Part 5 of Randomly Selecting Politicians to Investigate
Today's subject is (D) Tim Kaine
After looking into his financial records, we found that his last individual stock trade was in a well-known defense contractor $GE (General Electric)
He sold his entire position on 5/16/2019
The stock proceeded to crash ~39% the following year
So why do we care?
I. Kaine was an active member of the Senate Armed Services Committee when he made the trade
II. That committee regularly deals with the DoD
III. It's likely that he knows a thing or two about the industry
That alone inspired us to keep looking:
His 2025 annual financial report shows that he traded millions of dollars in ETFs and mutual funds
The single biggest trade was a ~$250,000 purchase of $PTTPX (PIMCO Total Return Fund) on 2/20/2025
It pays a 4.5% yield