- Aug 3, 2012
- 30,406
- 30,210
- Country
- United States
- Faith
- Christian
- Marital Status
- Married
- Politics
- US-Democrat
I'm about to reply to every individual thing here but can we just pause here for a second and zoom out? Nancy Pelosi's annualized return in the last 5 years is 22.8%.
No, it isn't. Congressional financial disclosure don't list asset values in specific dollar amounts. They assign them extrememly broad ranges. I can't remember what the sub-$500k brackets look like, but IIRC, above that, they go:
- $500k-$1m
- $1m-$5m
- $5m-20m
Some of Pelosi's investments over the last few years have ticked up from one bracket to the next. Every article I've seen has done the math as if the actual value was the ceiling of each of those brackets.
IOW, if the value of one of her investments went from $999,999 to $1,000,001 (i.e. enough to move it from the $1m bracket to the $5m bracket), then the NY Post et all would treat is as having increase 400%, from $1m to $5m, which is ludicrous.
I've seen some pieces that calculate her investment returns as if she started with the wealth she had upon entering congress and then never invested any more money after that. Also ludicrous.
Berkshire Hathaway, the best investment firm in the WORLD's annualized return of the last 5 years is 13.6%, nearly HALF that.
What are you talking about? 1.) BH isn't "the best investment firm in the world." 2.) The S&P 500 return from 2019-2024 was 13.2%. The "best investment firm in the world" only beat the market average by 3%?
There are three options here:
1. Occam's razor: She trades on nonpublic information that she has access to by being a politician/insider
2. She is an 85 year old house of representatives member fishing for geriatric Facebook approval by pulling stunts like this who also moonlights as one of the greatest investment geniuses of our time on the side
3. She just got lucky with a few stocks
Don't avoid the question, North. I genuinely wanna see which one you pick
No, there are other options:
The people reporting on her returns are making faulty assumptions and doing poor math (which is demonstrably true).
Her husband is a professional investor / venture capitalist and is likely to have made some bets that paid off well.
Upvote
0