Pelosi’s stocks gain with youth
Nancy Pelosi has a formidable reputation as a negotiator on Capitol Hill but on TikTok she is known as the “queen of investing”.
Ms Pelosi, 81, the Democrat House of Representatives Speaker, is popular with young stock market investors on the social media site who have a new source for tips – the trades of members of congress.
The Stock Act of 2012 – an acronym of Stop Trading on Congressional Knowledge – designed to combat insider trading, requires elected officials to disclose purchases and sales by them and their spouses within 45 days.
Members of the Senate and house have filed 4000 financial trading disclosures this year. Members of congress appear to have an uncanny knack for picking winners.
“Shouts out to Nancy Pelosi, the stock market’s biggest whale (market influencer),” said one TikTok user. Another said: “I’ve come to the conclusion that Nancy Pelosi is a psychic.”
Her office said the trades were made by her husband, the venture capitalist Paul Pelosi, and disclosed under the rules. Nevertheless her official declarations have drawn a devoted following.