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Markets still sceptical about Gore

October 13, 2007

There’s still value in the former Vice President

The reaction to the announcement of Gore’s Nobel victory has prompted the predictable call from the media for him not to enter the race. The logic goes that he can influence the race more by endorsing either Obama or Edwards than by challenging Hillary Clinton. Interestingly, the betting markets seem to have concurred with the price on Gore still only 11.7-12.5 on Intrade.com, compared with highs of 16 yesterday. I have to say that I think that this is a buying opportunity since he realises that an endorsement of either Barak Obama or John Edwards would be wasted and that the only way he can influence the contest is to run himself (although I think that if he really didn’t want to run he would do better to endorse Edwards rather than the Audacity of Hype).

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