Lawmaker is very good options trader = 160k

Discussion in 'Wall St. News' started by abducens, Sep 23, 2008.

  1. In a single transaction on Dec. 10, Rep. Spencer Bachus of Alabama made up to $15,000 off an investment he had held for just two weeks, according to his congressional financial disclosure statement. He sold on the same day that the company, Focus Media Holding Ltd., got a market bounce off its announcement that it would acquire a competitor.

    The trade was among dozens made in 2007 by the powerful congressman, whose public statements alone can influence markets. Most of his trades were short-term options in which Bachus bet that a stock price would rise or fall and made a quick profit or loss accordingly. Sometimes, he made several trades in the same week, supplementing his $165,200 annual congressional salary with up to $160,000 for the year.
  2. Were those "real" trades or bogus bookkeeping entries like Hillary Clinton's cattle futures trading profits? :cool:
  3. Does he have a blog where he posts insider-trading tips?? :D
  4. Daal


    this guy went after online poker on moral grounds and insider trades for a living. you cant make this up