As it turns out maybe Hillary’s proficiency with cattle futures wasn’t so unusual.
I remember reading this once, but I couldn’t find it in my weblog, so I’ll note it here.
During the boom years of the 1990s, senators’ stock picks beat the market by 12 percentage points a year on average, according to the study. Corporate insiders, meanwhile, beat the market by about six percentage points a year, while U.S. households underperformed the market by 1.4 percentage points a year on average. The final details of the study will be published in the December issue of the Journal of Financial and Quantitative Analysis. …
Looking at the timing of cumulative returns, the senators also appeared to know exactly when to buy or sell their holdings. Senators would buy stocks just before the shares suddenly would outperform the market by more than 25%. Conversely, senators would sell stocks that had been beating the market by about 25% for the past year just when the shares would fall back in line with the market’s performance.
Ellipses in Bainbridge’s quote from the WSJ article.
Perhaps we should have a SenatorScoop.com instead of a InsiderScoop.com.
[Via Instapundit]