Our New Top Ten as the Democrats’ Field Expands
Author: Greg Valliere
February 11, 2019
AS WASHINGTON GRAPPLES WITH THE UNTHINKABLE — still another government shutdown, which would weaken the economy and threaten the airline industry — the Democrats are in all-out campaign mode for 2020, perhaps trying to deflect attention away from their racial debacle in Virginia.
WE PLAN TO UPDATE our handicapping every month, so here’s the February version of our Top Ten — with a look at the most important factor: who has a chance of beating Donald Trump . . .
10. Kirsten Gillibrand: In danger of slipping out of the Top Ten if Julian Castro or John Hickenlooper become serious players. Gillibrand is likable and relatively moderate, but there’s no sense of momentum or visibility in her campaign. Chances of beating Trump: Fair.
9. Corey Booker: Hard to handicap because it’s difficult to figure out where he stands. He’s articulate and affable, and there’s a chance that he could ride a wave, as Barack Obama did. Chances of beating Trump: Fair.
8. Elizabeth Warren: The activists still love her — and Wall Street still fears her — but there’s a pervasive sense that she’s too polarizing and scolding to win the nomination. If she can shake off the Native American fiasco, she still has a chance to run well in New Hampshire. Chances of beating Trump: Poor.
7. Bernie Sanders: Still a force, and we may have him rated too low. But he’s 77 his act is no longer unique, and let’s not forget — he’s not a Democrat. Within the party establishment, he has meager support. Chances of beating Trump: Poor.
6. Amy Klobuchar: She had a good rollout in the snow yesterday, and she refuses to embrace the far-left prescriptions that have electrified the party’s activists. A sleeper, could win Iowa. Chances of beating Trump: Good.
5. Michael Bloomberg: He’s sounding like a candidate, but he’s 76 and not popular with the party’s insurgent left. Bloomberg scoffs at the party’s redistributionist wing and doesn’t suffer fools easily. But let’s remember — he’s worth $50 billion. Chances of beating Trump: Very Good.
4. Sherrod Brown: A candidate to watch. The press likes him, both wings of the party would consider him acceptable, and he comes from Ohio, where elections are won and lost. He’s our dark horse, at the least a perfect running mate. Chances of beating Trump: Good.
3. Beto O’Rourke: The bloom may be off the rose, as Democrats question O’Rourke’s stunts and go-it alone style. He was like the mythical Icarus last fall, soaring toward the sun, but now he’s falling back to earth. Chances of beating Trump: Fair at best.
2. Kamala Harris: Clearly in the Top Three after less than a month as a candidate, Harris had the best rollout of any Democrat; even Trump gives her credit. Harris has the funding and the determination to methodically pile up delegates; the early California primary will give her a major boost. Harris went too far in Iowa — calling for the elimination of private health insurers — but she’ll tone it down, moving a bit toward the center. Chances of beating Trump: Good.
1. Joe Biden: He’s comfortably ahead in nationwide polls of Democrats, and he leads in Iowa. We think he will run (70 percent chance), even though he has few issues to sell other than antipathy toward Trump and Biden’s ability to connect with blue collar workers in rust belt states like Pennsylvania and Michigan. Yes, he’s gaffe-prone, but the gaffe bar has been lowered, hasn’t it? Chances of beating Trump: Good.
THE KEY FACTOR in next year’s primaries is simply piling up delegates in state after state. Bloomberg has the best chance of winning in a general election, while Biden will have the party establishment behind him (as did Hillary Clinton). But the party wants a fresh face, and right now that fresh face is Kamala Harris.
The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), Highstreet Asset Management Inc. (Highstreet), AGF Investments America Inc. (AGFA), AGF Asset Management (Asia) Limited (AGF AM Asia) and AGF International Advisors Company Limited (AGFIA). AGFA is a registered advisor in the U.S. AGFI and Highstreet are registered as portfolio managers across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. AGF AM Asia is registered as a portfolio manager in Singapore. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
© 2021 AGF Management Limited. All rights reserved.
