In This Article:
The investment portfolios of several high-ranking US lawmakers, including Representative and former House Speaker Nancy Pelosi (D-Ca.), are outpacing the S&P 500 (^GSPC) in returns. Congressional leaders' stock trading has been a subject of controversy in recent years.
dub Founder and CEO Steven Wang sits down with Julie Hyman on Asking for a Trend to explain the concept of "copy trading" on his brokerage platform, which allows investors to buy into a portfolio formed around politicians and business leaders' own investments. The dub platform also has portfolios built around Federal Reserve Chair Jerome Powell, hedge fund manager Bill Ackman, and Berkshire Hathaway CEO Warren Buffett's portfolios too.
"The whole idea is we want to bring more trust and transparency to the system. So we've seen not just Nancy Pelosi, that's one of the recent trends of politicians, but also the meme stock craze. Two weeks ago and this past week... even star fund managers like Cathie Wood," Wang tells Yahoo Finance. "And this really goes to the theme that I think we're seeing in the markets broadly of Gen Z, Millennials, and the younger generation retail traders — it's no longer about sitting by a bunch of screens and looking at the numbers. It's about following people and ideas. And that is where the puck is going..."
Related Videos
For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.
This post was written by Luke Carberry Mogan.