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Time - Man of the Year
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Time_Man_of_the_Year_Compact_Publishing_3YX-Disc-1_Compact_Publishing_1993.iso
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021792
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1992-08-28
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31 lines
GRAPEVINE, Page 19HANDICAPPING THE HOMETOWN BOY
By JANICE CASTRO/Reported by Wendy Cole
Iowans may love favorite son TOM HARKIN, but last week on
the eve of their caucuses, some of his neighbors were trading
Harkin futures at just 8. THE UNIVERSITY OF IOWA has been
operating a futures market in presidential prospects for
students, faculty and staff. In the winner-take-all gamble, top
share price is $1; the average investment is $15. Traders at
about 20 other college campuses, including UCLA, Caltech,
Northwestern and the University of Virginia, will soon be able
to play. So far, the market seems to be a better barometer than
opinion polls. In 1988, the day before the election, Bush shares
were trading 8 percentage points higher than DukakisU_almost
exactly his victory margin in the popular vote. Currently,
Clinton is the heavy favorite for the Democratic nomination,
trading at 53, followed by Kerrey at 14. Tsongas is leading
Harkin by nearly 2; Jerry Brown started well at a penny but has
fallen to 0.4.