Gosling's Grouse - National Lampoon's Financial Vacation

"Sterling has strengthened overnight, Dad," my 10-year-old son told me randomly as he watched the breakfast news while we were on holiday, and then promptly told me what the sterling/dollar exchange rate was.

I was impressed. The next day he did the same and also chucked in the fact that not much was happening with sterling and the euro – his words, not mine  – before concluding: “That’s why it’s so expensive to go to France these days.” Blimey, I thought, he is either going to make a hedge fund manager or a Premiership footballer. I started to explain what a hedge fund manager was and thought I was doing quite well: “They are people who try and predict what exchange rates are going to be in the future and make money if they are correct.” Then his sister interjected and said: “They are ric...