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Comment by TotoHorner | Hacker News Reader

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TotoHorner·

Shaming people for purchasing/selling S&P 500 mutual funds is really dumb. Expected better from the WSJ.

But yeah, trading individual stocks is highly suspect and should be illegal.

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If you have the knowledge that Congress does, the S&P 500 is the only instrument you need to do very well for yourself

Incorrect. Rarely, if ever, does any congress person have any insight or control into detrimental effects that would cause a market wide bear market or correction. If the do, it is even more unlikely the certainty of timing would be an advantage.

> Rarely, if ever, does any congress person have any insight or control into detrimental effects that would cause a market wide bear market or correction

Rarely like a once in a lifetime global pandemic?

Control like the ability to force shut downs of businesses across the country?

If you're going short or long the entire index on non public information, is that really innocent?

Shorting? Maybe not. But I would think we want congress to be long on the S&P, even if it also benefits them.

Baked into this assumption is the assumption that the markets reflect the well being of the citizens, which is not the case, unfortunately.

> which is not the case, unfortunately.

Generally when the markets are doing well are good times for more Americans.

Obviously not a 1-to-1 and not necessarily a cause-effect.

Long in the long term, yes. Entering and leaving positions for short periods of time based on insider information seems sketchy to me.

Eh, so they have a vested interest in the 500 biggest companies particularly?

It's really more like 5 or 10 companies though. S&P is very top heavy these days.

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