The grouch stands again

Bernie Sanders has entered the race for US president. Matthew Partridge reports.


Sanders: the real deal
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There was little doubt that Bernie Sanders, who raised $230m in funding largely from grassroots sources the last time he ran for US president, "would post big fundraising numbers if he ran again", says Shane Goldmacher in The New York Times.

After announcing his candidacy last Tuesday, he then raised $5.9m over the next 24 hours, "nearly 20 times what senator Elizabeth Warren did in her first day and nearly four times more than senator Kamala Harris's $1.5m". Earlier this week the total had increased to $10m. The size of his advantage "has established him as a financial front-runner in a crowded Democratic field".

It's not just the total amount of money that's impressive, says Matt Stieb in New York magazine. "In a race where the source of the fundraising could be as important as the money itself," Sanders has been particularly successful in getting "small gifts from young donors".

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He has also "attracted a new swath of voters" 39% of donors used an email address that was not registered with the 2016 campaign. Sanders now has "a built-in sustaining donor base, that will reportedly net him more than $1m each month", a particular asset in a race "where at least ten candidates are vying for small donations".

A challenge from the left

Thanks to these "copycats mimicking his 2016 campaign promises", he's "just one more senator a 77-year-old one pushing for $15 an hour in a country where it's already law in several big states". Meanwhile, his emphasis on domestic issues means that he is "weak and vague" on other areas, most notably foreign policy.

It's true Sanders "has more competition on the left" with Harris, Warren and others "all ploughing the left-populist terrain",says Freddy Gray in The Spectator. But "politics rewards innovators more than imitators, and Bernie Sanders is the real deal". What's more, apart from some controversy about his wife and a land deal, "he is a man who sticks to his own principles" and is seen as having "more authenticity than the identity-based diversity of the new new left". Even his "grouchy" personality is seen as "endearing". It "will be fun watching his rivals try to stop him but it's hard to see how they can".

Could he beat Trump?

Dr Matthew Partridge

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