The Window Widens for Mike Bloomberg
Author: Greg Valliere
February 4, 2020
LAST NIGHT’S DEBACLE IN IOWA allows candidates to make up their own narratives — “I won,” Pete Buttigieg proclaimed last night, but who will ever know for sure?
REPORTS ON THE GROUND indicated great enthusiasm for Bernie Sanders, while crowds were embarrassingly slim for Joe Biden in many locations. Yet all of them can say they won; no one will concede they lost.
AFTER A YEAR of campaigning in Iowa, and millions of dollars spent, the results announced this afternoon will matter little. The outcome will always be suspect, and hopefully this bizarre caucus system will die.
SO NOW IT’S ON TO ANOTHER mostly white state that doesn’t look like the rest of America, but at least New Hampshire will have voting booths. We continue to believe Sanders leads in the Granite State’s Feb. 11 primary, and we continue to believe that Joe Biden is in trouble, hanging on until he gets to more diverse states later this month.
THE SMARTEST DEMOCRAT IN AMERICA is looking like Mike Bloomberg, who showed the good sense to avoid Iowa and New Hampshire. He’s inching higher in the national polls, now close to 10%, and soon may become the “stop Bernie” candidate.
THE ARGUMENT AGAINST SANDERS is simple — not only would he be the underdog to Trump, but Sanders at the top of the ticket could drag down dozens of Democrats running in congressional and gubernatorial races. Trump has ratcheted up his criticism of Sanders, calling him a “communist.”
NOT THAT A TRUMP-BLOOMBERG race would be pretty — the president alleged over the weekend that Bloomberg has demanded a box to stand on in upcoming debates; being short is a fatal flaw in Trump’s eyes. A Bloomberg aide responded that Trump was lying, just as he lies about “his fake hair, obesity and spray-on tan.” Not exactly the Lincoln-Douglas debates . . .
TRUMP ON A ROLL: He gets an hour of free TV tonight to brag about the economy; he’ll win acquittal on Wednesday; the Democrats looked amateurish last night in Iowa; and the markets are shrugging off the coronavirus.
ONLY TWO CANDIDATES CAN STOP TRUMP, in our opinion — Trump himself, always capable of turning off moderates with some new outrage; or Bloomberg, who’s willing to spend billions, hiring the best campaign staff money can buy, and saturating the airwaves with ads. Bloomberg was handed a gift last night; let’s see if he can exploit it.
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.
©2022 AGF Management Limited. All rights reserved.