Nancy Pelosi, one of Wall Street’s all time great investors, announced her retirement Thursday.
Pelosi, so known for her ability to outpace the S&P 500 that dozens of websites and apps spawned to track her seeming preternatural ability to make smart stock trades, said she will retire after the 2024-2026 season. Pelosi’s trades over the years, many done through her husband and investing partner Paul Pelosi, have been so good that an entire startup, called Autopilot, was started to allow investors to directly mirror Pelosi’s portfolio.
According to the site, more than 3 million people have invested more than $1 billion using the app. After 38 years, Pelosi will retire from the league—a somewhat normal career length as investors, especially on Pelosi’s team, have decided to stretch their careers later and later into their lives.
The numbers put up by Pelosi in her Hall of Fame career are undeniable. Over the last decade, Pelosi’s portfolio returned an incredible 816 percent, according to public disclosure records. The S&P 500, meanwhile, has returned roughly 229 percent. Awe-inspired fans and analysts theorized that her almost omniscient ability to make correct, seemingly high-risk stock decisions may have stemmed from decades spent analyzing and perhaps even predicting decisions that would be made by the federal government that could impact companies’ stock prices. For example, Paul Pelosi sold $500,000 worth of Visa stock in July, weeks before the U.S. government announced a civil lawsuit against the company, causing its stock price to decrease.
Besides Autopilot and numerous Pelosi stock trade trackers, there have also been several exchange traded funds (ETFs) set up that allow investors to directly copy their portfolio on Pelosi and her trades. Related funds, such as The Subversive Democratic Trading ETF (NANC, for Nancy), set up by the Unusual Whales investment news Twitter account, seek to allow investors to diversify their portfolios by tracking the trades of not just Pelosi but also some of her colleagues, including those on the other team, who have also proven to be highly gifted stock traders.
Fans of Pelosi spent much of Thursday admiring her career, and wondering what comes next: “Farewell to one of the greatest investors of all time,” the top post on Reddit’s Wall Street Bets community reads. The sentiment has more than 24,000 upvotes at the time of publication. Fans will spend years debating in bars whether Pelosi was the GOAT; some investors have noted that in recent years, some of her contemporaries, like Marjorie Taylor-Green, Ro Khanna, and Michael McCaul, have put up gaudier numbers. There are others who say the league needs reformation, with some of Pelosi’s colleagues saying they should stop playing at all, and many fans agreeing with that sentiment. Despite the controversy, many of her colleagues have committed to continue playing the game.
Pelosi said Thursday that this season would be her last, but like other legends who have gone out on top, it seems she is giving it her all until the end. Just weeks ago, she sold between $100,000 and $250,000 of Apple stock, according to a public box score.
“We can be proud of what we have accomplished,” Pelosi said in a video announcing her retirement. “But there’s always much more work to be done.”
