February 25, 2024

Paul Pelosi's stock trades under renewed scrutiny in wake of Nvidia windfall

Critics of the Pelosi family's startling successes in the stock market have new fodder for their suspicions, as it was recently revealed that Rep. Nancy Pelosi's husband, Paul Pelosi, recently made a staggering $1.25 million in a mere three months due to his purchase of call options in computer chip firm, Nvidia last fall, as Fox News reports.

Mr. Pelosi is said to have bought somewhere between $1 million and $5 million in the aforementioned options back on Nov. 22, though the transaction was not reported for another month.

Trading history scrutinized

As Fox News explains, the transaction described above was not Paul Pelosi's first involvement with Nvidia and not the only one that has drawn attention.

Back in 2022, Mr. Pelosi bought another $1 million in call options just ahead of a congressional vote on subsidies that would benefit the computer chip making industry.

Though Paul Pelosi sold the options after his wife drew the ire of those suspicious of insider trading in Congress, the controversy has yet to dissipate, particularly given his recent profit.

Back in 2021, the Pelosis courted additional skepticism when Paul Pelosi exercised lucrative Alphabet call options prior to a House Judiciary Committee vote on curtailing tech company powers, and months prior, he bought large amounts of Microsoft stock in advance of the company's announcement that it had snagged a massive federal contract.

Belfort's take

The Pelosis' apparent stock picking prowess has grown to become the stuff of legend in the financial prognostication realm, but according to Jordan Belfort, also known as the “Wolf of Wall Street,” the explanation for their market-beating abilities is a simple one, as he recently told Tucker Carlson.

According to Belfort, the family's winning streak has to do mainly with its ability to leverage inside information within a stock system that is fundamentally “rigged.”

After reciting some of the Pelosis' impossibly good results in the market, Carslon asked Belfort, “So how does Nancy Pelosi, do you think a stock-picking genius?”

Belfort replied, “No, she has to be operating on information that's non-public.”

“But it's inconceivable that someone could have that high return on the market when everyone else can't do it. So what's the edge? The edge is she knows key legislation – and also, you know, maybe someone's whispering in her ear. Okay? Because, you know, they want to be on her good side, right?”

Echoing the sentiments of millions, Belfort added, “It's like we're living in an alternative universe right now where people in power, especially on the Left -- right -- can operate almost with impunity, and Pelosi is a perfect example.”

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