“Pelosi making millions on risky stock market trades,” Monterey Herald – June 17, 2022
In 2021, House Speaker Nancy Pelosi and her husband made tens of millions on quick trades of several tech companies, during the same period she was overseeing legislation that affected the companies traded. Not surprisingly, these very companies dodged tighter regulations being considered by Congress.
In May 2022, the Pelosis entered into even riskier (out of the money) call option purchases of Apple and Microsoft, at the very time that Congress debated a ban on members of Congress trading stocks. To understand the magnitude of the Pelosi gamble, it is important to know that out of the money call options are highly speculative, and chiefly entered into by one who has inside knowledge that the stock is about to go much higher in the next months.
I make two predictions: (1) That the House, led by Pelosi, will pass no ban on insider trading, and (2) That Apple and Microsoft will improve their prices relative to the general market.
— Dr. C. Michael Hogan, Monterey