Monday
The week begins with a mix of research, meetings and analysis. I start by looking at LNG, focusing on how the war is affecting pricing dynamics and investment decisions across the sector.
I then catch up with management at a UK industrial company. The eye opener there is that while I was thinking they were hiring workers in Poland on £18k instead of more in France on £35k it turns out the game has moved on again and they are now hiring in Turkey at £13k. I hadn’t thought about Poland losing out to places like Slovakia, Hungary and Turkey so that was an education.
Part of the day is also spent looking at global AI investment trends, particularly around software vulnerabilities, alongside a discussion with a UK energy-intensive business on how they are adapting to the energy price shock from Iran and how they changed their contracts after the last price shock with Ukraine in 2022. It’s a good reminder of how great the best management teams are at anticipating risks.
There is also a client meeting with UK investors and an update with some Italian clients.
The day finishes with a change of pace from analysis to creativity: drawing characters from Donut Squad with my nine-year-old.
Tuesday
It’s an early start – up at 4:30am for the first flight out of Heathrow at 6:30am, heading to Zurich for a big client presentation.
Afterwards, I head into Mirabaud AM’s Zurich office to catch up with the Swiss equities team, focusing on mutual holdings and exchanging views across portfolios. I also spend time following up on questions from a recent site visit with our healthcare holding Ambea.
Later in the day, I look at the history of oil shocks and their macroeconomic impacts, helpful background for a new idea we are considering which could help diversify our exposure in the energy sector.
I then take the train to Geneva, where the day ends with drinks and a catch-up with our new head of Swiss sales.
Wednesday
The day starts with a run by the lake – it’s a beautiful scene with the mountains in the distance. The only thing is I’ve totally misjudged the cold and by half way through I can’t feel my fingers.
In the Geneva office, I catch up with colleagues on strategy and asset allocation before presenting to wealth management clients alongside our head of research. The discussion focuses on where to find growth beyond just the defence industry in Europe, and why it’s worth looking a bit off the beaten track.
Back at the desk I catch up the team on recent meetings – dinner with the CEO of a Spanish house builder we hold highlighted how strong demand is and the scope to absorb costs. Management at an installation business we hold explained rising energy prices actually boost their business, because they improve the payback on many projects. Another reminder of why it’s so helpful to spend time on the ground seeing our companies face-to-face.
The day concludes with a few client updates before heading to the airport. My flight’s delayed, so it’s pretty late when I eventually get in.
Thursday
Another early start and first flight out. I meet up with teammate Trevor Fitzgerald at the airport and we head out to Düsseldorf.
From there, we drive – getting slightly lost along the way – to a series of company visits. The first is Tonies, the children’s screen-free audio player, where we talk about new products and the expansion of its total addressable market, both for the under-3yrs and for older children. The company is also expanding in the US and is working with big studios to launch Tonies characters in tandem with new film releases.
Lunch is a traditional schnitzel and rösti in a German pub, with an unexpected but telling moment: the waiter, originally from Turkey, mentions he has sent Tonies figurines back home to his nieces – a useful real-world datapoint.
The day continues with a visit to Deutz, which has a long history in combustion engines and now has greater exposure to off-road vehicles and agriculture. The sector is currently at a low point, but we talk about the potential for recovery if farmer incomes improve.
It’s then a dash back to the airport, chatting through the day over dinner before catching a late flight home.
Friday
Friday begins with last minute prep for a company meeting, then breakfast with the kids and walking them to school. It’s wear your pyjamas to school day but it’s not quite warm enough for the England shorts so that means a last minute costume change and a rush to get there on time.
Back at the desk for an analyst meeting on the housebuilding sector, followed by a company meeting with a materials business. Then the final meeting of the week- stock selection for the team.
The afternoon is spent catching up on newsflow and preparing for the week ahead, before switching gears again with basketball training.
Weekend
The weekend is a mix of time with friends and family. There is dinner out, alongside a busy schedule of children’s activities – street dance, breakdance, hockey and rugby – as well as a school charity event.
