I just want Hillary to trade cattle futures for me. Read that some professor calculated that the odds of having the success she had was 1 in 23 trillion.
Per wiki source which I dont have access to it was 31 trillion.
https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy
I remember reading something within the last year or so discussing the returns of people in congress & such. Its ridiculous how well they perform, these people can really generate alpha! Although I would imagine if I had inside information I would do quite well as well.
Those odds are not even within the realm of accuracy. With the leverage in futures markets, this is not at all unrealistic. In both the feeder cattle and live cattle markets at this time, prices were very bullish. Buying a single contract and then simply leveraging up during the bull market will get you to 100k in no time. This occurs all the time. The only surprising thing is when people get out at a good time.
Not defending Hilldawg at all, I definetely just skimmed the wikipedia. Just saying the stats are way off base.
She operated out of the constraints of a normal futures margin account. That’s the point. If she had opererated within the constraints those are her odds. She had over 100x return over six months during a declining market. Her winning trades were long.
She was allocated positions after the fact obviously. Simply a way to funnel her money.
Just read the wiki a little more. 80% of trades were profitable and 2/3 of them were profitable by the end of the day, as many of her fills were at the best price of the day. Also, as you said, she was trading against the market but still profitting, albeit she was actually shorting into a rising market.
I still don’t like the statistical probabilities though, seems misleading. Trading outside of margin requirements is not necessarily abnormal in the futures market, or even illegal these days. You can day trade as many contracts as your broker allows.
But I digress. F Hillary.
One article I saw actually broke out the trades and when money was actually made, but, yeah, doesn’t matter. So much smoke, not even plausible there wasn’t fire. And please let me know of this broker that doesn’t enforce their daily or overnight future’s margin requirements. I would love to short it. Here’s a nice video of Hillary through the ages. https://youtu.be/-dY77j6uBHI
In 2012 presidential elections, McCain couldn’t remember how many houses he owns, 6 or 7. He must have saved a lot form his 170K Salary. He’s doing well for a veteran.
11% of homeless in the US are veterans. A 100% of those don’t own a house (I know, a silly emphasis)
Back to Scalia, one more vacant post for a liberal. I have a feeling that Pres.Obama will elect a University Professor from Boston.
^ It helps when you marry someone with a lot of money, just ask John Kerry.
The REAL american dream. Marry rich.
actually this makes me more skeptic. Why they didn’t object to the insider trading practices in the Congress? If it wasn’t for CBS’ 60 minutes exposure of the Congress’ insider trading, nothing would have happened. All are partners in the action. The rich of them are more to be blamed.
An interesting thing about the American homeless is being homeless is a protected right. The government can’t force them to accept shelter. Ever wonder why some citizens live in government funded projects complete with cable tv and air conditioning yet some live on the streets. Even the mentally ill’s free will is protected as long as they are not deemed dangerous to themselves or others. Goofing country we live in, right? One day we’ll see the light. Silly human rights.
Why didn’t who object? Congress?
Are you saying that Congress should object to something that makes Congress rich? Surely you jest.
It is not illegal for congress to use their inside information. Go figure.
^ It is now, has been since 2013.
^ yup, they reacted fast after 60 Minutes’ exposure. Over the years, this was among the few 60 Minutes episodes that I didn’t forget. The world needs more of such journalism.
I remember it being talked about. Didn’t recall it got through. Does the law have any teeth? Have the servants’ returns gone down?
I’m not following the logic here. Your original post said something to the effect of McCain having done really well for a veteran on his congressional salary based on him having so many homes that he couldn’t even remember the exact number. I agree that he did do well, by marrying a woman worth tens of millions thanks to her father’s beer distribution business. What does that have to do with insider trading? John Kerry also did quite well for a veteran by marrying a woman worth hundreds of millions thanks to her prior husband’s fortune derived from his family’s ketchup empire. Again, where’s the connection to insider trading?
And even if it went on, I’m still not convinced it would have altered much. What I mean is, I doubt many congresspeople were changing their votes to make money in the market. The outcome of most major bills that could materially affect a stock price are already known, especially to those in congress.
The outrage always seemed to be that it’s unfair for them to make money based on their info, not that they’d change their vote to make money. I’d have a problem with the latter, the former…meh.
People just getting pissed off because a congressperson (who’s underpaid, btw) gets some stock tips before you? Sounds like some crybaby shit to me.
They are the most audacious people in the world. They just don’t care. Approval ratings at 16% (was 9% in 2014), they don’t care. They think they do an amazing job. They bash everyone else, and glorify their achievements (filibusters, and cleaner men’s room). US debt is nearing 20T, and no serious discussion is conducted to solve this issue. I hope they discuss this as much as they discuss planned parenthood. I don’t think they understand the National and Global impact of US economical actions. Wall Street and Silicon Valley should have 5 seats each in the Congress (taken from Florida?)