Although I share my investments and my net worth, I am far from being a politician in the spotlight. On the other hand, Nancy Pelosi, the new Speaker of the House of Representatives, is required to disclose her investments. I found her disclosure via Seeking Alpha and pfblogs.org.
Pelosi and her husband have a number of real estate investments and significant ownership of several companies. For the ultimate in celebrity financial voyeurism, read Nancy Pelosi’s full disclosure [pdf].
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Did I miss something? Not one single mutual fund? Is she only required to list individual securities and not funds?
Surprised to see some of her stock holdings though. Overstock, Shutterfly,
Not having any mutual funds doesn’t surprise me. As a financial advisor, when I dealt with many of the wealthy people over 40, most had millions all in individual stock holdings, not funds.
Many had inherited stock from their parents, and most simply purchased small amounts of stock at a time over the course of many years.
I have a family member like this, he has millions invested in individual stocks. He knows about funds, could easily purchase even load funds at NAV requiring no load, but he doesn’t. He simply has a dedicated broker/advisor and he’s always purchasing individual companies.
Different strokes for different folks I guess. But if you have the money to do so, and don’t mind the potential gamble and tax implications in more frequent trading, then with some good research the rewards can be far better than any fund (with the possibility to be far worse as well).
I have been reading about Pelosi for some time, this woman is impressive.
She has the courage to stick to her convictions no matter what (she is usually right).
I equally subscribe to not investing in funds (unless possibly index funds), i am planning dollar cost averaging with blue-chip stocks.