The The Wall Street Journal has diligently shown that gov't officials trade regularly and use material information.

My (Prof of Wall Street) research confirms that Congress members significantly outperform the S&P even while displaying sometimes high level of investment biases.

How does this happen?

Getting in early on an informed trade can yield significant returns even if the exit is partially botched.

#sec #insidertrading #efficientmarkets

Article: [https://www.wsj.com/articles/congress-pushes-to-police-stock-trading-by-federal-officials-b504da9c?mod=hp_lead_pos4](https://www.wsj.com/articles/congress-pushes-to-police-stock-trading-by-federal-officials-b504da9c?mod=hp_lead_pos4)

![Image upload](https://cdn.commonstock.com/bfec9d8f7f56391e2234c5f6be02ce526fce55654d87e4dc76523df2eb40cad7-1224x1106.png)

Seems a bit wonky that the folks who know/control some of the macro elements can also trade on those elements. 

AverageInvestor

As lawmakers press federal agencies over officials’ stock trading, the energy secretary became the first cabinet member to signal support for banning it outright. 

https://www.wsj.com/articles/congress-pushes-to-police-stock-trading-by-federal-officials-b504da9c?mod=hp_lead_pos4