Tuesday, December 18, 2007

Calamity? Clegg New Lib Dem Leader

Nick Clegg was announced as the new leader of the Liberal Democrats today, after beating rival Chris Huhne by 500 votes. I predicted a month ago the contest would be close but alas, I still lost money on the betting markets, mainly due to the fact that I initially backed Steve Webb at 16/1 after finding out on the blogosphere that he had got the requisite 17 nominations, but he later decided not to run. For what it is worth, I think Huhne was the better option.

I have two strategies when it comes to betting. The first is no matter what the odds, make sure you back the winner. The second is to have a punt on what you think is the value bet. The problem with the first strategy is that you do not always know who the winner will be, but you are guaranteed to win money if you pick it. The problem with the second strategy is that you will lose possibly as many bets as you will win, but in the long run you should make a profit.

In future, I will have to stop mixing these strategies.

3 comments:

Richard Havers said...

I just watched Clegg on C4 News. It was laughable.

Tropical Medic said...

You know, the role of Labour bloggers in our country is very much like the role of this:-

http://www.dkimages.com/discover/previews/887/45066290.JPG

The resemblance to the Labour-voting classes is stunning!

Louis said...

Richard, I still do not have a clue why people have been regarding Clegg as a future Lib Dem leader over the last couple of years. He seems to be a pretty average politician to me.

Tropical Medic - are you related to Dr Nick Riviera?