Author Sarah Tucker shares her thoughts on the reaction to the death of Margaret Thatcher
I can’t really remember much about when Maggie Thatcher was in power. I know my parents were full of praise for her because our country was almost third world when she became PM, strikes crippling industries, rubbish being left on the streets and she broke the unions – something that was thought impossible. She stood up to them and it took a lot of courage to do so.
The Steeple Times asks emerging market investor David Reuben Jr: “What’s on your mantelpiece?”
The Steeple Times shares “wit and wisdom”. What’s your guiding force?
I try to follow the “Golden Rule”. Treat others the way you would prefer that they treat you. Be careful how you are with people on your way up, you just might meet them on the way down.
“Don’t get even, get medieval” is, in our humble opinion, a great motto. What’s yours?
If at first you don’t succeed, skydiving is probably not for you.
The future for red telephone boxes
The red telephone box is something that tourists often cite as being symbolic of Britain. Just like the red London bus and the red pillar box, though, these Sir Giles Gilbert Scott designed kiosks are sadly disappearing from our streets.
Killed by the mobile phone revolution, British Telecom successfully lobbied to remove public telephones as usage has declined dramatically. The company state that calls from payphones have fallen by more than 80% in the last five years and that around 60% of the boxes cost more to maintain than they generate in revenue.
Matthew Steeples offers offers a tribute to the late Robert Troyan
I first met the larger than life Bostonian character Robert Troyan (1950 – 2013) with his partner Anthony Feldman in the early 2000s at their impressive apartment in Mayfair. Though I did not come to know them well, I fondly recall a number of evenings that they hosted there planning an event for a charity we were all involved in named Marine Conservation and several dinner parties.
This dynamic American television personality and author was one of the first women to work in “hard news” and is best known for having hosted the Today show, the ABC Evening News, The View and 20/20. She grew up “in awe” of the famous people her father, a Broadway producer and nightclub owner, introduced her to, has been married four times to three different men and got chicken pox after ‘kissing’ actor Frank Langella at a New Year’s Eve party in Miami in 2012. Walters has interviewed everyone from Fidel Castro to Michael Jackson, but her March 1999 feature on Monica Lewinsky, watched by a record 74 million viewers, is indeed one for the history books. When she asked her subject: “What will you tell your children when you have them?”, Lewinsky replied: “Mommy made a big mistake”. At that point, Walters ended the show by stating: “And that is the understatement of the year”.
The sale of the home of a circus heir and the revival of Billy Smart’s Circus
Billy Smart, Sr. (1894 – 1966), a travelling showman and father of 10 children (he was himself one of 23), bought a circus in 1946 and quickly became known as an extraordinary entertainer. One of his son’s, Billy Smart, Jr. (1934 – 2005), made his debut at the age of 12 as an assistant ringmaster in Billy Smart’s New World Circus and performed with ponies, horses and eventually elephants. (more…)
Gina Miller investigates the links between Saint Valentine and transparency in investing
According to the wise font of all knowledge, which can be extremely accurate or extremely inaccurate, Wikipedia, Saint Valentine (in Latin, Valentinus) is a widely recognised third century Roman saint commemorated on February 14th and associated since the High Middle Ages with a tradition of courtly love. Nothing is reliably known of Saint Valentine except his name and the fact that he died on February 14th.
But many of the current legends that characterise Saint Valentine were invented in the fourteenth century in England, notably by Geoffrey Chaucer and his circle, when the feast day of February 14th first became associated with romantic love.
Whatever the truth is, most people today associate Valentine’s Day with romance. When one thinks of romance it is normally in the old fashioned Mills and Boon books or the more modern 50 Shades of Grey with some dashing man seducing his future conquest but once the charming good looks are pierced, below the surface they are often found to be pretty shallow and unedifying and after a while, maybe the real cardinal sin, boring. I say this as someone who once dated a famous model who was known across the UK for taking his jeans off in the laundrette revealing a great body but sadly not a lot of substance beneath.
Where is the connection with the world I work in, investments? Well a surprising amount when you consider it. The world of investment relies on seduction but the seduction is used for all the wrong reasons and normally with all the wrong results. There is a fine line between seduction and deception. Every day countless savings and investment managers cross this line.
When you meet your wonderfully charming or slick fund manager they try to seduce you with flowery words and jargon with no meaning or deliberately assembled to impress you with its complexity; but designed to prevent you from understanding how your money is really invested or how much your money is really costing. The smoke and mirrors are crafted to beguile and reassure that by being so complex, they must be amazing to do what they do and charge what they charge. Of course more often than not investing does not really need to be so complex or expensive to get sold returns.
If you think of most great inventors or inventions they are often based on a simple design or a simple concept. In investment the living Saint of investment is widely held to be Saint Buffet of Omaha, Nebraska. He has an annual convention where thousands flock to his temple to hear and learn from every word he says since he has probably the longest and best known and maybe most successful track records of anyone. He does not make things complicated or flowery he talks of common sense and old fashioned virtues that have stood the test of time and which people can understand. He simply tries to buy companies which he trusts, thinks are great franchises that can stand the test of time; and which for whatever reason are available at the right price. He does not hide from his investors how he invests, what he invests in or his charges for the services he provides. He works alongside his clients because he is managing his own money in the same way.
