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by Hedgemaster 1736 days ago
And guess what? This following of "smart money" is in fact a self-fulfilling prophecy: after let's say Pelosi/her husband bought some stocks some large group of retail traders jump in and pump the price higher.. It likely has a negligible effect on highly liquid names like AAPL or GOOGL but might cause a significant price move for a smaller/less liquid names
1 comments

And by doing that, we're further enriching members of Congress. We should be taking a mass oath to sell any stock they buy. Then, of course, they'd only invest in potential opponents' corporations. It could turn into a real arms race.
We need to just pass a law already that forbids them from purchasing or owning individual stocks. After all, assuming they aren't trading on insider information, it would be to their own benefit anyway.
Then their cousins and very close friends will do the trading on their behalf.
Yes, that's a better but less funny suggestion, and would be more practical if they didn't pass the laws.