This July, not long before world stock markets headed south last month, La Jolla Democratic congressman Scott Peters did a lot of buying. According to a disclosure filing with the House ethics commission, from July 10 through 31, Peters loaded up on as much as $3.7 million or as little as $1.65 million worth of equities, based on the price-disclosure ranges provided for under federal law.
The congressman did more than a little selling as well, dumping between $500,000 and $1 million worth of military cyber security contractor Telos preferred stock, along with the same value range of Sequoia California bonds. Recent Telos contracts have included a share of $7.91 billion worth of work at the Air Force Life Cycle Management Center at Wright-Patterson Air Force Base in Ohio.
Peters also sold off between $30,000 and $100,000 in Bank of America stock, the filing says. His buy picks included between $100,000 and $200,000 worth of Amazon; the same dollar value for Apple; and between $16,000 and $65,000 in San Diego’s own faltering Qualcomm, which recently slashed its workforce.