Senators’ Abnormal Gains Vanish After STOCK Act

HFA Padded
Bala Murali Krishna
Published on
Updated on

Time was when U.S. senators enjoyed some “informational advantage” that helped them make some abnormal gains on the stock market – as much as 8.8% annualized. Such gains have vanished since an exposé by the legendary 60 Minutes television show, followed by the passage of the Stop Trading on Congressional Knowledge, or STOCK Act in 2012, according to a study published Jan. 24. “Post-60 Minutes, we find no evidence of continued outperformance in market-value weighted portfolios,” wrote Ian Cherry of the University of South Florida, and Amanda Rae Heitz and Candace Jens of Tulane University’s A.B. Freeman School of Business….

This content is exclusively for paying members of Hedge Fund Alpha

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!
This article is only available for Premium Members
Subscribe today and get :
Insider Strategies and Letters to Shareholders from the Top Hedge Funds
Exclusive Access to coverage of Private, Closed-Door Investor Conferences
Hedge Fund Manager Research Currently Producing 21% – 40% Returns Annually

Don’t have an account?

Subscribe now and get 7 days free!