“Pelosi’s 16,930% Return” - Her Stock Trades Spark OUTRAGE Over 38-Year $130m Windfall
Episode Stats
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Summary
Former House Speaker Nancy Pelosi is stepping down after 37 years in Congress. She is leaving at the age of 85 and will be replaced by her husband, former Vice President Joe Biden, who has a net worth of more than $135 million.
Transcript
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If you've got big plans for 2026 with your investments,
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I mean, listen, she is like, folks, can you do me a favor?
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And you know, you know all of these investments she made
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She's got that gut, the instinct, the intuition.
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By the way, you're about to find out what their net worth was
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before they started investing to where they are today.
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Reportedly raking in more than $130 million in profits
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from trading stocks during their 37 years in Congress.
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That's according to a new report by the New York Post.
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The former House Speaker saw a whopping return of nearly 17,000%
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The guy who's like, who knows how hard is that?
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For taking office in 1987, a financial forum showed California
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Democrat and her husband reporting up to $785,000 to $133,000.
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The report comes days after the 85-year-old announced
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This is the kind of stuff that makes people just hate government,
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She just brought away from it with nothing happening to her.
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It's a very, very profitable business to be in, politics.
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You know, what I don't like is every once in a while when you get a legend
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that comes through, people don't want to give her credit.
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Listen, she is possibly the greatest insider trader in the history of politics.
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No, no, she's, you know, she's right up there on Mount Trademore.
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Why can't they just have her move her office across the street
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and manage the Social Security Administration trust fund?
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You know, she'd be doing a service to people on Social Security like her.
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She's about to receive a Social Security check.
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Every now and then, an innocent man is sent to the legislature.
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And what I, when we hear all the jokes that we make, led by me,
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I do think it's really pathetic that we don't have conflict of interest
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or insider rules for our elected officials, and we make jokes about it.
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Everybody makes jokes about it because it's just joke in plain sight.
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So Martha Stewart over a less than $200,000 gain.
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And this person made $133 million for the time she did in Congress.
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It just, it's, we got to give greater voice to the people
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And there's, there's been a couple of them this year, right, Pat?
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That people have been trying to put trader bills out there on them
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And I think that Congress just needs to get serious.
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But can you at least vote that there's no insider trading in Congress?
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You think she's stepping away because of being age and done and healthy?
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You think she's stepping away because this Congress not being able to invest
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is getting so close that on both sides they want to pass it
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that she just wants that to be gone and doesn't happen under her watch?
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She's holding the elbow of somebody who's like escorting her.
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I mean, to be fair, by the way, I'm just being observant, right?
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You observe where you see Nancy, the security people, the people next to her.
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Number two, you listen to the way she's reasoning.
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She's not saying wild-ass crap the way Biden was.
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She's not shaking hands with ghosts the way Biden was.
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But, Pat, I also believe that's the last thing she wants on her legacy is to have one of those things passed and to have her accounts be the first one at the top of the list for a congressional hearing.
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I have a different take on why, but it'll be a later story that I'll bring her back up.
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So, PBD, can you do some math with me real quick?
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That would give you an average rate of return each year.
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If that's a straight return, yes, but you have to use compound interest.
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So to ask, if I started with $785,000 in an account in 1987, and now I have $133 million
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So I think it's still a big number, by the way.
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It should be a big number because you're dealing with compound interest is what you're dealing
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But what I'm trying to find out is what is the annual...
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Because the average annual return on the S&P 500...
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See, it says if you want, I can do the annual...
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Because, Tom, the average annual rate of return is 8% to 10% from the S&P 500, right?
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So it doesn't seem like an absurd number to average 15% a year, does it?
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But the part that sounds absurd, you have to also realize that's how much is in the portfolio.
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They're guesstimating their net worth is around $250 million.
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You're assuming the $7.85, they never took money out to buy a house or buy weddings and
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But I would say they're probably at 30% to 40% rate of return with some of the activities
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And specifically, I know we kind of clown on Paul Pelosi after that rendezvous with the
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Because I assume he's the moneymaker in the family.
