Something Strange Emerges When Looking At A Congresswoman's Daytrading Records

Tyler Durden's picture

While we have often heard that members of Congress, who are not only exempt from insider trading oversight, are also ardent daytraders we had never seen it in action.

Until now.

The following publicly filed monthly Periodic Transaction Report by Democrat Congresswoman, Judy Chu, shows us just how pervasive daytrading is not only for algos, but for those who supposedly are paid to serve their constituents. What is interesting is the size of the trades - between $1,000 and $15,000 each, this is not some novice, penny pincher; what is even more interesting are the underlying securities of choice: volatile, and levered, calls and puts on not only the S&P500, but also on some of the most volatile securities out there, such as the VIX.

Here are some examples of the trades in question (the latest full report can be found here):

 

There are more of these. Much more: some 9 pages worth just for June. The full breakdown is at the bottom of the post (link here).

* * *

While we would be the last to begrudge Ms. Chu her daytrading largesse, whether or not in possession of material, non-public inside info at time of trading - after all, if it is legal, by all means trade on inside information - something did catch our interest.

According to her public profile, the Democrat representing the 27th Congressional District, taught psychology for 20 years in an East LA Community College system, from 1981 to 2001, and reported a pension worth between $100,001 and $250,000 for those years of work. She also draws a smaller pension from serving on the Monterey Park City Council. She became a member of Congress in 2009.

In other words, a community college psychology teacher who daytrades S&P calls and puts in size up to $15,000?  Maybe she is merely "piggybacking" on her husband's net worth? Then again, maybe not. Her husband, former Assemblyman Mike Eng, is a senior partner at an immigration law firm in Los Angeles valued between $250,001 and $500,000.

* * *

And then we look at her net worth, which is where things get interesting, because this career psych professor, currently has an average net worth of $3.5 million, which according to InsideGov makes her the 103rd richest member of the House.  Chu's net worth was 3.2 times more than the average member of Congress and 4 times more than the average representative. When compared to the California Congressional Delegation, Chu had a net worth that was 3.6 times more than the average.

But most interesting is the history of Rep. Judy Chu's net worth over a short 6 year period, as shown in the chart below.

 

To summarize: a former East LA psychology professor (with an annual pension) started off her Congressional career with virtually nothing in the bank, and over the next 5 years, built up a net worth of over $3 million. We are curious how: it wasn't with the modest salary that members of the house collect; it wasn't from outside activities, it wasn't from her husband.

Which leaves just one possibility: her phenomenal daytrading skills, which are made even more phenomenal since her trades are exempt from regulatory oversight.

We are curious: why does Ms. Chu waste her amazing trading talent in D.C. when she could be working for Steve Cohen, or better yet, run her own hedge fund, making billions. Because if she can recreate her phenomenal 6 year return with outside capital, we would be the first in line to let her manage our money... assuming of course she can repeat her trading performance when the SEC at least pretend to care.

 

Judy's June trading disclosure is below

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Budd aka Sidewinder's picture

I want 69

You want Beef and Brocorri now?

bob_bichen's picture
bob_bichen (not verified) Budd aka Sidewinder Aug 2, 2016 4:39 PM

No No No.

Big Win on Carifonya Rottery.  Power Ball.

InjectTheVenom's picture

"Mother should I trust the government ?"

>>>  Yes

>>>   Fuck No !

InjectTheVenom's picture

"Mother should I build a wall ?"

>>>   Yes son !

>>>    No 

davinci7_gis's picture

Thanks to the Tylers, the truth of the how the power brokers become powerful through insider knowledge and trading is starting to be revealed.  There is a ruling class in this world and it is composed of the senators, congressmen, heads of state and heads of corporations and ALL of them trade secrets and knowledge to help each other out.  Whoever is willing to sell their soul can freely do so.

wee-weed up's picture

 

 

"Day trading calls & puts on stawks?...

Ha! Don't make me laugh...

Cattle futures is where it's really at!

And speaches to Wall St Bankers are even better!"  -- Hitlery

NidStyles's picture

Proving once again that dollars and all associated jewed currencies are really worthless. If you play along with the Tribe, you get to earn it for free, just like a game on your stupidphone.

fleur de lis's picture

The FBI had mountains of evidence on Hellary and could not touch her.

Pleasae don't let them waste more of our tax money investigating a Congresswoman with questionable finances.

