It has been said that the futures market in political careers has many similarities with the world of stocks and equities. Just as the market can have a dramatic impact on the price of a company, so the turbulent world of current affairs can have a catastrophic effect on the prospects of a politician.

While just a few short weeks ago David Davis seemed to have the contest to lead the Tory party in the bag, the smart money is now going elsewhere. After last week's votes, the simple advice for any political portfolio must surely be: buy Cameron and sell Davis.

With his commanding lead both in the newspaper polls and among his peers, it seems that David Cameron's election as the next leader of the Conservative Party is as safe as a 1980s privatisation of government assets.

But, just as the Stock Market first fell in love with internet companies whose values soared without the companies ever making a profit, only to slump in the wake of a market adjustment, so David Cameron has managed to ride this wave of popularity without yet setting out his detailed vision for his party.

Indeed, it has been Mr Cameron's reluctance to say anything about the stories that have surrounded him which has earned him the respect of many. Yet just because those stories took a back seat last week, there is no certainty that they are finished with.

Indeed the nightmare scenario for the Tories may now come in the form of a victory for David Davis by default, after Mr Cameron has been forced to withdraw following allegations, unproven or otherwise, which the media may choose to run over the coming weeks.

Should such a series of events transpire then Mr Davis, who gained the support of less than 40 per cent of his fellow MPs last week, may yet end up leading the Tory party.

The speed of David Cameron's likely ascent means that for those tempted to indulge in the lucrative market of kiss and tell, the temptation may now prove irresistible. Indeed the market price of a story which bankrupts one of the Tory's bright young thing must have surely doubled as a result of the voting last week.

Yet, having won the first round of his battle with the media, the question for David Cameron is whether he will have the stomach to withstand any future slings and arrows of outrageous tabloid allegations. By standing firm to his already impressive resolve, Mr Cameron's coronation from leader apparent to prime minister in waiting will proceed to the cheers of all who feel that the balance of power in favour of the tabloids needs redressing.

It is a sign of our media driven age that the future leadership of the Conservative Party lies as much in the hands of scandalmongers as it does in votes of the rank and file members of the party.