This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Nancy Pelosi, one of the most prominent career Democrats in Congress, is a stock-picking powerhouse who has single-handedly inspired a legion of retail traders to start following her stock market moves in an attempt to capture some of that growing alpha—a measure of a stock picker’s ability to generate returns that exceed those produced by the market.
In early July, Nancy Pelosi created a buzz after disclosing a series of new trades just ahead of the July 4 holiday in the US. Specifically, the career Democrat bought Broadcom call options as well as 10,000 shares of NVIDIA, reduced her Visa holdings by 2,000 shares and dumped 2,500 shares of Tesla.
Additionally, on July 31, Pelosi purchased another 10,000 shares of NVIDIA and sold 5,000 shares of Microsoft.
In addition to the physical shares, the prominent Democrat also remains long 500 NVIDIA (LEAPS) calls with a $12 strike price.
Nancy Pelosi has made nearly $15 million on her stock and options positions in the past ten days.
His salary is $200,000.
You can follow her portfolio at Unusual Whales. photo.twitter.com/wb4fTCF0mi
— unusual whales (@unusualwhales) August 23, 2024
This brings us to the heart of the matter. According to a tabulation by Unusual Whales, Nancy Pelosi has seen earnings of around $15 million in the past 10 days. To put that in context, those earnings are about 75x a career Democrat’s annual salary of ~$200,000!
It’s clear that NVIDIA’s thunderous recovery since the Japanese yen carry trade induced nap from early August appears to have played a major role in producing these stellar gains.
We noted in early July that Tuttle Capital was trying to capture the significant retail interest in following Congressional negotiations, particularly those of Nancy Pelosi, applying to the SEC to launch the Tuttle Capital Congressional Trading ETFwhich aims to invest “in equity securities of companies in which sitting members of the United States Congress and/or their spouses have also reported investing through public disclosure filings made by such members of Congress pursuant to the Stop Trading on Congressional Knowledge Act (“STOCK Act”).” This ETF was expected to begin trading in August, but has not done so so far.