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Notes from the Sicily Office… 2019

by | Jul 17, 2019 | AHEAD OF THE CURVE |

A.k.a post-holiday musings, burgers, beer, good intentions… and a slightly disconcerting return.

 

Following the thrills and spills of my daughters sitting the Junior and Leaving Cert, we all felt we deserved a break, (as an aside, I recently asked my pal Tommy if his wife had suffered badly when she had a disc problem many years ago. His reply was “we all suffered badly” – I now know what he meant!). In any case, we had a (mostly) valid excuse, so the family holiday was booked for Sicily for the 4th year in a row. Of course, those of you who have read our series on Behavioural Biases will know that familiarity breeds content.

 

The Big Mac Index

I’m not sure if it’s just the Irish, but most people I know compare prices a lot when abroad… and probably can’t wait to tell their pals about the bargains they secured. Many of you will have heard of The Big Mac Index which is published by The Economist and, put simply, is a way of comparing prices.

Put more technically, it is an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. It “seeks to make exchange-rate theory a bit more digestible” (I can take no credit for the pun).

 

NEW! -The Moretti Index

Maybe it’s just being Irish, or a reflection of the company I keep, but most people I know tend to commence their price comparison with beer and the price of a pint. Sometimes the conversation never progresses from there. For those people, I have created the Moretti Index substituting burgers for Italian beer… maybe I will copyright it if successful. Have a look at the prices below – that’s under 40 cents for a “normal” 330ml bottle – and there’s plenty of it too!

I will let you do the price comparison calculations from this point forward; your research project may be to stop off and purchase some Moretti on your way home this evening.

 

Good Intentions

As many of you will be aware, in Metis Ireland, we work with Joe O’Connor (www.coachpact.com) to try to ensure that all the team have the tools to master health and performance; on and off the pitch. Therefore, a bike was hired and promises were made to myself. Some of these promises were even kept.

However, as we all know, the road to hell is paved with good intentions so the investment of effort was not actually as promised. Plus, it was hot – and have you done the calculations on the Moretti Index © ??!

 

Good Intentions and a Disconcerting Return

In any case, we made it back in time for the Munster Final which was a tough day for Tipp folk but heartiest congratulations to Limerick and to Joe O’Connor on a terrific performance and a well-deserved win. You can’t be too upset when the better team (by far) wins and you have a boot load of ham sandwiches to look forward to 😊

Anyway, enough of the ramblings and the snaps; the Munster Final wasn’t the disconcerting return to which I was referring. One of the pleasures of holidays is that you get to read books that you otherwise may not get around to reading. While reading one such book by Dr Jordan Peterson*, I was astounded to discover the following statistics under the heading Why won’t you just take your damn pills?

Say 100 people are prescribed a drug to help make them better, 33 won’t make it to the pharmacy to fill the prescription. Of the remaining 67, roughly half won’t take the medicine correctly… they’ll miss doses… they’ll quit early… and some won’t even take it at all.

As a believer in, and an advocate of, Making Better Decisions this is upsetting. If we are so slipshod about our health, what hope have we when it comes to the complex and sometimes tedious matter of organising and planning our finances? The good news is that there is a way to help; by having an easy to understand visual plan for you and your family; we call it the Metis LifePlan.

If your intentions are good and you would like a no obligation chat to see if we can help, please contact us info@metisireland.ie

 

Ian Cooke
Private Client Manager

 

* I found Dr Peterson’s book really interesting but a bit heavy; here’s a link to a video that summarises it nicely – and quickly!

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