Members of the U.S. House outperform the average stock-market investor by 6.8%

According the journal Business and Politics,
members of the U.S. House outperform the average stock-market investor by 6.8%
per annum after compounding…better than hedge-fund superstars.  The authors
say, “We find strong evidence that Members of the House have some type of
non-public information which they use for personal gain.” And, drum roll
please, U.S. Senators get 10.7% per year more than we peons! The Senators’ edge
over the House members in investment return is “due presumably to less
influence and power held by the individual members” of the House. In the
House, Democrats did four times as well as the Republicans, generating excess
returns of 73 basis points per month versus 18 basis points.