The Lacuna Project

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Exhibit 765

Do senators and house members beat the stock market? Evidence from the STOCK Act

Exhibit 765 ยท Peer-reviewed study

Do senators and house members beat the stock market? Evidence from the STOCK Act

We find no evidence of superior investment performance whether we look in aggregate or at Senators specifically accused of informed trading.

Trades of senators and House members, January 2012 to December 2020. Finds no superior performance in aggregate or among senators accused of informed trading.

Source
Belmont, Sacerdote, Sehgal and Van Hoek, Journal of Public Economics 207:104602
Date
March 2022
Quoted from
Abstract (RePEc copy)
Grade
Peer-reviewed
Document
https://doi.org/10.1016/j.jpubeco.2022.104602
Accessed
2026-11-09
Cited by
Findings citing this exhibit

Cited by

Finding POL-4.10
Peer-reviewed Eggers and Hainmueller (2013) found no information advantage in 1985-2001 or 2004-2008 and found that the average member's 2004-2008 portfolio would have earned more in an index fund, and Belmont and colleagues (2022) found no superior performance in 2012-2020, including among senators accused of informed trading.