OK, I admit I couldn’t suppress a contented grin when I started seeing emails from back at ROE about how they are having trouble clearing the paths of snow … Right now its 68 degrees and sunny here on Stanford campus.

But if you want your revenge, you can take a look at this web page showing the history of the dollar-pound exchange rate. Can you guess the point on the graph where Andy decides he can afford a Palo Alto style rent on his UK salary, and signs a contract to pay that for a whole year ?  Anybody else taken a 30% pay cut recently ?? Humpph.

Ah, but it is sunny.

7 Responses to Schadenfreude

  1. Tony says:

    You need a website where you can do a deal with someone going in the other direction. If the currency moves more than 10 points in one direction, he pays you, in the other direction, you pay him. Or just get your friendly broker to find someone who’s betting the currency will move in the other direction to that which would disadvantage you and use them to hedge your loan.

  2. mikew says:

    Have you always thought in Fahrenheit or does it just seem right whilst in Ca?

  3. andyxl says:

    Mike – I am regressing to childhood I guess. I grew up in F, then converted to C like a good European; but of course most people here give you puzzled stares if you speak in C.

    Tony – or perhaps I should just get a job in the City as an Exchange dealer ?

  4. Nick Cross says:

    It went the other way when I was living in the States. All my savings from my postdoc were almost worthless. I should have waited until now to convert them to pounds.

  5. Martin E. says:

    Monday I heard the BBC World go on and on about the snowstorm in London and how it closed down the airports etc etc. All very exciting of course, as it only happens every 20 years or so. What got to me was the whingeing [sp?] from the callers in who were livid that ‘we weren’t ready, yet those Russians and Swedes cope with far worse’ [sprinkle #Q$%@#@#$!!! symbols to taste.] Come on guys, if you buy the right equipment now, it’ll be rusted and unservicable next time you need it, 20 years from now. Then you’ll say: ‘What a waste of public money!!!’
    London isn’t ready because it’s daft to be ready. The Russians have no choice, but Londoners should relax and enjoy it.

    ps sorry about the exchange rate Andy. If it stays like this though, I can be very generous next time we’re in Edinburgh together, instead of begging for pennies as of late.

  6. Tony says:

    Speaking of whingeing: I was reading a Guardian online article about the oil refinery strike. This is British workers complaining about Italian workers being brought in to do some job. Seems a number of the pickets were carrying signs saying ‘Workers of the world, unite!’.

  7. Stephen says:

    I worked at a stock exchange, and we supported currency options. The spiel was that a company in Japan could buy an option to hedge their deal with the US, allowing them to make money even if the exchange rate changed. But what we really got was leveraged gambling. It’s amazing that it’s taken even ten years for it to smack us in the face. And smack us in the face it has.

    Last year, i noticed that the housing market was so bad that, like it or not, i have a house. Since selling it was impossible, i thought maybe i should get an equity loan for my entire outstanding equity, and walk away from the house. With my equity, i could buy a house in foreclosure. My credit rating would tank, but i’d own a house with no mortgage payments. I didn’t do it. It’s the financial industry that has brought us this kind of insanity. Who’d a thunk it? I would. But no one listens to me. Heck, i don’t even listen.

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