Pelosi’s Impeccable Investment Timing
The sleazy Pelosis are at it again, buying tech stock just ahead of big congressional subsidies.
The corruption of a powerful family with a long history in Washington, DC, has been the subject of much digging and reporting in conservative media (while the mainstream media largely ignored or suppressed it). But enough about Joe and Hunter Biden. We’re talking about Paul and Nancy Pelosi.
Right up front we’ll be sure to issue a caveat: At this point, the corruption is only in appearance, but boy is that appearance ugly.
Paul Pelosi, fresh off a DUI charge at the end of May, recently cashed out some investments and purchased others. The interesting thing isn’t something normal Americans do every day; it’s that he bought up to $5 million (20,000 shares) in a computer chip company set to cash in on major federal subsidies.
In February, the House passed a bill allocating $52 billion for the semiconductor chip industry, and the Senate is set to vote on it soon. In January, Speaker Pelosi tweeted, “The #AmericaCOMPETES Act will supercharge our investment in CHIPS, advance manufacturing at home, strengthen our supply chain, transform our research capacity and advance our competitiveness and leadership abroad, plus many other key provisions.”
It remains to be seen whether those subsidies will actually speed the supply of much-needed and hard-to-get chips, but the money certainly increases the value of the companies receiving it. That includes Nvidia, the company in which Paul Pelosi just heavily invested.
In other words, the Pelosis’ $5 million will soon be worth much more than that.
“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” said Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen. You don’t say.
Now, this sort of thing isn’t exactly unheard of among our elected representatives. There are plenty of examples from both parties of congressmen or their families seeming to make just the right trades based on things happening in Congress. But this also isn’t new ground for Nancy Pelosi, who we noted earlier this year has been winning big on Wall Street, especially in the Big Tech sector she’s been slow-walking efforts to regulate. She claims it’s not her but husband Paul, who is indeed an avid trader.
But she’s not exactly eating cheap ice cream out of a $500 freezer, either.
“According to reports,” said economist Larry Kudlow in January, “she and her husband … have traded over $50 million in assets over the past year with annualized returns at 69% as of October, according to an estimate from the Nancy Pelosi portfolio tracker. That’s higher than [Warren] Buffett, George Soros, Cathy Wood, and other star investors. Apparently, the Pelosi portfolio beat the S&P 500 by 4.9 percent in 2019 and a big 14.3% gain in 2020. … Ms. Pelosi is becoming a cult figure among stock investors.”
The Pelosis have a net worth well north of $100 million.
Update: Pelosi’s staff responded that she knows nothing. “The Speaker does not own any stocks,” says spokesman Drew Hammill. “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.” Wink wink.
Start a conversation using these share links: