Pelosi portfolio another example why Congress should make policy, not Investments

Pelosi downplays potential conflicts and opposes a ban on congressional stock trading because of 'free market’ reasons. Her portfolio outdid the S&P in 2020.

Shay Hawkins served as lead policy adviser to South Carolina Republican Sen. Tim Scott. A native Ohioan, Shay also served as a tax fellow to Ohio Republican Rep. Jim Renacci where he was part of a team of tax attorneys that led the development of a comprehensive tax reform plan.

On July 26, Pelosi’s husband sold over $4 million worth of shares in semiconductor company Nvidia (NASDAQ: NVDA). He acquired the shares using a derivative instrument that allowed him to purchase up to $5 million worth of NVDA if the price of the stock underlying the instrument hits a certain level. Meanwhile, on July 28, the U.S. House passed the CHIPS and Science Act to provide incentives for companies to manufacture semiconductors in the U.S. Although NVDA will not benefit directly from the incentives, the bill is designed and expected to grow the entire U.S. semiconductor industry. The derivative instrument he used to get access to the shares was exercised during the previous week as the bill was being deliberated, and when the trade came under public scrutiny the shares were sold at a loss before the bill passed.