Botox-laden swamp-drainer made $100K in two days by savvy investing and blocking legislation, but mostly blocking legislation
Retail investors would love to learn former Speaker Nancy Pelosi’s investing secrets, which magically increased her net worth 62% during the worst of the financial crisis (spiking her portfolio’s value from $22 million to $35.2 million in a year’s time).
The former speaker and her husband have participated in at least eight IPOs, one of which was from Visa in 2008 – just as a troublesome piece of legislation that would have hurt credit card companies began making its way through the House. The Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64.
In 2007, Visa used an army of lobbyists to try to influence Pelosi, including one of her former advisers, Dean Aguillen… In addition to exploiting the revolving door between Congress and lobbying firms, Visa’s political action committee made a $1,000 donation to Pelosi’s re-election campaign… Two days after that donation was made, Pelosi met with Visa executives in her office. Aguillen also contributed $1,000 to Pelosi and another $1,000 to the campaign arm of the House Democratic caucusin the first half of 2008.
Dave Del Dotto could not be reached for comment at press time.
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Hat tip: Ace.