does. And that's enough for some social traders, who see his trades as hers. "We've been tracking their performance and every single stock she has bought in the last two years has gone up significantly," Christopher Josephs, cofounder of Iris, told Yahoo Finance Live. Iris is a social investing app allowing users to see the same stocks friends, influencers and professionals are buying.
Trades made by lawmakers or their family members are required to be disclosed within 45 days of execution.
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| Speaker of the House Nancy Pelosi (D-CA) and her husband Paul Pelosi arrive for the 42nd Annual Kennedy Awards Honors in Washington, U.S., December 8, 2019. - REUTERS/Joshua Roberts |
"The reason why Speaker Pelosi became so popular was because every trade she was making inevitably turned out to be such a long-term winner," said Josephs.
"Albeit the entire market has gone up significantly, but these are very, very risky bets because she's been buying LEAP options as opposed to just stock," added Josephs.
"It started early in 2020 with Crowdstrike (CRWD), and then she bought Tesla (TSLA), and there were some laws passed pro for the EV market."
"Then she bought Google (GOOG, GOOGL) and then the laws came out that they weren't going to go after Big Tech. And then she just recently bought Nvidia (NVDA)."
Joseph notes each of the lawmaker's disclosed positions has been up 20-30% since their initial investment.
Speaker Pelosi's office sent Yahoo Finance the following statement:
"The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked “SP” for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions."
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