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Romney, Obama, Rasmussen

Ah, you are right. My mistake.

True. Rasmussen's lack of accuracy in 2008 is all that's needed for for that point.

The final Rasmussen poll in '08 was within the margin of error, that's a 'hit' not a miss. Their 'miss' was in the overall '10 congressional race which my guess would be was a result of underestimating the Dem turnout. By and large the states that have become reliably Dem generally have a higher turnout tradition, e.g. California turns out to vote moreso than Texas, the middling (population) states like Maine, Washington, Oregon, MA, MN, have stronger voting habits than the ones more generally Republican like the deep south, Nebraska etc. So even in a low-enthusiasm year for the Dems they're gonna get a certain minimum from those Dems who always vote as it's cultural, and when they suggest they might not vote it means less and thus actually should be considered 'likely' voters even if they suggest they're not. They're just pissed off at whatever and despite what they tell the pollster are more likely to actually vote because it's (moreso) ingrained in them.

So despite the GOP base being all worked up and with momentum as shown in his latter polling, that advantage was mitigated by fact the Dems will get a turnout minimum from the one who consider the exercise of their franchise as their duty in a participatory democracy. Dems have a higher percentage of both higher turnout voters and lower turnout voters on each end of the scale, kinda like a 'U' shaped curve with the mass majority in the middle. At least that's the way it used to be, and a cursory glance appears to indicate that hasn't changed. That's the sort of thing that's very hard to catch when trying to differentiate between 'likely' and the 'less likely' to vote category which in a mid-term election year like 2010 (where turnout is always down ~10% of the eligible population) might skew someone looking specifically for 'likely' voters as Rasmussen does.

In this election cycle I'm starting to suspect that there might be a systematic error cell-phone only biasing many polls in favor of Dems as a result of the last election and the changing habits of the population. That election was historic in that so many these days use only cell-phones and in '08 that population was heavily Dem; many people outside the most partisan would be displeased were they to receive constant polling attempts on their cellphones. Having endured the past two years in Wisconsin, where it was determined that one vote for governor wasn't enough and we had to do a replay, (with primaries and everything!) as well as recall elections in our state legislature and thus am a 'survivor' of being constantly assaulted with phone messages, I've noted a couple of times when unwarily just answering the phone and getting scalped polled that some are interested in getting 'regular' respondents and ask those if they like to be polled regularly, notably when I hit the wrong damn button and indicated I usually only use a cell phone.

If those cell-phone only populations are polluted with partisans that might well bias many polls in favor of Dems, which can be seen in many of these polls I looked for the particulars on, which show both more Dems than ought to be responding, and that's even borne out moreso by the cell-phone demographic. I've also noticed the larger samples such as the recent Gallup and other polls tend to be more in favor of Romney than the other smaller sample polls which might indicate a cellphone partisan bias being mitigated.

What I'm getting at is the number of people interested in being polled regularly through their cell-phone is more likely to be dominated by partisans, and that population in '08 was heavily for Obama. While I'm sure they make every effort to expand their potential sample base, with cellphone-only voters that's not as easy to do as with others who can be more conveniently called randomly, therefore it might just be that many of the polls that appear to be more favorable to Obama are due to a part of the sample being Obama partisans being polled over and over again, as they have been since '08.


How many times have you guys been polled this cycle? Granted circumstances were and are different here in Wisconsin, but despite trying to actively avoid those calls most of the time, I must have responded to a half-dozen since shortly before the conventions. That's probably only a small percent of the attempts as I'm catching on to how to differentiate them on caller ID and recognize now just what ones were probably pollsters and which ones are/were robo-calls. What I'm wondering is that if there's a population that skewed heavily Democratic in '08, and is more difficult to expand, that too much of the cell-phone only population is carried over from the '08 election and polling the same partisans over and over isn't actually sampling a random population as good as it might. Thus the larger sample polls and Rassmussen who uses a different methodology to account for the cell-phone bias are more likely to be accurate this election than many of the other ones.

