Monday, 8 February 2016
I didn't go last year so I am making up for it this year. I've managed to reduce the family ski holiday bill by 75% - I'm going by myself. Well to be honest I'm going with six other fellows who have pulled the same trick. I leave in 30mins for Ischgl so some quick ski / market terms. Feel free to add.
Piste. A groomed slope that should be easy to follow but normally peppered with tumbles. Fed dots.
Off Piste. The ungroomed adventurous mountain slopes for experts only. Emerging markets.
Ski a device you strap to yourself to spread your weight over a weak surface allowing you to navigate down a slope. A futures spread.
Lift - A device to carry you upwards with little effort. Carry trades.
Drag lift. ECB policy.
Chair lift. Jannet Yellen and Fed policy
Bubble lift. FANG
Cable car. A crowded confined space expected to get you to the top quickly though there is normally a long wait for it to get going. Short Sterling long Usd.
Piste basher. A large complex machine designed to prepare the piste. Central bank press conferences.
Slalom. A run consisting of sharp turns. Market expectation of Fed policy.
Ski jump. LinkedIn stock.
Cross country. A long hard slog across the flat with little enjoyment. Long usd/sar.
Snowmachine. Produces an artificial surface when conditions don't support the real thing. QE.
White out. When you can't see a thing. Chinese data
Powder. Perfect conditions rarely found but awesome when experienced. Long bonds in 2008.
Avalanche. When everything gets buried. Too many examples to quote.
Apres ski, Vin chaud, red wine, Jeagermeister, vodka redbull, teqilla shots. A good idea at the time when you are broken at the end of the day and want to get things going, which they do for a mad brief time before the headaches set in. Negative interest rate policy.