Out

Off to Nice, Cote d'Azur, Not Here, France, tmw morning at the unholy hour of 7.15am -- that being the only plane available from Gatwick to Nice that I could book a seat on. Clearly the number of people going to Nice falls off dramatically in "low" season.

I've rented an apartment in central Nice, away from the Vielle Ville (or is it Vieux Ville?). It's only about £460 for the week, about 40% of high-season rates.


Luckily I "chose" today to start running good again. Three big-stacks all-in pre-flop with AKs vs KK and KJo (!!) slapped into a flush on the river. Then my AA on the button found KK in the CO. Opponent carved it so badly. He failed to four-bet, but still managed to stack off on a flop of Axx.

So, that's paid for the holiday.



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Another £25bn of helicopter money this week. This is kind of another quarter percent cut by proxy (because you can't actually cut), but does it necesarily imply the QE will be unwound before interest rates go up? That seems to be the macro-economists' assumption, implying that interest rates will stay super-low for another two years at least.

This is not necessarily true. "Last in, first out" strikes me as a less than 50% likely scenario here. That said, I'm hedging a bit by putting some money into equities (defends against gradual increases in inflation with producers maintaining pricing power), some into index-linked (defends against a sudden shooting up in inflation) and some into paying down the mortgage (defends against five years of low interest rates, low inflation, followed by whatever). I've decided that debt doesn't psychologically suit me, even if it does make financial sense. I just want to get it out of the way.


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With luck, will be posting pics next week....

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