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LARRY: HELLO, EVERYONE, WELCOME
TO "KUDLOW."
I’M LARRY KUDLOW.
SO I’M EXTREMELY WORRIED THIS
EVENING OVER A 1% DROP IN THE
TECH-HEAVY NASDAQ INDEX.
WHY THIS SUDDEN CONCERN?
BECAUSE IT MAY DO GREAT DAMAGE
TO NANCY PELOSI’S ALMOST PERFECT
INVESTMENT TRACK RECORD.
YOU MAY HAVE READ THAT ONE
WEBSITE HAS ALREADY NOMINATED
HER AS THE 2021 WALL STREET TRADER OF THE YEAR.
TRADER OF THE YEAR.
IN FACT READING JACOBIMAG
DOT-COM, I’M TOLD IS A LEFT-WING
OUTFIT, I DON’T CARE.
NONETHELESS THEY HAVE A FABULOUS
STORY ABOUT PELOSI AND HER
TRADING ACCUMEN.
GORDON GEKKO OF NEW YORK
STOCK EXCHANGE.
ACCORDING TO REPORTS SHE AND HER
HUSBAND PAUL PELOSI TRADED
$50 MILLION IN ASSETS OVER THE
PAST YEAR WITH ANNUALIZED
RETURNS OF 69% AS OF OCTOBER.
THAT IS ACCORDING TO A ESTIMATE
FROM THE NANCY PELOSI PORTFOLIO
TRACKER.
NOW THAT IS HIGHER THAN BUFFETT,
GEORGE SOROS, CATHIE WOOD AND
OTHER STAR INVESTORS.
APPARENTLY THE PELOSI PORTFOLIO
BEAT THE S&P 500 BY 4.9% IN 2019
AND A BIG 14.3% GAIN IN 2020.
THAT ACCORDING TO AN OUTFIT
CALLED FINE PRINT.
MISS PELOSI IS BECOMING A CULT
FIGURE AMONGST STOCK INVESTORS.
NOW ONE BRILLIANT MOVE WAS THE
PURCHASE OF HUNDREDS OF
THOUSANDS OF DOLLARS IN ROBLOX
WHEN THE PUBLIC GAMING COMPANY
WEPT OUT IN MARCH, ACCORDING TO
JACOBIN, MANY WERE SKEPTICAL OF
THE VALUE OF A KID’S VIDEO
PAYMENT BUT THE STOCK HAS
DOUBLED SINCE THEN.
IN JULY SHE INVESTED AT LEAST A
MILLION BUCKS IN COMPUTER
CHIPMAKER NVIDIA WHICH
SKYROCKETED 70% DURING THE
WORLDWIDE CHIP SHORTAGE.
A TIKTOK ACCOUNT CALLED AT QUICK
TRADE GOT0,000 LIKES FOR A POST
HIGHLIGHTING THE QUEEN OF
INVESTING.
-- 70,000.
LAST MONTH PELOSI DISCLOSED THEY
PURCHASED MILLIONS IN BULLISH
CALL OPTIONS FOR STOCKS
INCLUDING GOOGLE, SALES FORCE,
AND MICRON TECHNOLOGY.
PELOSIS HAVE REPORTEDLY REAPED
5.6 MILLION AND MAYBE UP TO
30.4 MILLION IN CAPITAL GAINS
AND DIVIDENDS FROM THEIR
HOLDINGS IN FIVE BIG TECH FIRMS,
FACEBOOK, GOOGLE, AMAZON, APPLE
AND MICROSOFT.
NOW FRANKLY I DON’T HAVE ANY
PROBLEM WITH MISS PELOSI GETTING
RICH.
I LIKE THE FACT SHE IS HEAVILY
INVESTED IN STOCKS AND LAST
YEAR’S WALL STREET TRADER OF THE
YEAR.
I ALWAYS BELIEVED A RISING TIDE
WOULD LIFT ALL BOATS.
I DO HAVE A SLIGHT PROBLEM WITH
MISS PELOSI’S TRADING COMPANIES
THAT HAVE SERIOUS REGULATORY
ISSUES PENDING BEFORE THE
CONGRESS.
SOME PEOPLE BELIEVE SHE HAS BEEN
SLOW-WALKING REGULATORY ISSUES
AROUND THE TECH GIANTS AND THERE
IS ALSO THE ISSUE OF ACCESS AND
INFLUENCE AND CONFIDENTIAL
BRIEFINGS AND NON-PUBLIC
INFORMATION.
I KNOW IN THE EXECUTIVE BRANCH
YOU ARE ALLOWED TO TRADE STOCKS
BUT ANYTHING ABOVE 1000 BUCKS
REQUIRES AN ETHICS SIGN-OFF WITH
RESPECT TO POTENTIAL CONFLICTS
OF INTEREST.
