David Rouzer: STILL Congress’s Wizard of Wall Street

He’s been a bureaucrat, a congressional staffer, a lobbyist, and a state senator.  But that background hasn’t stopped congressman David Rouzer (R-NC) from becoming one of Capitol Hill’s most successful investors on Wall Street.

In 2023, the 105.6 percent growth in the return on Rouzer’s investment portfolio made him the fourth most successful investor (D or R) on Capitol Hill and the third most successful Republican.   Rouzer’s investment handiwork, as well as that of others in both parties on the Hill, was compared to something called the SPY ETF:

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The value of SPY ETF’s portfolio grew by only 24.8 percent in 2023 – compared to 105.6 percent for Rouzer.

So, let’s check on Rouzer’s handiwork for 2024.  According to the same researchers, the value of Rouzer’s investment portfolio grew by 149 percent — making him the most successful investor for 2024 in both the House and Senate.  (Nancy Pelosi finished the year with a growth rate of only 70.9 percent.)

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In Rouzer’s defense, he wasn’t the only North Carolinian pol to catch the attention of these researchers.   Virginia Foxx (R) finished the year with 12.3 percent growth in the value of her portfolio.  The retiring Kathy Manning (D) — who amassed quite a bit of wealth with her husband prior to getting elected to Congress — finished with a growth rate of 56.3 percent.

It has been suggested for years that many in Congress were taking advantage of their access to inside information regarding the companies they regulate to score big on Wall Street. There have been several attempts to restrict playing the market while serving in Congress.  

There is no clear evidence that Rouzer is doing something illegal.  The results of his investing activity — for a guy without any substantial experience in the world of finance — certainly raise an eyebrow here and there.