By Joel Frick, portfolio manager at Bendura Bank
Greetings from Jesolo – or, to be more precise, from a campsite on the Italian Adriatic coast. Anyone who travels with children knows that holidays here are less of a quiet retreat and more like a little world of their own, with sand between your toes, bikes outside the mobile home, gelato in the afternoon and the daily dilemma of whether to head for the pool, the beach or the playground first.
That is precisely what makes it so appealing. Jesolo is not a place where you have to search long and hard for things to do. Much of it is straightforward, lively and immediate. The days follow a simple rhythm: the sea in the morning, shade at midday, pizza or pasta in the evening, or a stroll along the promenade. In between, there is plenty of scope to take a step back from everyday life and gain a fresh perspective.
A campsite is almost a mini-lesson in organisation and pragmatism: lots of people, different needs, limited space – and yet many things work surprisingly well when the infrastructure is right and everyone knows what matters. It’s not entirely different when it comes to investing either.
What I appreciate about Switzerland is precisely this combination of reliability, quality and foresight. It is evident in the way people work, discuss matters and make decisions. Swiss investors are often very discerning, but also very thoughtful. They ask the right questions: not just about returns, but also about risks, stability, currencies and how a portfolio will fare through different market phases.
