{"id":22848,"date":"2008-07-31T23:46:00","date_gmt":"2008-07-31T23:46:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=480"},"modified":"2008-07-31T23:46:00","modified_gmt":"2008-07-31T23:46:00","slug":"dolce-far-niente-lucro-cesante","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/dolce-far-niente-lucro-cesante\/","title":{"rendered":"The sweet life of doing nothing, loss of earnings."},"content":{"rendered":"
\"\"<\/a>As we mentioned last August, almost all activity comes to a standstill during this month. The run-up to July makes the slowdown less abrupt, but it really does become difficult to work and get in touch with most of the people who make up our daily working routine. This lack of productivity for practically 10% of the year sets us permanently apart from other parts of the world, such as Japan, where it is customary to have just over a week\u2019s annual holiday, which barely affects their productivity. In any case, we tend to refer to our summer \u2018productive hibernation\u2019 as \u00abwell-deserved rest\u00bb, <\/span>although, personally, I\u2019ve always found it a rather sweeping definition.<\/div>\n
Whether deserved or undeserved, what is clear is that, to a greater or lesser extent, everyone takes a temporary break (or definitely<\/a>) their work. And most employees do so without this affecting their earnings; however, the vagaries of the market during August tend to mean that the dolce far niente<\/span> with the loss of earnings<\/span>. Whether it is down to Murphy\u2019s Law itself or a hidden hand at work when investors\u2019 ability to react is at its lowest, the fact is that in August there are often erratic market movements that tend to cost holidaymakers far more money than the mere cost of their holidays. But we\u2019ll be discussing these holiday crises (financial ones, of course) in a future article.<\/p>\n

\"\"<\/a>Now let\u2019s focus on the sun, the beach and the sun cream on tanned backs. Beachside democracy brings together rich and poor, fat and thin, beautiful and ugly\u2026 And also successful investors, losers and even those who have never risked their money beyond their conservative pension scheme, which invests passively in emerging market equities. Nudity on the beach can give us the chance to lay out our towel next to the all-inclusive resort<\/a> an executive from a company whose shares have been purchased by the investment fund in which we have invested our savings. Perhaps we\u2019ll be sitting at the same table at the Captain\u2019s Gala Dinner, during a cruise<\/a> across the Mediterranean, with a banker\/fishmonger<\/a> who is enjoying their bonus for having achieved the required turnover per customer. It is also possible that, during a guided tour, someone might bump into their portfolio manager as he or she is leaving one of the hotel\u2019s suites Burj Al Arab<\/a> in Dubai.<\/p>\n

\"\"<\/a>The beauty of summer is that we can enjoy our holidays anonymously alongside others affected by the crisis; in sun loungers next to those who\u2019ve made a fortune trading oil futures; or, love handle to love handle, with those jointly responsible for the carnage wrought on our heritage. But it\u2019s best not to think about it; let\u2019s forget about the investment and financial status of the holidaymakers around us \u2013 and our own. Let each mast bear its own sail, and let\u2019s enjoy the surf without worrying about who\u2019s holding the board next to us.<\/p>\n

Those of us who ensure that the profits keep rolling in will carry on writing and riding the waves of crisis, waiting for \u00abthe big one\u00bb and making sure no one drowns or gets burnt. It\u2019s part of the job.<\/div>","protected":false},"excerpt":{"rendered":"

Como ya dijimos en el mes de agosto pasado, casi toda actividad se paraliza durante este mes. El preludio de Julio hace menos brusca la frenada, pero realmente se hace dif\u00edcil trabajar y contactar con la mayor\u00eda de personas que conforman la rutina laboral. Esta falta de productividad durante pr\u00e1cticamente un 10% del a\u00f1o nos […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-22848","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=22848"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22848\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=22848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=22848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=22848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}