Congressional stock trading periodic trading reports were released on Tuesday and, to no one’s surprise, US Representative from Colorado Ed Perlmutter continues to rack up large stakes in technology.
Perlmutter is on the House of Representatives Committee on Science, Space and Technology, a panel that is very aware of legislative information that has not yet been public and that affects the technology sector.
Mother of pearl collected between $ 1,000 and $ 15,000 worth of stock in Google’s parent company Alphabet in early May, as the brazen June exchanges of House Speaker Nancy Pelosi’s husband drew both scrutiny and mockery.
Days before the House of Representatives first voted on legislation to break up big tech companies, House Speaker Nancy Pelosi’s husband Paul Pelosi exercised a call option and bought 4,000 shares of Alphabet, Google’s parent company, worth nearly $ 5 million.
Alphabet’s investment was unveiled this morning at a periodic transaction report That shows that Paul Pelosi also bought call options in other tech companies that could be affected by antitrust laws. Pelosi bought Amazon call options worth between $ 500,001 and $ 1 million, Apple call options between $ 100,001 and $ 250,000 and NVIDIA call options worth between $ 1 million and $ 5 million. The call options, which expired on June 17, gave Pelosi the ability to buy these shares at specified levels, but unlike alphabetical options, they do not appear to have been exercised.
NEWS: Nancy Pelosi is launching a $ 1B hedge fund with the goal of placing concentrated bets on large-cap tech stocks.
She cites her ‘proprietary investigative method’ of having insider information as a key differentiator from her competitors.
– Executive sum (@exec_sum) July 6, 2021
Beyond Alphabet, Perlmutter also appears to continue to invest in big tech companies like Microsoft, Amazon, Apple, and Nvidia.
Pelosi and Perlmutter’s bets on tech names come as Congress builds momentum to split up big tech and pass national semiconductor subsidies.
If passed, both reforms could lead to big paydays for tech shareholders like Pelosi and Perlmutter.
Antitrust legislation for big tech could be adopted as soon as this case, according to representative Ken Buck.
Separately, Perlmutter’s investment last September in Berkshire Hathaway also received renewed attention this week following President Biden’s announcement of a bipartisan infrastructure deal.
🚨 LAST MINUTE NEWS🚨
Biden’s infrastructure bill will pass.
I did a deep dive of:
– How elected officials have negotiated to benefit directly from the bill
– how lobbying has shaped the bill
– How politicians have changed the bill to their advantage.https://t.co/EQs5I5cB5g pic.twitter.com/EFQDXxSf34
– whales_inusuales (@whales_inusual) July 5, 2021
Perlmutter invested between $ 1,000 and $ 15,000 in Berkshire Hathaway class B shares last September. The global conglomerate founded by Warren Buffet has significant rail investments in the US.
Biden’s infrastructure deal agreed to this week contains $ 66 billion of rail funding, according to Unusual whales.
Importantly, numerous House members and senators have purchased shares that will directly benefit from this deal.
This is huge. With incoming infrastructure projects, the benefit of trading these infrastructure stocks cannot be oversold. Politicians are benefiting from these deals, with potential projects to be awarded in these numerous actions. They bought before; they are benefiting later.
According to the personal finance website Motley Fool, Berkshire Hathaway will benefit greatly from “epic” spending on Biden’s infrastructure bill.
Spending of such epic proportions will be spread in many different ways, but a great way to take advantage of all the increased spending could be Warren Buffett’s Berkshire Hathaway. Rail and transportation farms feature prominently in Berkshire Hathaway subsidiary business portfolio – including America’s largest railroad, BNSF, and privately owned Pilot service stations and large truck service stations. Manufacturing (like the auto parts company Precision Castparts) is also a big part of Berkshire. And there’s the company’s growing energy and utilities business, which includes sizable stakes in renewable energy projects.
If it wasn’t already apparent, Perlmutter shows no signs of slowing investment in tech companies that fall under the jurisdiction of its House committee, or companies that would benefit from high-priority agenda items for Democrats, such as infrastructure.
When will the rest of the Colorado media wake up and start investigating Perlmutter’s obvious conflicts of interest?