OMAM's Cowley: Televisions don't go up in price

For some weeks I’ve been trying to buy a 32” 7-series LED Samsung television. My local PC World has a display model and each week I ask if they have any in stock. “Next week,” I am repeatedly told. Last week I tried again. “Next week, but if you buy today we guarantee it will be the same price when it’s delivered.” I replied: “It’s not going to go up in price?” The salesman said hopefully: “It might. That’s our ‘price promise.’ But televisions do not go up in price, I told him. The situation raised several questions, the first being, “Where is the stock?” Once, you could walk into any...