fb

Monte Carlo or bust.

Monte Carlo or bust.

I bumped into an old friend of mine that I haven’t seen for nearly a year the other day. He’s a really good guy and I’ve known him a long time. We were chatting over a coffee and the subject of Grand Prix motor racing came up. He’s a keen follower of the sport and was excited by the prospect of Jenson Button joining Lewis Hamilton on the McLaren team. He was even more excited in that he was planning a trip to the Monaco Grand Prix this coming May with a group of friends. It was a lifelong ambition of his to make the trip to Monaco to see the Grand Prix and he’s been lucky enough to secure some tickets for the Grand Prix in May.

 

I was excited for him and, if I’m honest, slightly jealous! Having said that, May is always a busy month for us tutors so I’m not sure I’d be able to get the time off to join him. In fact, the closest I’ll get to Monaco in May is the Monte Carlo simulation model which as every good P4 student knows is a model that uses probability distribution analysis to analyze the possible outcomes of a project. It is built on the simultaneous changes of many variables, the relationships between these variables being defined in advance, e.g. if price is reduced, how much demand may go up. (Monte Carlo is also a district within Monaco!).

Now, I love teaching P4 and explaining the mechanics of the Monte Carlo simulation is good fun but I must admit that if a spare ticket does comes up then the joys of teaching the Monte Carlo model may have to take a back seat to the joys of watching the Grand Prix!

Share this entry

Recent articles

View All Articles
Out of this world fashion.
Oct 18, 2024
Title
Out of this world fashion.
Excerpt

If you’re lucky enough to buy your clothes from Prada, will your next purchase be a nice dress, […]

Should we park this?
Oct 16, 2024
Title
Should we park this?
Excerpt

Getting the balance right between innovation and ethics is important in business. Frankfurt’s new parking portal offers a […]

Would a good liar make a good accountant?
Oct 12, 2024
Title
Would a good liar make a good accountant?
Excerpt

Do you have children? Have they ever told you a lie? Even a small teeny weeny lie? Well, […]

Was that true? Was that fair?
Oct 09, 2024
Title
Was that true? Was that fair?
Excerpt

I’ve been a qualified accountant for a fair few years now. I had the pleasure of bumping into […]

How much do Big 4 partners get paid?
Oct 03, 2024
Title
How much do Big 4 partners get paid?
Excerpt

Making it to partner at one of the Big 4 accounting firms—Deloitte, EY, KPMG, and PwC—is considered by […]

Problems at Naomi Campbell’s charity…
Oct 02, 2024
Title
Problems at Naomi Campbell’s charity…
Excerpt

The Supermodel Naomi Campbell was recently banned from serving as a charity trustee for five years. This all […]

Lego – building strategy blocks…
Sep 29, 2024
Title
Lego – building strategy blocks…
Excerpt

Many a parent has felt the pain of standing on a Lego brick which their son or daughter […]

Famous accountants, but not for accounting…
Sep 27, 2024
Title
Famous accountants, but not for accounting…
Excerpt

Accounting, often called the “language of business”, has served as a foundational skillset for many who’ve achieved greatness […]