When a Congressional Democrat Shouts 'Insider Trading' ...
Do they hear themselves?
A funny thing happened on the way to the stock Market rebound. The Democrats went all in on that as proof of Trump wrecking the economy. Schumer (Chuck, that is) even named it the Trump slump. A business day later, the markets had record rebounds, which the Democrats then declared proof of Trump's guilt of insider trading.
President Trump said what I said after the Market dip. What every broker or banker or hedge guy says, and has always said. Buy low, sell high. When the Market overreacts, it’s a great time to buy shares in solid companies with a long track record of returns. Buy cheap. It maximizes your long-term dollar cost averaging.
It is the least “inside thing” you could say, especially when you say it outside. Trump’s remark was public, for everyone. Even if we didn’t know this maxim, the most novice investor does, and they did.
The other thing I remind people is that the Market is a rollercoaster easily triggered. It is also overvalued, so the buying low still takes on a certain amount of risk because a proper correction requires it to go a lot lower. But that’s not my point. I’m not here to provide armchair analysis of markets, and not just because I’m unqualified (I have not held an active license to peddle securities for forty years). The market swing and response begs a few other questions.
Did Trump know the Democrats would yell “insider trading” if he stated the obvious?
I’m trying not to equate superpowers to the guy, but he does stuff, Dems leap off the ledge, and it always turns out that there’s nowhere for them to land. And it may be the TDS talking. They can’t help themselves. But Congressional Democrats wielding accusations of insider trading has to be one of the dumbest Trump traps they’ve ever found themselves in.
Congress is filled with multi-millionaires. Nancy Pelosi is so good at playing at stocks there’s a portfolio you can follow that yields above average returns based on her unique (not insider trading) acumen.
Saying Trump is guilty of insider trading invites scrutiny upon its accusers. Sandy Cortez may already be under a microscope. The former bartender has leveraged a 176K/salary into tens of millions of dollars in a few short years, and she’s in good and wealthy company.
Adam Schiff is demanding an investigation, and I bet Trump’s DOJ will investigate him. Idiot Chris Murphy stepped into it too. Good ole’ Liz Warren, known the world over for her integrity, couldn’t resist either, and the list goes on. Completely clueless as to where this must naturally lead, by their invitation.
I hope President Trump’s DOJ, along with the FEC, takes a good, long look at how so many members of Congress from both parties have struck stock market gold in excess of even the best possible luck.
So, yes, investigate…everyone.
Anybody want to bet on the outcome of that?
They should all be under scrutiny. Let's see their tax returns too!
"Loudly accuse the other side of exactly what you are doing."