7/28/23 7:00 AM - Lesezeit

Called To Responsibility

Robert Karas

Chief Investment Officer, Partner

“Is the vacation over? Do you have to go back to work?” I'm asked with a sympathetic expression. Should I simply answer “Yes” now? Or would I rather disqualify the question as inadmissible? It implies that work is a yoke and vacation is freedom with an expiration date. Do you agree with this opinion?

The question makes me uncomfortable because my emotions are completely different. After a vacation, I return to the office with joy and excited anticipation. Taking responsibility for entrusted wealth goes far beyond the concept of work. For me, it is more of a calling than a profession. What this means for you, when we act with conviction, you can see here.

My colleagues and I take this responsibility very seriously. After all, behind every wealth are a life's work, often created over several generations. It is not uncommon for these assets to lay the foundation allowing once again to take entrepreneurial risks, open up new markets, create jobs and enable economic growth. 

Learning by reading

Even on vacation, thoughts of the financial markets never leave me. Either a short-term event such as a company's quarterly report arouses my interest, or I learn for the long term by reading. Specifically, on my upcoming vacation, the book “Chip War” by Chris Miller. We humans are addicted to microchips, and the book highlights the political and economic importance of cutting-edge technology.  By the way, in the current Gutmann Equities Brief, we explain the global value chain and the crucial role this topic plays in our portfolios.

Speaking of vacations, this is the last Gutmann Viewpoint before the annual August break. On September 8, you will receive my next newsletter issue, already #135. Until then, I wish you a wonderful time. Your Robert Karas

Disclaimer: This is a marketing communication. Investments in financial instruments are exposed to market risks. Past performance does not predict future returns. Forecasts are not a reliable indicator of future performance. Tax treatment depends on each client's personal circumstances and may change in the future. Bank Gutmann AG hereby explicitly points out that this document is intended solely for personal use and for information only. Publishing, copying or transfer shall not be permitted without the consent of Bank Gutmann AG. The contents of this document have not been designed to meet the specific requirements of individual investors (desired return, tax situation, risk tolerance, etc.) but are of a general nature and reflect the current knowledge of the persons responsible for compiling the materials at the copy deadline. This document does not constitute an offer to buy or sell or a solicitation of an offer to buy or sell securities. 
The required data for disclosure in accordance with Section 25 Media Act is available on the following website: https://www.gutmann.at/en/about-gutmann


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