Financial advice required

[Mich the Tester]

Sorry.

Dynamic Currency Conversion.

http://www.barclaycard.co.uk/busines...cy-conversion/

Have you not developed a completely useless mathematical model that could give EO a pseudo-rational answer to his question?

[Menelaus]

Have you not developed a completely useless mathematical model that could give EO a pseudo-rational answer to his question?

Haven't developed a completely useless model in years, but thanks for asking.

[DiscoStu]

Take a Tornado for a spin, buy some Euros in Italy and bring them back. Just don't spill any bolognese sauce on them.

HTH

[Mich the Tester]

Haven't developed a completely useless model in years, but thanks for asking.

You know, those 'risk models' for bankers?

The ones I tested and proved were tulipe, but was told to shut my mouth.

[Gibbon]

keep driving to Italy and we’ve never failed to end up somewhere good.

Not surprising really, even in the most tulipe place there is good food, coffee and vino.

[Mich the Tester]

Not surprising really, even in the most tulipe place there is good food, coffee and vino.

Ended up stranded in this place once.

[Menelaus]

You know, those 'risk models' for bankers?

The ones I tested and proved were tulipe, but was told to shut my mouth.

The issue with the models that the investment community were using (and still use) is not with the models themselves, it's with the interpretation of their output.

I am completely aware of how nuanced that sounds and how it might appear that I'm gilding the lily here but if one examines the inputs, assumptions and outputs of the models these were all fine.

"Irrational exuberance" in the markets for buying - in effect - anything that had an underlying security without investigating either what that security was or how it was valued (basic due diligences) had a much larger part to play in this than models.

However, returning to your point, as for the "blame" associated with the global recession, there's plenty of blame to go around, and none of us get off scot-free.

[Mich the Tester]

The issue with the models that the investment community were using (and still use) is not with the models themselves, it's with the interpretation of their output.

I am completely aware of how nuanced that sounds and how it might appear that I'm gilding the lily here but if one examines the inputs, assumptions and outputs of the models these were all fine.

"Irrational exuberance" in the markets for buying - in effect - anything that had an underlying security without investigating either what that security was or how it was valued (basic due diligences) had a much larger part to play in this than models.

However, returning to your point, as for the "blame" associated with the global recession, there's plenty of blame to go around, and none of us get off scot-free.

I don’t mind taking the blame if I’m paid handsomely for it.

[sweetandsour]

Sorry. 's

Dynamic Currency Conversion.

http://www.barclaycard.co.uk/busines...cy-conversion/

OK, I can see the value of the DCC scheme.

What's in it for the customer? - They get to see the purchase in their home currency.

What's in it for the retailer? - Better customer service and they get some commission.

What's in it for the card network? - I don't understand that bit.

So far so good.

The next bit was

it is, however, used sometimes by the acquiring companies to take up the slack in arbitrage and thus give you a wholly rubbishy rate in return.

You lost me on that bit too.

[Gibbon]

Ended up stranded in this place once.

Nice, only three months and I'll be in Montepulciano, wine tasting.