Michigan Congressman Discloses Late Trades, Missed Gains

Congressman Shri Thanedar of Michigan recently disclosed two late trades in his Periodic Transaction Report. The first sale occurred on January 9, when he reported selling Apple (AAPL) common stock worth between $100,001 and $250,000. However, the public didn't learn about this trade until August 13, 171 days after the disclosure deadline.

The standard for filing these reports is clear: members of Congress must submit a report within 30 days of receiving notification of a covered transaction or no later than 45 days after the transaction occurred. In Thanedar's case, the outside deadline was February 23. The delay didn't conceal a winning bet; it hid one that appears to have left money on the table.

According to the report, Apple closed at $259.37 on January 9 and rose sharply afterward, closing at $305.26 by August 13, a gain of almost 18%. This means the disclosed trade looks poorly timed in hindsight, not advantageously so.