Former stockbroker Jordan Belfort discussed with Daily Caller co-founder Tucker Carlson the “inconceivable” stock trading outcomes of former House Speaker Nancy Pelosi and other members of congress Friday, stating politicians “shouldn’t be allowed to trade.”
Belfort appeared on “The Tucker Carlson Encounter” to discuss his previous experience in stock trading, highlighting the overlap between politicians and the stock market. The former stockbroker had called out “people in power” like Pelosi, stating she was a “perfect example” of someone who nearly operates with “impunity.”
Carlson then questioned how “any member of Congress” could be trading “without inside information,” baffled by how congress members could be beating “the S&P average.” (RELATED: Anthony Fauci, Wife Had Combined Net Worth Of More Than $11 Million When He Left Government: REPORT)
“It’s like we’re living in an alternative universe right now where people in power, especially on the Left — right — can operate almost with impunity, and Pelosi is a perfect example. She’s not the only one,” Belfort stated.
“But it’s inconceivable that someone could have that high return on the market when everyone else can’t do it. So what’s the edge? The edge is she knows key legislation — and also, you know, maybe someone’s whispering in her ear. Okay? Because, you know, they want to be on her good side, right? So, it’s hard to prove, though.”
“So if what you’re saying is true, and that is that the most sophisticated people in the world can’t beat the S&P average, then any member of Congress — and I think they are on average dumber than the population,” Carlson stated.
Ep. 58 How did a not very bright thug like Nancy Pelosi get rich in the stock market? Because the system is rigged. Jordan Belfort, The Wolf of Wall Street, explains. pic.twitter.com/rZbkKc5bzD
— Tucker Carlson (@TuckerCarlson) December 29, 2023
“Especially the career politicians,” Belfort interjected.
“For sure — there’s no possibility they could do that without inside information,” Carlson continued.
Belfort continued, stating while it may not be “possible” congress members could be beating the S&P average without alleged insider knowledge, it would take issuing subpoenas to actually prove the allegation. The former stockbroker additionally noted people like Pelosi “should not be allowed to trade.” (RELATED: Top Biden Regulator Proposes Overhaul Of Stock Market Rules)
“No, it’s not possible. But again — so how do you go proving that right? They have to issue subpoenas. And listen, I think that in this case they shouldn’t be allowed to trade, these people. They should not be allowed to trade. It’s insane that they’re allowed to,” Belfort stated.
“You know, if it looks like shit, smells like shit. Well, guess what? It’s shit — and that’s — well, it’s bullshit in this case. So listen. She’s done incredibly well, in an area where like the most professional investors struggle to even match the index. So somehow she’s doing three times as well? I don’t know,” Belfort said.
Pelosi’s fortune has reportedly risen by $140 million since the 2008 financial market crash with the help of her husband’s stock trading, according to the Washington Free Beacon. The former House Speaker is not only one of the richest members of Congress, but her net worth in 2021 was estimated to be $171.4 million, the outlet reported.
While Pelosi has denied sharing any inside information, her husband has received backlash for his stock trading that seemed to coincide with technology sector legislation, according to Bloomberg.
The former stock broker is known for his memoir “The Wold of Wall Street,” which was also made into a movie in 2013, detailing his time a a Wall Street trader.
Belfort co-founded the Stratton Oakmont financial firm. However, he was later found guilty of crimes related to stock market manipulation in 1999, Investopedia reported. While Belfort originally pleaded guilty to four years in prison, he only ended up serving 22 months before he started running his own sales training sessions and investment courses, according to Investopedia.