• fossphi@lemm.ee
      link
      fedilink
      English
      arrow-up
      67
      ·
      7 months ago

      The latency is too much. By the time us plebs get the data, it’s all accounted for

    • givesomefucks@lemmy.world
      link
      fedilink
      English
      arrow-up
      34
      ·
      7 months ago

      There’s like a week or so delay in them having to report trades, by then you’ve missed the profit, drive there’s up a little, and when they sell it drops the price because they have a bunch of shares.

      A week later you find out they sold, maybe make a slight profit if your fast. Then you hear what they bought a week and go give them even more money.

      Because all the extra money following them, them selling a company could domino into real world consequences at the company like layoffs.

      The system is broken. We’re past the point of “gaming” it for scraps. We need a better system or we’re fucked.

    • PM_Your_Nudes_Please@lemmy.world
      link
      fedilink
      arrow-up
      23
      ·
      7 months ago

      People have already tried and failed doing exactly that. Because they aren’t required to report their trades when they’re making them; There’s a significant gap in reporting, so by the time the trade gets reported the stock has already increased/decreased like the congressperson expected.

      For instance, let’s say [Generic Congressperson] sees a bill that will help a particular company. They know this bill is going to pass. So they buy stock in the company, vote for the bill, and the stock goes up. They then sell the stock. Three months later, those trades get reported. And now it’s too late, because the company’s stock has already been boosted. So buying now would just be buying after the boost.

    • GenEcon@lemm.ee
      link
      fedilink
      arrow-up
      11
      arrow-down
      3
      ·
      7 months ago

      This is quiet a bet. All congress members are distributed in a Gaussian distribution around the S&P 500. So copying everyone would just give you the same average. So you would have to pick the members, who outperform consistently. But this changes year over year. For example Pelosi outperformed in 2023, but underperformed in 2022.

      And at that point you could just buy individual stocks – or even better: stick to a market neutral ETF.

      • bort@sopuli.xyz
        link
        fedilink
        arrow-up
        1
        ·
        edit-2
        7 months ago

        just pick one that

        outperformed every year, or
        sits in the right comittees, or
        is republican or
        is most likely to be corrupt (e.g. gets the most corporate donations)

        and you can limit yourself to the stocks that are relevant to their positions.