LOOK WHERE OTHERS DON’T…

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Transcript

00:00 Sure, you can look at what stocks US lawmakers buy, but looking at what they sell is smart

00:04 too.

00:05 One of the best examples of a perfectly timed stock sale is a trade made by Congressman

00:08 Chris Collins.

00:09 In 2018, Congressman Collins was attending the presidential picnic when he got an email

00:12 from the CEO of Innate Hematherapeutics, a company he was on the board of.

00:15 The email explains to the board of directors about a trial regarding a new drug that they

00:19 had spent millions of dollars and years of developing had been a failure.

00:22 Almost immediately after receiving this email, Congressman Collins would have a 6 minute

00:25 phone call with his son, Cameron.

00:27 While Collins was a board member and was prohibited from selling his personal stock, his son Cameron,

00:30 who also was a major shareholder, wasn't restricted to this.

00:33 Within the next couple days, his son Cameron would sell almost 1.4 million shares of Innate

00:37 stock.

00:38 This selling, which was done based on insider knowledge, saved Cameron $550,000 in losses,

00:42 as when the news became public about the drug failure, it dropped by 90%.

00:46 Collins resigned and was charged with insider trading and was sentenced to 26 months in

00:49 prison.

00:50 So to see what else lawmakers are buying or selling, check out Quiver Strategies and click

00:53 on the tab that says US House Long Short which is up 60% the last year.

00:57 And thanks for watching.

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