Just a thought, I could be wrong of course. :)
 
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Very interesting. It seems to me that some people could be trying to "rig" Intrade, as the above article suggests. I wonder how long this will go on? If enough investors with deep pockets want to, would they be able to flip Intrade to be giving contrary results with other markets and predictors?
I had a friend in the futures market (nearly lost his families chain of restaurants shorting something as he was going to use them as collateral to make a margin call but he finally thought better of it and took the loss. a couple hundred thousand if I remember right). His philosophy was to look for sudden swings that looked like manipulation and bet in the opposite direction. In his opinion by the time you see volatile activity it's too late to go with the trend. Sounds reasonable but what the hell do I know.
 
I still can't understand why Romney would be 45% on intrade right now. He was 35% less then a week ago and has done nothing to bring it up.... he's lost 2 debates.

Yeah I get there may be some manipulation going on.... But wouldn't there be money to correct that? If Romney's campaign or supporters were really trying to "rig the markets"..... Aren't they really just giving money away? If so... why aren't people lined up to take that money?
 
I still can't understand why Romney would be 45% on intrade right now. He was 35% less then a week ago and has done nothing to bring it up.... he's lost 2 debates.

Yeah I get there may be some manipulation going on.... But wouldn't there be money to correct that? If Romney's campaign or supporters were really trying to "rig the markets"..... Aren't they really just giving money away? If so... why aren't people lined up to take that money?
You don't understand how manipulation works. It starts out by getting a trend started. Often the trend takes awhile for people to realize it's just a bubble based on manipulation and to peter out and before it does the person who started the trend dumps the stock causing it to plummet. It happens regularly with oil futures. Folks like the Koch brothers make billions playing that game. Trust me on this, the average person loses his or her shirt regularly on futures. Only those with the connections and massive wealth and who can manipulate the market make money on such shenanigans.
 
I still can't understand why Romney would be 45% on intrade right now. He was 35% less then a week ago and has done nothing to bring it up.... he's lost 2 debates.

Yeah I get there may be some manipulation going on.... But wouldn't there be money to correct that? If Romney's campaign or supporters were really trying to "rig the markets"..... Aren't they really just giving money away? If so... why aren't people lined up to take that money?

The polls have been fairly steady for the last two weeks, showing Romney with a real chance to win the election. It's actually that simple. Right now the RCP average shows Romney up by almost one percentage point, and that's partly because they don't weight the polls at all. If they weighted polls by the number of likely voters, Romney would be leading by 2 percentage points. And the trend is definitely in Romney's favor.
 
The polls have been fairly steady for the last two weeks, showing Romney with a real chance to win the election. It's actually that simple. Right now the RCP average shows Romney up by almost one percentage point, and that's partly because they don't weight the polls at all. If they weighted polls by the number of likely voters, Romney would be leading by 2 percentage points. And the trend is definitely in Romney's favor.
First off the point was about Intrade not RCP. No where near a lead for Romney. You could be right (I seriously doubt it) and Romney could win but you are talking apples and oranges. Intrade has nothing to do with weighting likely voters. It's about people who are willing to put up their money and across the board they aren't willing to put their money up for Romney more than they are willing to put up their money for Obama. But you are right that so far the trend has favored Romney for the last two weeks. Not sure why you think that cannot reverse especially since Romney has done so abysmal for so long. Romney's numbers have been worse than most candidates even Carter running for a second term.

Do you ever consider your bias when you go off on these flights of fancy? Remember the cluster **** with Palin who you assured everyone was a viable candidate when she was an utter disaster?
 
PredictWise
Barack Obama 59%
Romney 41%

Betfair
Barack Obama 63.5%
Romney 36.4%

Intrade
Barack Obama 54.5%
Romney 44.5%

IEM
Barack Obama 58%
Romney 42%
 
First off the point was about Intrade not RCP. No where near a lead for Romney. You could be right (I seriously doubt it) and Romney could win but you are talking apples and oranges. Intrade has nothing to do with weighting likely voters. It's about people who are willing to put up their money and across the board they aren't willing to put their money up for Romney more than they are willing to put up their money for Obama.

