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Democrats would do best if they abandon broad economic reformsand a more leftward political program, argued Mark Penn,a strategist known best for advising Bill and Hillary Clinton, in the pages of the New York Times Opinion section. Penn wrote that the Democratic Party mustmove to the center and reject the siren calls of the left.

Progressives have long viewed Penn with deep skepticism, noting that he has repeatedly used his close ties to Democratic officials as a vehicle for promoting his corporate clients. But theres another wrinkle to Penns advice: He now invests in Republican advocacy firms and profits from the electoral defeat of Democrats.

In March, Penns investment firm Stagwell Media LLC announced that it had acquired a minority stake in Targeted Victory, a major Republican digital consulting company. Targeted Victory, founded by personnel from Mitt Romneys 2012 presidential campaign, wasprovided consulting servicesfor Donald Trumps presidential campaign. More recently, following Penns investment in the firm, Targeted Victory assisted Republican Karen Handel in her successful campaign against Democrat Jon Ossoff in the Georgia special election last month.

Stagwell Media did not respond immediately to a request for comment.

Penns opinion column sparked a number of rebuttals on social media, with many pointing to his disastrous role advising Hillary Clinton during the 2008 primaries as a major reason people should distrust Penns advice. According to one report, Penn designed Clintons strategy based on the false assumptionthat Californias primary awarded delegates on a winner-take-all basis, instead of a proportional system. Such basic mistakes by the Clinton campaign were reportedly pivotal in Barack Obamas primary victory.

While Penn gained a new fortune by advising Microsoft, in more recent years he has slowly grown an investment portfolio that includes several lobbying and public affairs firms. Penn also owns SKDKnickerbocker, a Democrat-run company that develops policy campaigns on behalf of corporate clients including for-profit colleges, AT&T, and Herbalife.

Top photo: Mark Penn, chief strategist and pollster for Democratic presidential candidate Sen. Hillary Clinton, speaks to reporters in the spin room after the Democratic debate at Saint Anselm College in Manchester, New Hampshire on January 5, 2008.

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Clinton Strategist Mark Penn Pushes Democrats to Move to Center And Quietly Profits From GOP Victories - The Intercept