Betting on politics: Cynthia Nixon for New York

The Sex and The City star is hoping she can win the race to be New York's governor. But what are the odds, asks Matthew Partridge.

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Cynthia Nixon: a very long shot
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Until last week, November's gubernatorial election in New York state was considered a foregone conclusion. The incumbent, Andrew Cuomo (son of former governor Mario Cuomo), was supposed to be a shoo-in, and many expected him to run for the White House in 2020.

Enter Cynthia Nixon, an actress best known for her role in the 1990s TV series Sex and the City. She plans to challenge Cuomo in September's Democratic primary. Nixon has generated quite a buzz, and Ladbrokes is now pricing her at 3/1 (25%) to capture the governor's mansion in Albany. Cuomo's price is 1/3 (75%).

The victories of Jesse Ventura in Minnesota and Arnold Schwarzenegger in California prove that it is possible for a celebrity to mount a successful long-shot campaign for governor. But in both cases they were only successful because the incumbent had been severely weakened by a major scandal. Despite one of his former aides being convicted of corruption, Cuomo remains broadly popular in the Empire State, with his approval rating around 52%.

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Recent polls underscore Cuomo's advantage, with one suggesting that he leads Nixon by up to 35%. While Nixon has likened her campaign to that of Democratic outsider Bernie Sanders in the 2016 presidential primary, even that isn't going to help her very much, given that Hillary Clinton got 58% of the primary vote against him in New York state. Take Ladbrokes' odds on Cuomo. I'm putting £2 on him myself.

Dr Matthew Partridge
Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri

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