The question was asked why Romney was doing so well at InTrade; it seems pretty obvious to me that the answer was because he was doing well in the polling. I brought up RCP because it is a site that aggregates polling numbers.

But you are right that so far the trend has favored Romney for the last two weeks. Not sure why you think that cannot reverse especially since Romney has done so abysmal for so long. Romney's numbers have been worse than most candidates even Carter running for a second term.

What do you mean when you say that Romney's numbers have been worse than most candidates? Worse two weeks before the election? Romney's always been reasonably in the race, and since the first debate, he's clearly been at or near the lead.

Do you ever consider your bias when you go off on these flights of fancy? Remember the cluster **** with Palin who you assured everyone was a viable candidate when she was an utter disaster?

I have been around for awhile, and remember how many Republican VPs the media assured us were utter disasters. Dan Quayle, George Bush Sr, Gerry Ford, Spiro Agnew... yet somehow dolts like Joe (plagiarism) Biden and Al (flunked out of Divinity School) Gore are geniuses of staggering intellect.

Look at your own bias here before you start pointing out the mote in my eye.
 
I have been around for awhile, and remember how many Republican VPs the media assured us were utter disasters. Dan Quayle, George Bush Sr, Gerry Ford, Spiro Agnew...

History confirmed those assurances mighty well with respect to at least two out of four, arguably three out of four. Notwithstanding, Sarah Palin isn't fit to shine any one of those gentlemen's shoes...and I don't actually see you trying to make a case that she is.

yet somehow dolts like Joe (plagiarism) Biden and Al (flunked out of Divinity School) Gore are geniuses of staggering intellect.

All things are relative...but your observation has not so much relation to Albert Einstein as it does Ray Bolger....

Look at your own bias here before you start pointing out the mote in my eye.

Pot, kettle, etc
 
The question was asked why Romney was doing so well at InTrade; it seems pretty obvious to me that the answer was because he was doing well in the polling.
A.) It's not at all obvious. B.) Intrade can be manipulated and is much more volatile.

What do you mean when you say that Romney's numbers have been worse than most candidates? Worse two weeks before the election? Romney's always been reasonably in the race, and since the first debate, he's clearly been at or near the lead.
Romney is the first candidate in recent memory where he faces an incumbent overseeing an economy that is in serious trouble and he has been consistently, almost universally behind. That's pretty abysmal.

I have been around for awhile, and remember how many Republican VPs the media assured us were utter disasters. Dan Quayle, George Bush Sr, Gerry Ford, Spiro Agnew... yet somehow dolts like Joe (plagiarism) Biden and Al (flunked out of Divinity School) Gore are geniuses of staggering intellect.
I've no idea how this justifies your silly assertions about Palin.

Look at your own bias here before you start pointing out the mote in my eye.
I don't make up just so stories to justify an over-confident belief about Obama's chances of winning. I know that the race is a complex dynamic that cannot be modeled completely and I accept that there will always be some degree of uncertainty. I actually understand and accept that much of my views are driven by ego. There simply is no comparison between us. Even when Obama was at his height I never made claims that approach your hubris driven claims. I have honestly been surprised at how badly Romney has pulled but never but never did I use that fact to weave narratives about why Romney would lose. I've said for months, and you know this is true, that the race would be close.
 
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A.) It's not at all obvious. B.) Intrade can be manipulated and is much more volatile.

Well, the question was asked. I could either go with the conspiracy theory that somebody is manipulating the market, or point out that there are actually (gasp) reputable polls that indicate Romney might actually win.

Romney is the first candidate in recent memory where he faces an incumbent overseeing an economy that is in serious trouble and he has been consistently, almost universally behind. That's pretty abysmal.

