The loony bin extends well beyond the mile along Pennsylvania Avenue between the Capitol Building and the White House. Otherwise, how do you explain the recent disclosure statement of a certain US Representative from the state of California, who is apparently a full-time stock market speculator that moonlights as Speaker of the people’s house in Washington?
And we do mean stock market operator in the best tradition of Jesse Livermore. It seems that between December 17-20, Nancy Pelosi bought call options on five of the hottest stocks on the market including Google, Micron Technology, Walt Disney Company, Salesforce.com and Roblox Corporation. And we are not talking about purse change, either. The notional value was between $1.6 million and $3.25 million.