ARE SENATORS HONEST?….Do senators perform unusually well when they trade in the stock market? Maybe so, according to a study I wrote about last week.
Mark Schmitt has his doubts. After reading the study in question, he suspects problems with a small sample size and wonders exactly what advantage senators are supposed to have anyway. And if they do have an advantage (advance knowledge of legislation, tips from friends, etc.) surely that advantage would be greater the more seniority you have. But the study found that new senators did better.
Beats me. But I thought it would be worthwhile to link to an opposing view since I linked to the original study.
