Originally posted by GeneV 9% better than the S&P 500 doesn't say too much to me without a lot more info. My financial advisor has always had us in funds that did a lot better than the S&P 500. I'd worry more about the ones in both parties who get rich on a spouse who is a lobbyist.
The article says that it is common stock transactions - not mutual funds or other types of assets. 22%, sustained over 16 years is Warren Buffett territory. And in order for Buffett to be credited with that you are talking about he is owning a lot of companies in his portfolio and is able to heavily influence their management.
Originally posted by jeffkrol Are you complaining about Capitalism's winners and losers again??
I am complaining about the referees placing bets on the games they are officiating in.
Currently, if Boeing and Northrup are both bidding on a $20 Billion contract, members of congress might be know the successful bidder before it is announced. They can use that information to go buy stock in the winner and short the loser.
They are letting lobbyists write laws to benefit certain companies and are being presented with how it will benefit that company, they also see lobbyists trying to keep laws from being passed and they get presented with exactly how the law will hurt the company. So they know this information way before the market does. Like with the ACA, after that was passed AT&T took a $1 Billion charge because it affected the way they cover their retirees. Do you think that came as a surprise to ATT or to lawmakers? I do not.