We all know ahead of time she will get off the hook.

We know the outcome, please don't waste more money.

macholatte's picture

Corruption!

It’s what’s for breakfast!

!! NEVER HITLARY !!

beemasters's picture

"We are curious how: it wasn't with the modest salary that members of the house collect; it wasn't from outside activities, it wasn't from her husband."

Well, have you look into her ties with the Clintons? I heard Bill has had dealings with 2000+ women.

bamawatson's picture

is that more than wilt chamberlain?

The Saint's picture
The Saint (not verified) bamawatson Aug 2, 2016 7:32 PM

Just look into Harry Reids real estate deals in Nevada if you really want to see some insider trading.  He even writes and passes laws to make his holdings worth more.

Every member of the House and Senate should be in jail.

 

philipat's picture

One also has to wonder, with all this Day Trading, how she ever finds time to serve we the people she was elected to represent? Perhaps I'm wrong and this is all just a front for an account managed by Goldman in her name. If so, all is OK because Hillary was very clever with Cattle futures, I recall??

Boris Alatovkrap's picture

Wow, in Amerika, member of congress is make more of riches than is member of Russian Politburo! Forward Soviet!

Off topic question about Amerikansky politik, why is call HON. Judy Chu? What is "HON" to mean?

philipat's picture

I think it means that (some may think) she is a HONey?

(In older times, it used to refer to House members as "Honorable" because in those days they were. Nowadays....less so.)

FreezeThese's picture
FreezeThese (not verified) philipat Aug 3, 2016 5:33 AM

Aug 31 1750 puts though?

Conax's picture

As Roy L Fuchs once put it, "in the old days once you bought a politician the sonofabitch stayed bought."

So, yeah.

Librarian's picture

What is "HON" to mean?

In this case, "honcho"

But wasn't it Dostoyevsky that said that the law is like a stick -- it can go in whatever direction that one cares to point it.

fleur de lis's picture

"HON" is the abbreviation for Honorable.

Which Congress most certainly is not.

Katos's picture

This is why an entrenched polotical class is an anathema to the citizens it serves. These people are only interested in continuing their illegal theft.

Cornfedbloodstool's picture

I am still wondering what Reid did to piss off the mob (Mormans) to get that awesome beating.

junction's picture

The Chinese Triad investors were the ones who gave Harry Reid the beatdown after they realized that their investment in the Nevada solar power plant would not pay off fast.  Harry did not anticipate the attention the Bundy ranch standoff would get. But the senator has a fail safe option: a high speed train link between Las Vegas and Los Angeles crossing over land Reid's son owns.  The Bundys are in prison and their ranch, on the rail right of way, will eventually be sold to pay their legal bills.  Then Reid's investors, including the Triad, will score a big payoff.  Unless Trump gets in.   

fleur de lis's picture

Yes, that is a very good question.

Maybe he double crossed the LV mob.

Or maybe a .gov mob.

There are so many of them to choose from.

Or maybe he demanded a bigger cut from natcotics trade, biggerr bribes, more favors from his handlers, etc.

Whatever it was that beat down was some kind of warning.

NoDebt's picture

Congress exempting itself from everything they impose upon us.  Rule of law for us, cleptocratic utopia for them.  If we aren't doing a near-carbon copy of the downfall of Rome I'll eat my hat.  

I hope our betters remember that when the barbarians showed up at the gates of Rome it was the slaves who let them in.  They had nothing left to lose.

 

 

4freedom78's picture

Bill don't need money bcs he just rape them

Vorenus Pullo's picture

Corruption! 

It's what da bad man woman bring! 


OverTheHedge's picture

This is interesting, but  would be more interested to see the trades in relation to information that only people in the know could.have: in other words, prove the insider trading, rather than just assume.

Hey, it might just be that she is really THAT good. If she isn't, prove it. Also, can we look at her funding: is The Squid big in her donors list? Does she get "helpful tips"?

If she has any sense, she should be selling this information to friends and family: any sign of sudden surprise wealth happening to her niece, for example?

No one has mentioned guillotine for a while - perhaps it is time. Although, M. Guillotine invented his device as a humanitarian necessity, to reduce the suffering and pain involved in botched beheadings. Are we really that caring a society?

