Investors Put Their Stock In Obama, McCain
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Investors have been putting millions of dollars into the stocks of Barack Obama and John McCain. They are basically placing bets on who will win Tuesday's election.The stocks are traded on intrade.com. That's a real financial market based in Dublin, Ireland, though most of the money flows from the U.S. Currently, Obama's stock is trading at nearly 90 cents — meaning investors think he has a 90 percent chance of winning. The stock of the winner will settle at a price of 100. So investors of McCain, whose stock is trading at about 11 cents, stand to make a lot of money if he wins.
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RENEE MONTAGNE, host:
And for our last word in business today, we turn to the business of predictions. Investors have been putting millions into whose stock is up or down, Barack Obama or John McCain. That is, placing bets on who will win tomorrow's election. The candidates' stocks are traded on Intrade.com. That's a real financial market based in Dublin, Ireland, though most of the money flows from the U.S. Intrade's CEO John Delaney says the stock prices in his market tend to be more accurate than many polls for this reason.
Mr. JOHN DELANEY (CEO, Intrade.com): What you might like to happen really doesn't play a big part. Who you think will generate a return on your investment is what's most important to you. So even if you're a Republican supporter but you really think Obama is going to win, then you're going to put your money where your mind is and not necessarily where your heart is.
MONTAGNE: Right now, Obama's stock is trading at nearly 90 cents, meaning investors think he has a 90 percent chance of winning. The stock of the winner will settle at a price of 100, which means those investing in McCain, whose stock is now trading at about 11 cents, stand to make a lot of money if he wins. And that's the business news on Morning Edition from NPR News. I'm Renee Montagne.
INSKEEP: And I'm Steve Inskeep.
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