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So he's a venture capitalist and he's an investment investor?
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He just listens to what she gets from the insiders and that's what she does.
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So why is nobody, if she is doing something illegal, do you think she's done something
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actually illegal and broken the laws or are our stock act laws so gray that politicians
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can just maneuver within this with no accountability and you can just yell at them and call them
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You know, you know what I've been doing with autopilot since July 1st.
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I went in and looked at those lists of things and the things that were bought and, you know,
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Palantir showed up and came and went, you know, before the announcement on Congress.
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And remember, they're reading off all of the forms that have to get filed.
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And so the interesting thing about all this is that you can see the trades happening there
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and CNN and others and Fox have pointed out trades that were made by our elected officials
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and then three weeks later there's a bill that says, oh, you, you, and you get the government
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Do you think, do you think people who are in office, who have access to information that
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you don't have, they should be able to invest in a market based on information that they
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Should they be able to actively trade based on information?
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I feel like there should be a rule that you cannot do active trading, right?
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But I assume, who's the Republican version of Nancy?
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Yeah, but she's the highest ranking person to do what she's done at the levels that she's
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But there's Republicans guilty of this as well.
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Romney is, well, Romney was a successful guy before.
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But you could have a few other guys here that could be, like Mitch McConnell is a good
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What I'd be most interested in hearing is what politicians from the left and the right
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Who is our buddy that was here that's the representative in Silicon Valley?
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Isn't he actively talking about something like this?
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AOC is a few different people are on both sides.
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Even Ana Paulina Luna that was here the other day.
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Senator Mark Kelly set up an ethics committee, approved blind trust and demonstrated that
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he had moved all of his assets into the blind trust.
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And the blind trust purpose is for the independent financial advisors to trade limited, limited
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And he is not part of the decision making process.
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Because you know in an index fund or a passive fund, you're not in and out of the market.
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You're not trading based on information or new stock that might come up.
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The active tradings, I think, are where people get in trouble.
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I feel like they should put a law or some sort of guideline.
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It's on trying to ban or restrict lawmakers from trading individual stocks because of
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concerns about access to non-public information.
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John Ossoff, Senator George, he's a Democrat, sponsored the Senate Ban Congressional Stock
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Then you have Mark Kelly, Arizona, who is also a Democrat, worked with Ossoff on the same
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Then you have Josh Hawley as well, Republican, out of Missouri, who has joined it as well.
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You got Dean Phillips that I think he wanted to run for president.
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Yeah, Minnesota, co-sponsored it, and then Ro Khanna, who we talked about earlier.
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I disagree with a lot about Ro Khanna, but he would know in his district.
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The individual stocks is where you get into hot water.
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Because I think a politician, if they have a 401k, listen, a politician, this is how they're
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In their 401k or 403b or whatever it's called in Congress.
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They should not be able to trade individual stocks.
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If you're trading in and out of stocks, that's where it kind of comes into all this.
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That's the longest pause you've ever taken in your life.
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You know how when you invest in the market, PPD.
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Warren Buffen says, listen, put your money in S&P 500 and just invest in America.
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But that's not your only component of an asset allocation.
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What percent of your asset allocation is in an American funds, American companies versus international?
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Apparently, if you want to do a world index, like a world conglomerate, whatever you call it, they mandate that you do two-thirds of your portfolio into America and one-third into international.
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Over the last 10 years, what has been the rate of return for the S&P 500 versus whatever you're calling the world index that has emerging markets and everything?
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And basically, it was double the rate of return, America versus the international.
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I go, so why am I invested in international at all?
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Every single one of these politicians should be in an ETF, S&P 500, all in America.
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I don't need you investing in emerging markets in India.
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I don't want you talking about a new company in Bangladesh.
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100% of their stock allocation should be in America, and you should not be able to actively trade in and out of it.
00:14:54.440
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