Morton Kondracke has a Wall Street Journal article about Mike Bloomberg's presidential possibilities that makes some sound points:
Mr. Bloomberg also closed New York City's $6 billion deficit in 2002 and left his successor with a balanced city budget in 2013. He battled teachers unions to improve New York public schools, and championed tough anticrime and antiterrorism policies. He's emphatically pro-business and pro-free trade. He is not, in other words, a knee-jerk liberal. He is a moderate....If Mr. Bloomberg is, as rumored, willing to spend $1 billion on a presidential bid, he shouldn't devote it all just to a single election. He also should establish something lasting—perhaps modeled on the Democratic Leadership Council that (temporarily) shifted the Democratic Party toward the center in the 1980s and provided Bill Clinton with a base to run in 1992.
A Centrist Leadership Council could fashion a reform agenda—pro-growth economics (including tax reform, infrastructure-building, entitlement reform and free trade), immigration reform, action on climate change, moderate social policy, fighting poverty and fostering more economic opportunity, and a strong defense. Such a council could also gather like-minded leaders and voters around that agenda through a well-financed, national network.
Mr. Kondracke predicts that if Mr. Bloomberg runs for president he would not win. I think it is too soon to tell on that front, and I certainly can see a scenario in which he would beat Trump and Sanders, or Cruz and Sanders.