Ah, reasonable point. And now that he is in the lead your new take is to be baffled or assume that there is something wrong with the polls/markets? My explanation is that the voters have finally accepted that yes, the economy is in serious trouble and that maybe, this guy Romney might be better equipped to handle it.

I've no idea how this justifies your silly assertions about Palin.

I don't make up just so stories to justify an over-confident belief about Obama's chances of winning. I know that the race is a complex dynamic that cannot be modeled completely and I accept that there will always be some degree of uncertainty. I actually understand and accept that much of my views are driven by ego. There simply is no comparison between us. Even when Obama was at his height I never made claims that approach your hubris driven claims. I have honestly been surprised at how badly Romney has pulled but never but never did I use that fact to weave narratives about why Romney would lose. I've said for months, and you know this is true, that the race would be close.

Well, I have sensed that the economy would end up being the issue and that Obama would inevitably hit the iceberg. Perhaps I crowed too soon when it seemed to happen. Let's see where this one ends up. Maybe you will have the last laugh, but I doubt it.
 
Well, the question was asked. I could either go with the conspiracy theory that somebody is manipulating the market, or point out that there are actually (gasp) reputable polls that indicate Romney might actually win.
What do you mean. Romney has always had a chance to win? And I don't for a moment dismiss Intrade. I come here regularly to post movement in the polls even when it favors Romney and I don't try to rationalize it. Everytime I said the polls would be close that meant precisely that "Romney might actually win". I've just thought his chances have until recently ranged from 20 - 30%. Now it is as high as 45%. That's significant.

Ah, reasonable point. And now that he is in the lead your new take is to be baffled or assume that there is something wrong with the polls/markets? My explanation is that the voters have finally accepted that yes, the economy is in serious trouble and that maybe, this guy Romney might be better equipped to handle it.
I wouldn't mind if you couch it in those terms. I find it inadequate to explain all of the data but that's fine. BTW: My point about the Intrade is correct and I'm not baffled. It is possible to manipulate markets and Intrade is not consistent with the other polls (other than the momentum to date still appears to be in Romney's favor). So it is a reasonable possibility. I honestly don't know. But I've not tried to minimize or rationalize the other polls that have shown a trend in favor of Romney. I've only tried to address the volatile and inconsistent nature of Intrade. That's it.

Well, I have sensed that the economy would end up being the issue and that Obama would inevitably hit the iceberg. Perhaps I crowed too soon when it seemed to happen. Let's see where this one ends up. Maybe you will have the last laugh, but I doubt it.
I can live with that. BTW: I was pulling for Obama in the last election and I never gloated over the win. I'm not interested in "the last laugh" but I understand your point and I can move on. Thanks for your input. Sincerely.
 
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What do you mean. Romney has always had a chance to win? And I don't for a moment dismiss Intrade. I come here regularly to post movement in the polls even when it favors Romney and I don't try to rationalize it. Everytime I said the polls would be close that meant precisely that "Romney might actually win". I've just thought his chances have until recently ranged from 20 - 30%. Now it is as high as 45%. That's significant.

I wouldn't mind if you couch it in those terms. I find it inadequate to explain all of the data but that's fine. BTW: My point about the Intrade is correct and I'm not baffled. It is possible to manipulate markets and Intrade is not consistent with the other polls (other than the momentum to date still appears to be in Romney's favor). So it is a reasonable possibility. I honestly don't know. But I've not tried to minimize or rationalize the other polls that have shown a trend in favor of Romney. I've only tried to address the volatile and inconsistent nature of Intrade. That's it.

Actually InTrade is in line with most of the polls, except that it does not yet have Romney favored. You can argue that it is not in line with most of the other prediction markets. I have pointed out in the past that the IEM may be biased towards Democrats because they paid out on Al Gore contracts in 2000, because their model is solely based on who wins the popular vote.