DontGive's picture

Here is Chu at DNC 2016 - whoring herself out as the 'First Chinese American evaaaar elected to Congress"

https://www.youtube.com/watch?v=JfnZc_8OF-I starts @ 3:00

hxc's picture

I love your tagline, haha. Thought about it when I saw some Never Trump fag finally go for Trump, lol.

Scuba Steve's picture

Man, when the bullets really start to fly to retake sovereignty ...

I'm with them.

Bunghole's picture

Give me a C, give me a U, give me a N, give me a T   

What's that spell?

Hillary!

and fuck that Chu bitch.

Shes got Cheesepope schmega on her breath

Zero Point's picture

Lets's spend that money on torches and pichforks.

fleur de lis's picture

The FBI had mountains of evidence on Hellary and could not touch her.

Pleasae don't let them waste more of our tax money investigating a Congresswoman with questionable finances.

We all know ahead of time she will get off the hook.

We know the outcome, please don't waste more money.

beemasters's picture

I agree... But nothing seems to stick with Hillary despite the huge evidence of corruption

"...average net worth of $3.5 million, which according to InsideGov makes her the 103rd richest member of the House"

Starting at 103rd seems arbitrary. Shouldn't we be reading the about top 10 richest first...at least??? Maybe she got "investment tips" from them over coffee breaks? It shouldn't be that difficult to track just by comparing their Transaction Reports.

InjectTheVenom's picture

attention Tribe :  you better enjoy the next 98 days bitchez 'cuz things are about to change !  Signed , THE MONSTER VOTE.

 

l8apex's picture

Nothing to see here.  Everybody just move along...

tyrone's picture

Exactly!!   MONSTER VOTE

I've been saying it for months now.. the numbers are steadily widening too.

 

Trump 66%  - Clinton 26% 

Richard Chesler's picture

I'm going to take a wild guess here,

She's a hard working liberal democrat working for the little people? yes?

johngaltfla's picture

Washington insiders get to violate the law and do what they wish in the markets with the blessings and help of Wall Street banksters. The rest of us? FU and your positions.

Chris Dakota's picture
Chris Dakota (not verified) NidStyles Aug 2, 2016 6:57 PM

They all say they are "fighting for" these little people.

what a bunch of frauds.

She is elected in an area that is filled with Chinese now, Chinese billionaires buying homes knocking down two of them and building mansions.

Damn those trade agreements really helped us.

TheReplacement's picture

Not fraud.  100% honest.

Their dictionary has a slightly different definition for little people is all. 

Little People; scum of the earth, pedophiles, government employees. 

Redundancy; See definition for 'Little People'

Clint Liquor's picture

There is only two sure-fire ways to become a multi-millionaire. Win the lottery and be elected to Congress. We need a two term limit. One in Congress and the other in Prison.

All Risk No Reward's picture

This is just the latest version of "good graft..."

Plunkitt of Tammany Hall

Audio
https://librivox.org/plunkitt-of-tammany-hall-a-series-of-very-plain-tal...

Book
https://archive.org/details/plunkittoftamman00rior

Spreader (get your mind out of the gutter - speed reader)
http://www.spreeder.com/

EVERYBODY is talkin’ these days about Tammany men growin’ rich on graft, but nobody thinks of drawin’ the distinction between honest graft and dishonest graft. There’s all the difference in the world between the two. Yes, many of our men have grown rich in politics. I have myself. I’ve made a big fortune out of the game, and I’m gettin’ richer every day, but I’ve not gone in for dishonest graft – blackmailin’ gamblers, saloonkeepers, disorderly people, etc. – and neither has any of the men who have made big fortunes in politics.

There’s an honest graft, and I’m an example of how it works. I might sum up the whole thing by sayin’: “I seen my opportunities and I took ‘em.”

Doubleguns's picture

Wondere if she paid any taxes on all those short term gains. 

BeanusCountus's picture

Interesting question, because if she did increase her net worth that much, that fast, she was probably giving around 40-45% of her gains to fed and state of CA. Which means those gains were around 80% higher than the increase in her net worth. Pretty good trading I must say.

greenskeeper carl's picture

I sit here and think hopefully she has it all in stawks or a bank account when the wheels come off and she loses it all or gets nailed in the rest of us, but that's a stupid thought - she'll know it's coming long in advance and withdraw it all in cash and buy gold or anything else tangible.

Fuck her. I hope she has a cabinet position in the killery regime all lined up. She is perfect for it. This kind of shit disgusts me. Jail them all.