The World Economic Forum in the Swiss alpine resort of Davos, never a budget destination on the conference circuit, just got a whole lot more expensive. The franc jumped at least 14 percent today after the Swiss central bank decided now was the time to stop capping its value. A dollar today buys a Davos delegate 88 Swiss centimes, down from 97 centimes a month ago. That means a Johnny Walker Blue at the Belvedere Hotel, the schmoozer’s hostelry of choice during the forum, would set you back the equivalent of $41 today for the 36-franc whisky, about $6 more than a nightcap yesterday. Across town at the Hotel Seehof, a bottle of 2004 Dom Perignon for those in a celebratory mood will cost about $400, up from $343 before the Swiss National Bank’s announcement. [Bloomberg]
Nassim Nicholas Taleb Just Wants To Remind Everyone That Davos Is For A$$-Kissing Fame Whores
In case his feelings about the annual gathering were unclear.