The Dean Endorsement, con’t
Wondering if Gore’s endorsement of Dean matters? Take a look at this graph to see the effect it has had on Dean shares in the Iowa Electronic Market. The price of Dean shares is represented by the green line.
Apparently, at least among the individuals trading shares on the IEM, this news has increased Dean’s chance of winning the nomination from about 60% to about 70%. Not a bad bounce from a single endorsement.
For those who aren’t familiar with it, by the way, the IEM is a forum at which individuals can buy and sell shares representing individual candidates, either for the nomination or for the general election. If you’re holding a share of Dean and he wins the nomination, you get $1. If you paid less than $1 for the share, you keep the profits. It’s a fantastic way to check the opinion of a bunch of people (those who trade on the IEM) who put their money where their mouth is.