Democrat, Representative for NY's 25th district. Value ranges as filed, never exact figures.
Activity
Top sectors
Trades in companies we cover, by the company’s sector. Green is purchases, red is sales.
Technology27% of trades4 trades: 0 purchases, 4 sales
Financials20% of trades3 trades: 0 purchases, 3 sales
Health Care13% of trades2 trades: 0 purchases, 2 sales
Consumer Discretionary13% of trades2 trades: 1 purchases, 1 sales
Communication Services7% of trades1 trades: 0 purchases, 1 sales
Energy7% of trades1 trades: 0 purchases, 1 sales
Would copying Joseph D. Morelle’s trades have beaten the S&P 500?
Too few trades to judge. Only 1 purchase has six months of prices after the report; we rank members once they have 20. The figures below are shown for completeness and can swing a long way on a handful of trades. Copying Joseph D. Morelle’s disclosed holdings (starting from the holdings in each annual disclosure report once it was published, then adding purchases and taking off sales as each trade report became public, sized by the amounts reported, with call options counted as the stock until they expired) would have turned $10,000 on May 16, 2019 into $50,120 by November 2, 2026, against $29,337 in the S&P 500: +24.2% a year against +15.6%, with a beta of 0.88. Selling each purchase after 6 months instead would have made +3.8% a year. Six months after each report, the average share purchase was +31.0% against the S&P 500 (median +31.0%), and 100% beat it. Measured from the trade date instead, the member’s own timing, the average was +2.0%. Reports arrived a median of 19 days after the trade.
Copying Joseph D. MorelleS&P 500, buy and hold$10,000 copying Joseph D. Morelle’s disclosed holdings from May 16, 2019, before costs and taxes, marked weekly. Each annual report resets the copy to the holdings it lists; each trade report then adds or reduces positions, sized by the middle of the amount band filed (a partial sale takes off its band but never more than half the position). Holdings before the first report in our records are unknown. Money not in a stock earns the Treasury bill rate.
Joseph D. Morelle: trades against the S&P 500 afterwards
Measured
Trades counted
Average vs S&P 500
Median
Went the right way
t-statistic
Evidence
Purchases, 3 months after the report
1
−7.8%
−7.8%
0%
—
Not enough data
Purchases, 6 months after the report
1
+31.0%
+31.0%
100%
—
Not enough data
Purchases, 3 months after the trade
1
−10.7%
−10.7%
0%
—
Not enough data
Purchases, 6 months after the trade
1
+2.0%
+2.0%
100%
—
Not enough data
Sales, 6 months after the report
14
+19.8%
+7.7%
36%
1.37
Not enough data
Return a year, copying
+24.2%
S&P 500, same dates
+15.6%
Yearly swing (S&P 500)
27% (19%)
Sharpe ratio (S&P 500)
0.84 (0.69)
Biggest drop (S&P 500)
−37% (−34%)
Market sensitivity (beta)
0.88
“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic treats each trade as a separate bet; the Evidence label is stricter and uses one average per month of reports, because trades bunch together. Trades in companies we cover only. The averages count share trades; the copy portfolio also counts call options as the stock and sizes positions by the middle of each band filed. No trading costs or taxes.
These are the stocks’ moves after each trade: they say nothing about why Joseph D. Morelle traded and do not suggest the use of non-public information.
How every member compares.
Stocks traded
Every company we cover that appears in the reports. “Since first purchase” is the stock’s move from the close on the member’s first disclosed purchase to the latest close, against the S&P 500; it is not the member’s return.
“Stock since trade” is the share price move from the close on the trade date to the latest close, with the gap to the S&P 500 beneath. It describes the stock, not what the member made. Click a column heading to sort.
Joseph D. Morelle has too few trades with a full 30 or 90 day window behind them to say anything (we need at least 20 on a side). The totals are not shown rather than shown on a handful of trades.
Excess return is the stock’s move minus the S&P 500’s over the same dates, measured from the close on the trade date, on closing prices adjusted for splits and dividends. Value ranges are wide, filings arrive up to 45 days late, trades by one member in one stock are not independent, and a stock’s move says nothing about what a member earned. A small average over a few trades is noise, not evidence. This is not investment advice. For sales, a positive figure means the stock went on to beat the market after the sale.
Filings
Report filed Dec 9, 2020 16 stock or option trades · ABBV, GOOGL, AMZN, AAPL, FISI, INTC, MET, MSFT, PSX, PG, PRU, URI
Holdings and net worth are not shown: members also file annual financial disclosure reports listing what they own, and those are not included here yet. We show only the trades they report.
Source: periodic transaction reports filed with the Clerk of the House of Representatives under the STOCK Act (Senate reports are not included yet). Members report trades by themselves, their spouses and dependent children. Amounts are the value ranges as filed, not exact figures, and a report can be filed up to 45 days after the trade, so the latest trades may not appear yet. Scanned paper reports are linked but not transcribed. By law (5 U.S.C. §13107) these reports may not be used for any commercial purpose other than by news and communications media for dissemination to the general public; we publish them free, as news.