If Romney maintains a lead at RCP or even declines somewhat, I would fully expect the markets to show a steady uptick in his stock value. That is just sensible given that the election is most likely to be close. That said, it will either be a romp for Romney, a close win for Romney or a very close win for Obama. I think Obama's chances of a strong win have disappeared.

Why do I still say there's a chance for a very close win for Obama? Well, this summer my nephew (seventh grader) asked me what it meant to be a skeptic. And I told him it meant that even if you thought something was unlikely to happen (or vice-versa), but you weren't sure and you were rooting for it not to happen (or vice-versa), then you should have a substantial skepticism about your own desires and beliefs coming true.

I can live with that. BTW: I was pulling for Obama in the last election and I never gloated over the win. I'm not interested in "the last laugh" but I understand your point and I can move on. Thanks for your input. Sincerely.

K, I was using "last laugh" as synonymous with being right, not necessarily indicating gloating (although I reserve the right to gloat this year if I have the opportunity).
 
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I'm not real bright and not sure I understand the mechanics of Intrade. Oh, I get the major premise. You can bet on someone winning or someone losing at a given price. But you can sell short (or sell at a profit). How much of what we're seeing now could be people adjusting their holdings?

Also, when it says... Want to sell ... $4.49, there are 464 shares available at this price... Does that mean other bettors are moving shares and would be happy to get $4.49 because they're laying them off? For the past five days there have always been a small handful available to buy (bet for Romney to win) and a much larger amount available to sell (bet for Romney to lose). E.G. in the current screen it's 1 available to buy and 79 available to sell. I'm not suggesting anything - I'm just curious as to how it works and the significance of those numbers.

Brainster, the bettors at Intrade have generally showed that they don't ignore the factors that your posts are ignoring.... the state races. In previous months, they've proved to be pretty savvy. Now the state races have closed a bit, what with NC being "awarded" to Romney and RCP inexplicably putting PA, WI, and MI in the toss-up category... so that could account for some movement. But those adjustments are well over a week ago. The other battleground states are still leaning the way they were, too. So what have the Intrade bettors figured out? That the national popular vote is more important than the EC?

I might agree with you that they're just following the news and the race is certainly closer than it was,... if not for the fact that they've always been pretty savvy as to the way the elections really work. Now, maybe they're picking up a lot of European money from people just hearing how well Mitt is doing of late, maybe they're being manipulated, maybe everyone in the country who doesn't understand the electoral system was gifted a hundred dollars by an aunt and decided to bet on the guy who's ahead.... I dunno. But with a known case of manipulation last presidential election and with RCP reporting Intrade and only Intrade, there is definitely motivation to push the numbers up. The action is cheap to attract small bettors, so someone with a pile of cash could easily pick up (or dump) a crapload of shares if they wanted to momentarily push the market.
 
Brainster is also ignoring the fact that we have direct evidence of manipulation of Intrade in the last day or so. In fact, as I was watching Intrade last night at about 10:05pm EDT, I saw another similar spike take place - right in front of my eyes - where one person purchased hundreds of shares of Romney in one shot, driving the price of Romney's shares up to about 48% (again). And there was another big buy spike at about 10:30pm, also trying to drive Romney's shares up to about 48%...



And since those manipulations, the Intrade market has been consistently correcting itself - downward for Romney. As I said earlier, I will wait another day or so to see what happens at Intrade, but I think the argument by Brainster that this is evidence of a Romney "surge" is pure fantasy on his part.
 
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I still can't understand why Romney would be 45% on intrade right now. He was 35% less then a week ago and has done nothing to bring it up.... he's lost 2 debates.

Yeah I get there may be some manipulation going on.... But wouldn't there be money to correct that? If Romney's campaign or supporters were really trying to "rig the markets"..... Aren't they really just giving money away? If so... why aren't people lined up to take that money?

FWIW, the Romney campaign has also been spending money on TV ads especially in swing states. So I'm not sure the he "has done nothing to bring it up" is a true statement.

And there's also the outside organization ads.
 

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