SUPPOSEDLY SIMILAR RULES PREVAIL
IN CONGRESS BUT I WONDER ABOUT
THAT.
MISS PELOSI HAS UPSET A NUMBER
OF HER LEFT-WING COLLEAGUES WHO
THINK STOCK TRADING SHOULD BE
BANNED ALL TOGETHER BUT SHE DOES
NOT AGREE AND LATE LAST MONTH IN
RESPONSE TO CRITICISM MISS
PELOSI SAID, AND I QUOTE, WE’RE
IN A FREE MARKET ECONOMY, END
QUOTE.
REALLY, MISS PELOSI?
JUST SAYING MA’AM.
EVERY POLICY YOU BACKED RUNS
COUNTER TO YOUR FREE MARKET
ECONOMY.
NOT ONLY INCLUDE YOUR ADVOCACY
OF GOVERNMENT TAKEOVERS FOR
ENERGY, HEALTH CARE, BANKING
ELSEWHERE BUT YOU ALWAYS
ENTHUSIASTICALLY SUPPORTED BIG
TAX HIKES ON A THOSE WHO QUOTE,
DON’T PAY THEIR FAIR SHARE.
ON THAT LAST POINT I WAS
ESPECIALLY INTERESTED IN THE
REPORT THAT YOU MAY HAVE REAPED
UP TO $30 MILLION IN CAPITAL
GAINS AND DIVIDENDS OVER THE
PAST MANY YEARS.
NOTHING WING WITH THAT
ESPECIALLY SINCE GEORGE W. BUSH
SLASHED THE TAX RATE ON CAP
GAINS AND DIVIDENDS TO 15% BACK
IN 2003.
BUT NOW, MISS PELOSI YOU WANT TO
JACK THE INVESTMENT RATES
SKY-HIGH AND TAX UNREALIZED
CAPITAL GAINS AS A WAY OF
GETTING TO A WEALTH TAX.
WHILE YOU’VE GOT YOURS YOU
EFFECTIVELY STOP OTHERS FROM
GETTING THEIR BENEFITS AFTER
TAX.
NOW I RECALL INTERVIEWING MISS
PELOSI ABOUT 15 YEARS AGO AND
SHE WAS ON THE VERGE OF BECOMING
HOUSE SPEAKER.
VERY PLEASANT INTERVIEW,
REQUESTED BY HER AND I ASKED HER
AT THE END IF SHE BELIEVED IN
THE STOCK MARKET AND WEALTH
CREATION?
AND SHE RESPONDED, OH, YES,
LARRY, HOW DO YOU THINK I GOT
THESE AS SHE LIFTED HER HAIR AND
SHOWED ME A SPECTACULAR SET OF
DIAMOND EARINGS.
TRUTHFULLY I KIND OF LOVED.
I THINK SHE WAS WAITING FOR THE
QUESTION, SHE DID HAVE A
TERRIFIC ANSWER AND I WAS
COMPLETELY BLINDED BY THE
DIAMOND DAZZLE IN FRONT OF ME.
DOWN THROUGH THE YEARS I
INTERVIEWED TWICE MORE, MOST
POLICE AND ENOUGH.
I NEVER HARBORED ANY PERSONAL
ANIMOSITY TOWARD HER, WHEN I
WORKED THE TRUMP WHITE HOUSE SHE
CREATED ME BEFORE A START OF
CABINET ROOM MEETING WITH A HUG.
OF COURSE I DISAGREE WITH HER
POLICY VIEWS.
THEN AGAIN IF MRS. PELOSI
DEFENDING THE FREE MARKET AND
STOCK MARKET TRADING MAYBE THE
GAP BETWEEN HER ECONOMIC
THINKING AND MIND IS ABOUT TO
NARROW.
I MIGHT NOT BET ON IT, BUT HOPE
SPRINGS ETERNAL.
THAT SAID I WOULD SUGGEST TO THE
SPEAKER THAT SHE PROMOTE TAX
INCENTIVES THAT WILL CREATE
GREAT OPPORTUNITIES FOR ALL
AMERICANS TO GET RICH AND
BENEFIT BY SUPERIOR STOCK
PICKING SKILLS.
YOU KNOW, IF YOU TAX SOMETHING
LESS, MISS PELOSI, LIKE STOCKS
OR WEALTH OR JOBS OR INCOMES YOU
WILL GET MUCH MORE OF IT.
THE NON-RICH CAN GET RICH.
BY THE WAY, I LOVE TO INTERVIEW
AGAIN OR EVEN HAVE ANOTHER