With Democrats demanding the regulation of social media firms - lambasting Zuckerberg at every opportunity - and leftist politicians up in arms over tax handouts to Jeff Bezos' company in liberal cities, we have a simple question...
Why was Nancy Pelosi's family making leveraged long bets on tens of millions of dollars worth of shares in Amazon, Facebook, and Apple in the last month?
According to House of Representatives official filings, soon-to-be-majority leader of the House, Nancy Pelosi, reported numerous huge call option purchases in the last few weeks - all of which are underwater now.
In September, Pelosi bought 100 Call Options (1,000 shares) in Apple (Strike $145, Maturity 6/19/20)
In October: Pelosi bought 30 Call Options (3,000 shares) in Amazon (strike $1600, Maturity 1/17/20), 10,000 AT&T shares, and 30 Call Options (3,000 shares) in Facebook (strike $140, Maturity 1/17/20)
The positions are likely due to her husband of 50 years, Paul Pelosi - a wealthy businessman from San Francisco.
Paul Pelosi’s exact net worth is not known, but in 2014, Nancy reported between $43.4 million and $202 million in assets.
With Nancy battling the increasingly socialist progressives of her 'new' party to maintain her role as leader, one wonders what Ocasio-Cortez and Bernie Sanders will make of this ugly capitalism being unleashed at such an opportune time.
(...also we note that the investments have taken a more serious tumble in the weeks since Democrats won the House in the Midterms).