A senator could vote for an infrastructure bill, then buy stock in concrete. Or they could sit on the Armed Services Committee and trade in defense contractors stock.
Lawmakers could vote for infrastructure bill, then buy stock in a concrete firm.
The example was about someone who votes for an infrastructure bill and then buys a stock. Votes are public, so you could buy the stock at the same time they do.
The problem there is that automated traders have the same idea - and are a shit ton faster than you. So by the time you’ve so much as heard of it, the price is already up 25%
You could buy that stock too.
Not at the price they did.
If they vote for an infrastructure bill and then buy a stock, then you might even buy the stock before they do.
Problem is, we don’t get any forewarning about how they’re gonna vote.
The example was about someone who votes for an infrastructure bill and then buys a stock. Votes are public, so you could buy the stock at the same time they do.
The problem there is that automated traders have the same idea - and are a shit ton faster than you. So by the time you’ve so much as heard of it, the price is already up 25%