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Washington Beats the Market!!!!

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August 05, 2010 – Comments (8)

Vox day Finds the Story:

Corrupt like a senator

Washington beats the market:

"A 2004 study of the results of stock trading by United States Senators during the 1990s found that that Senators on average beat the market by 12% a year. In sharp contrast, U.S. households on average underperformed the market by 1.4% a year and even corporate insiders on average beat the market by only about 6% a year during that period. A reasonable inference is that some Senators had access to – and were using – material nonpublic information about the companies in whose stock they trade."

I suppose they're just all super-skilled econ-savvy investors, but their performance during the ongoing financial crisis argues convincingly against that.

Are you surprised the CODEVILLA'S Essay has gone viral?

America's Ruling Class -- And the Perils of Revolution

By Angelo M. Codevilla from the July 2010 - August 2010 issue

 

http://spectator.org/archives/2010/07/16/americas-ruling-class-and-the/print

8 Comments – Post Your Own

#1) On August 05, 2010 at 10:38 PM, whereaminow (< 20) wrote:

That essay is freaking awesome. 

David in Qatar

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#2) On August 06, 2010 at 12:08 AM, tomlongrpv (71.15) wrote:

Yeah, the essay is "freaking" that's for sure.  Requiring people to have insurance is like a "bill of attainder?"  Give me a break--people have been required to have auto insurance for years.  The author is a conspiracy theory freak whose opinions are based on nothing but air.

The most laughable part is the author's suggestion that the Democratic party is a highly disciplined and organized "unit."  All of us who are members of that party have to practically choke with laughter on the author's mind boggling ignorance. 

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#3) On August 06, 2010 at 5:29 AM, sana007 (< 20) wrote:

The people are loosing their moral while becoming modern. The
society needs to be attentive that moral value.

___________________________________________

sanakhan

private label rights 

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#4) On August 06, 2010 at 8:29 AM, NOTvuffett (< 20) wrote:

Doesn't everybody know that Hillary Clinton is like a genius at trading cattle futures?

http://www.washingtonpost.com/wp-srv/politics/special/whitewater/stories/wwtr940527.htm

I am just perplexed why all these market-savvy politicians can't fix the economy for all of us working stiffs, lol.

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#5) On August 06, 2010 at 8:34 AM, Melaschasm (55.92) wrote:

I can't believe that anyone would imply that US Senators would use their positions of power to pad their pocketbooks....

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#6) On August 06, 2010 at 9:53 AM, eldemonio (98.81) wrote:

I just sat through about 2 hours of ethics training at work - main focus was conflict of interest.  Clearly, those is power play by a different set of rules.

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#7) On August 06, 2010 at 10:04 AM, outoffocus (22.75) wrote:

I just sat through about 2 hours of ethics training at work - main focus was conflict of interest.  Clearly, those is power play by a different set of rules

Actually most of them sit through the same ethics trainings that you do. It just goes to show you can't "train" someone to be ethical. Ethics is a choice.

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#8) On August 06, 2010 at 5:30 PM, hhasia (66.21) wrote:

Those in power make the rules. The loopholes too. Play is not part of the equation.

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