How has the coronavirus affected your day-to-day work?
Where do you want me to start? My commute is now six seconds and not an hour. My alarm still goes off at the same time so I now get into the ‘office’ an awful lot earlier! I am a bit of a nomad anyway – living in Hertfordshire and working out of London when the company has its HQ in Tunbridge Wells – so I’m fairly well used to working on my own.
I’m fortunate to have an office at home (see right)and, having used it for years, my kids know not to bother me as well when the office door is closed. I’m obviously saving a fortune in not having to buy train tickets every day. But I’m missing not reading. I like to read on the train on my commute but I can’t even get my Kindle turned on in time before getting at my desk from the moment I close the bedroom door and walk down the stairs …
What has been your biggest contributor to performance since the coronavirus hit markets? What has been your biggest detractor?
Too difficult to state. Many of our clients demand we be fully invested across the cycle. We are long-term investors.
Do you have any behavioural mechanisms in place for navigating the market volatility?
Our models are built for the long-term
What has surprised you most about markets during the coronavirus sell-off?
The speed and severity of the sell-off. And the complete lack of fundamental vision on companies.
What feedback have you had from clients since the coronavirus sell-off?
Very little.
What are the key messages you want to hear from your holdings at the moment?
That some action is being taken; that processes are sturdy; that there is market liquidity should they want to trade; that nobody is throwing themselves off a cliff.
How does this compare to other market sell-offs you have managed money through?
I haven’t seen or felt like this before, and I’ve seen the Tequila Crisis, the LTCM Crisis, the Asian Crisis, the dot-com crisis, the gilt crisis, the Brexit crisis …
How do you find working remotely during volatile markets?
I have a phone. If I want to talk to people I will. I like the quietness to contemplate, read, test scenarios and the like, but I also like to communicate with others to see what they are thinking and why. This is not unlike a typical day, though, to be honest.
What do you do for fun when you take a break from working at home?
Mrs P tells me what I can do, when I can do it and how much I can enjoy it.
What is your favourite snack when working from home?
I am actually quite focused when I work from home – and I hardly snack in the office …
Do you have a ‘top tip’ to share on working remotely?
Find out where the mobile phone ‘dead spots’ are in your house so, when walking around while on the phone, you can avoid those areas.
Richard Philbin is chief investment officer at Wellian Investment Solutions
