Prices

Shopping in boutiques during the first half of June pains me. After Ascot there's a 95% certainty you'll see what you bought a couple of weeks before at a lip smacking discount. This is, of course, an illusion. The skimpy silk dresses, beautiful shoes with way-too-high heels, elegant suits and crisp summer shirts on display in Knightsbridge are overpriced even when discounted. Bottega Veneta's selling wooden platform shoes with 6 inch heels for a staggering £500 (and you would be staggering in them: apart from the heel, the weight of them would drag you down after half an hour). I couldn't resist trying them on (no, of course, I wasn't a serious buyer) and the shop assistant took great pleasure in telling me that they were the only shoes in the shop which would not be on sale. Then, take the Zimbabwean stockmarket. The index has risen 7000% this year. Yes 7000%. Inflation is so bad there that the brokers' sales pitch has become, "For the same price as a loaf of bread you can buy 100 shares in x company." That's another market I've been out of, unfortunately. Away until Wednesday.