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Getting on for thirty years ago I rather stupidly had £500 on Douglas Hurd to be leader of the Conservatives at 8/1. Hills thought they were dealing with somebody who knew and cut his price to 4/1. How little they knew.
A day or two later a chum told me he had had £50,000 at 6/5 Major to be prime minister. And so he became.
A few days later Rosemary Lamont came by for tea and the subject of my incompetence was raised. She laughed and told me and my wife that everybody knew that it was going to be Major right from the start: her husband, Norman, had been in charge of the Major campaign. It makes a difference when you know.
Ever since I have been very circumspect about claiming to know about political betting unless I am inside. The trouble is that I never am.
In the same vein, it must be madness to bet that Rebecca Long-Bailey will be the next leader of the Labour Party. But it is not madness to speculate that even a party as full of nutters as the Labour Party could sober up on its selection procedure. In this event, RL-B has no chance whatsoever. Accordingly, bet like men against her success. Now 7/4 ON.
Yesterday, 600 Group (LON:SIXH) issued a profit warning. On balance, pay no attention and keep buying at 15p.