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pilight
Joined: 23 Sep 2004
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 Posted: 10/26/05 12:03 pm ::: Senators = geniuses? |
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http://www.newyorker.com/talk/content/articles/051031ta_talk_surowiecki
Last year, Alan Ziobrowski, a professor at Georgia State, headed the first-ever systematic study of politicians as investors. Ziobrowski and his colleagues looked at six thousand stock transactions made by senators between 1993 and 1998. Over that time, senators beat the market, on average, by twelve per cent annually. Since a mutual-fund manager who beats the market by two or three per cent a year is considered a genius, the politicians’ ability to foresee the future seems practically divine. They did an especially good job of picking up stocks at just the right time; their buys were typically flat before they bought them, but beat the market by thirty per cent, on average, in the year after.
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Retav8or
Joined: 15 Oct 2004
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| Posted: 10/26/05 12:22 pm ::: Re: Senators = geniuses? |
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| pilight wrote: |
http://www.newyorker.com/talk/content/articles/051031ta_talk_surowiecki
Last year, Alan Ziobrowski, a professor at Georgia State, headed the first-ever systematic study of politicians as investors. Ziobrowski and his colleagues looked at six thousand stock transactions made by senators between 1993 and 1998. Over that time, senators beat the market, on average, by twelve per cent annually. Since a mutual-fund manager who beats the market by two or three per cent a year is considered a genius, the politicians’ ability to foresee the future seems practically divine. They did an especially good job of picking up stocks at just the right time; their buys were typically flat before they bought them, but beat the market by thirty per cent, on average, in the year after. |
Did they just survey the Washington "insiders".
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vanyogan
Joined: 09 Aug 2005
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| Posted: 10/27/05 3:31 pm ::: Re: Senators = geniuses? |
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| pilight wrote: |
http://www.newyorker.com/talk/content/articles/051031ta_talk_surowiecki
Last year, Alan Ziobrowski, a professor at Georgia State, headed the first-ever systematic study of politicians as investors. Ziobrowski and his colleagues looked at six thousand stock transactions made by senators between 1993 and 1998. Over that time, senators beat the market, on average, by twelve per cent annually. Since a mutual-fund manager who beats the market by two or three per cent a year is considered a genius, the politicians’ ability to foresee the future seems practically divine. They did an especially good job of picking up stocks at just the right time; their buys were typically flat before they bought them, but beat the market by thirty per cent, on average, in the year after. |
Listening to the latest "Senator" condemn oil companies for having the gall to get $.10 on the dollar ROI(oil prices have doubled but profits have not), points out a GLARING omission in the Freedom of information act.
Corporate insiders are REQUIRED to publicly report their trades.
WHY IS IT THAT SENATORS AND CONGRESSMAN, the ultimate insiders, are not required to publicly report their trades, 401K or otherwise?
It's unseemly. You can have a Senator publicly lambasting an industry or company and secretly profiting off the very same company or industry and the public would never f_cking know about it!
What's that all about? |
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