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Of the delegates available. so prepare for a process that is long and so much volatility and bloomberg doesn't start participating until -- >> not bad for republicans. >> two things on iowa, one, is it a fluid state until caucus day. this will change ten times not just between now and the new year but until the actual caucus. whoever make be up a week ahead may lose the race because it is about winnowing the process down regardless of who comes on top. >> and about doug's point waiting until the last minute to make a decision that is an advantage of those that can't participate because they ar...

So i think we should all prepare for a process that is going to go long and so much volatility and bloomberg doesn't start participating until -- >> not bad for republicans. >> two things on iowa, one, is it a fluid state until caucus day. this will change ten times not just between now and the new year but until the actual caucus. whoever make be up a week ahead may come in third place. it's not necessarily about winning iowa. it's about whittling it down and see who comes out on top. >> and about doug's point waiting until the last minute to make a decision, that is an advantage of those tha...