Edward Snowden highlighted Warren Buffett’s impressive investment record in a post on X, formerly Twitter, and contrasted it with the stock-picking prowess of members of Congress.
What Happened: On Thursday, Snowden took to Twitter to highlight the investment prowess of Warren Buffett, the billionaire CEO of Berkshire Hathaway Inc. BRK BRK. He noted that “Berkshire shares have seen an average annual return of 20.0%…”
He contrasted Buffett’s returns against Rep. Dan Meuser (R-Pa.), former House Speaker Nancy Pelosi (D-Calif), Rep. Donald Beyer (D-Va.), and Rep. Josh Gottheimer (D-N.J.). While Meuser’s shares have returned an yearly average of 40.3%, according to data shared by Snowden. Pelosi, Beyer and Gottheimer’s investments have garnered 21.8%, 20.3%, and 25.9% respectively.
It should be noted that Invesco QQQ Trust Series 1 QQQ which tracks the Nasdaq 100 index has returned 50.74%% returns over one year. Since the year began it has returned 7.36%. The 1-year returns are significantly higher than members of congress singled out by Snowden.
In a follow-up tweet, Snowden sarcastically commented on the trading performance of some members of Congress, stating, “just some members of congress outperforming the greatest investor in history. we are surely fortunate to be represented by such extraordinary talents.”
Why It Matters: Snowden’s tweets come amidst ongoing discussions about the stock trading activities of congressional members. An exchange-traded fund (ETF) that tracks the stock trades of Democratic members of Congress has been outperforming the S&P 500 since its launch in 2023.
Nancy Pelosi, and her husband, venture capitalist Paul Pelosi, have recently drawn attention for their successful trading in cybersecurity company Palo Alto Networks Inc.
Tesla CEO Elon Musk also reacted to the conversation about politicians and their investments, responding to a discussion between Tucker Carlson and Tulsi Gabbard about Nancy Pelosi’s stock picks.
Carlson had asked Gabbard, “I have no clue at all how Nancy Pelosi is just so rich or how her stock picks are, like, way better than Warren Buffett's. How does that happen?”
Photo via Wikimedia
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