The Soapbox

Shenhoo

Joined: 01/04/2001 Posts: 35224
Likes: 51394


The lady is a very competent trader.


Senator Kelly Loeffler sold a total of $46,027 worth of stock in an online travel company in the day leading up to President Donald Trump’s announcement of a ban on most European travel to the U.S.

Though the transactions were relatively small for Loeffler and her husband -- whose net worth is estimated at more than $500 million -- the sales represented an about-face.

Loeffler, a Georgia Republican, had just days earlier purchased the shares, in Booking Holdings, jointly with her husband, Jeffrey Sprecher, the chief executive officer of Intercontinental Exchange, parent firm of the New York Stock Exchange

Booking Holdings provides online bookings for flights, hotels and other travel-related services, all of which have collapsed because of the Covid-19 pandemic.

The stock was purchased on March 6, the day that Loeffler traveled with Trump, visiting the Centers for Disease Control and Prevention headquarters in Atlanta for an update on the coronavirus response, and continuing on a later flight to Florida.

It was sold on March 10 and 11. After the markets closed on March 11, the president announced his European travel restrictions.

The details, provided by the senator’s office, go beyond the financial transaction reports she recently filed that merely require ranges for various holdings.

Last month, news reports about her sales and purchases of other stocks -- after government briefings to Congress on the virus -- caused a stir, with critics questioning whether she was sufficiently focused on her constituents. Some stock sales by another senator, Richard Burr, a North Carolina Republican, have prompted a government inquiry.

Loeffler said that outside finance professionals manage her portfolio and do so at arm’s length. Her campaign has declined to identify those advisers.

“These transactions are consistent with historical portfolio activity and include a balanced mix of buys and sells,” according to a spokesman, Stephen Lawson. “Her stock portfolio is managed independently by third-party advisors, and she is notified” after transactions occur, he said.

She was appointed in December by Georgia’s governor, Brian Kemp, to fill out the term of Senator Johnny Isakson, who retired, and is running for the seat this fall.

Her messages on Facebook try to maintain a focus on her efforts to combat the coronavirus and keep Georgia strong. “So, all of these stories that you are seeing attacking me are nothing but fake news. These are politically motivated attacks that prey on the fears of Americans during a global pandemic,” she said in a video posted on Wednesday.

The disclosures present a fuller portrait of the couple’s trading activities this year. The activity shows their advisers taking a number of defensive steps as the markets began to slide.


Posted: 04/03/2020 at 10:12AM



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Current Thread:
 
  
The lady is a very competent trader. -- Shenhoo 04/03/2020 10:12AM
  I'm assuming her assets are held in a blind trust -- Capital City Hoo 04/03/2020 12:46PM
  They are not in a blind trust -- Stimp 04/03/2020 1:47PM
  Or her 3rd party is really good -- psychobilly 04/03/2020 10:34AM
  She is such an idiot -- WahooMatt05 04/03/2020 10:17AM
  Or you guys are getting fishooked... -- Moneyshot 04/03/2020 10:37AM
  New york Congressman Chris Collins says hello ** -- Plano Hoo 04/03/2020 12:45PM
  LOL...completely different situation -- Moneyshot 04/03/2020 12:48PM
  As I recall, Collins was a legal “insider” -- Moneyshot 04/03/2020 12:53PM
  Ha...I was bored and being snarky -- Moneyshot 04/03/2020 2:05PM
  And why did they sell just days after buying? ** -- 111Balz 04/03/2020 12:22PM
  How do they do in pandemics? ** -- 111Balz 04/03/2020 2:45PM
  Nm** -- Moneyshot 04/03/2020 3:17PM
  The point is a very simple one... -- Moneyshot 04/03/2020 10:53AM
  Your unquestioning trust in Republican -- Shenhoo 04/03/2020 10:42AM
  She claims someone else was trading for her. -- WahooMatt05 04/03/2020 10:41AM

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