When you meet your fund manager or wealth adviser or whatever other name they call themselves, don’t be seduced by the initial lavish language or entertaining or lavish date because normally this does not last and it is you who ultimately is paying for it anyway. Often the more lavish the entertaining, the more likely that they are ‘after’ something and that something is to erode more of your returns in fees.
In economics there is a term called giffen goods. These are goods by which the more that is charged the more that it is demanded, these are luxury goods. If your XXX handbag was available for £10 rather than £1,000 it would quickly lose its panache or lustre. Investment managers try and make their services desirable through charging more in the knowledge that most clients wrongly think: “If I pay more I must be getting a better product or a better performance”. However the research shows the precise opposite and that if you pay more, it simply means more money has been deducted from your savings and in turn they are then worth less.
We have been working extremely hard via a True and Fair Campaign to force by law, the investment industry to stop this deception and reveal to customers exactly how much, in total, investments are really costing and how they are really invested. The scale of this deception is truly shocking.
Maybe, just like a good relationship, there needs to be substance and openness and trust or the relationship is not a real relationship but just an empty dalliance, fun at the time but not particularly rewarding thereafter. I implore you to trust your instincts, keep to your principles and do not be seduced by the flannel. Instead, do plan today for your tomorrows and the life you dream of as you grow older and go off into the sunset of retirement.
Happy Valentine’s Day.
For more information about the True and Fair Campaign, go to: http://www.trueandfaircampaign.com
This “Boswell of the bluebloods” was a writer whose tips came from unnamed sources and “waiter[s] serving [him] risotto at dinner parties”. (more…)
Gina Miller reports on the death of the typewriter
I noted that Britain’s last ever typewriter rolled off the assembly line at Brother’s factory in Wales last week, the Brother CM1000 electronic typewriter. This was one of 5.8 million typewriters made at the factory since 1985 and it has been donated to the Science Museum in London.
Over the weekend, whilst perusing the Sunday newspapers, I shuddered at the disgraceful dumbing down of language. Then, last night, whilst watching the evening news, I was appalled by the grammar being used by newsreaders as my radar is now fully focused on honing in on grammatical sabotage.
It has struck me that with the death of the typewriter we are also experiencing the death of an era. An era in which the art and craft of writing, grammar, attention to detail, concentration and a love of words was celebrated has passed. Gone is a time where cutting and pasting required dexterity and glue. A time when mistakes, typos and bad grammar all had consequences; and when people enjoyed a romance with words has indeed moved on. Words that could be simple yet sophisticated have been sadly forgotten. I love the power of words. They are an amazing form of self-expression that can convey such beauty and such emotion. They have the power to make or break a person. They can lift or depress the spirit, they can make us rejoice or cry.
As a young girl I would sneak into the back of a courtroom and marvel as my father, a noted criminal barrister, defended a client. Years later reading the John Mortimer play, A Voyage Round My Father, I found the exact words to express my childhood wonderment. ‘He sent words into the darkness as if they were soldiers into battle,’ Mortimer wrote.
In the work environment we now use computers, which often means people are less productive and lack concentration as they are distracted by the Internet and auto spell checks which dull the intellect. Typewriters used to be chained to desks so they were not stolen or thrown out of windows. But now staff can steal time by using office hours to communicate with friends on Facebook or Twitter, shop online and book leisure activities and holidays.
Outside of work, letter writing is dying; people text to say thank you, to make up – even to break up. Communication lacks emotion, style, considered phrases and politeness. Written communications have been reduced to rough, short, sharp, harsh expressions of functionality.
I love how words taste just before you say them, how some of them have to roll around your mouth for a while before they can be uttered and how others explode off the pad of your tongue, excited to be leaving your thoughts and heading out into the world. Words like ‘strident’, ‘garrulous’, ‘mosquito’, ‘svelte’, ‘sanguine’, ‘parlour’. The word ‘rat’ that you can’t say and be tearful at the same time – it’s a great word to repeat several times when you can’t control your emotions. I love coming across words that I’ve never heard before – sometimes just hearing them is enough to satisfy my appetite but more often than not I need to get the full effect of them by thinking of how to use them. This I explore with my children where we have rhyming games, opposite games; if a word was a colour, what colour might it be?
There are some words that you can’t help but ‘feel’ as you say them – say the word ‘whisper’ and the very air around you changes as you say it. Words are beautiful to say and hear but they really come into their own when they are written down.
I’m certainly not as clever with the use of words and language as I would like to be and I probably use each and every forbidden type of style and grammar error known to man. But I firmly believe that in these fast-paced, hectic times we should all encourage a wider expansion and usage of vocabulary so that generations to come can enjoy the pleasure of words and language.
Like the health message of ‘eat 5 a day’ in terms of fruit and vegetables, I would encourage parents to ensure their children to ‘use 5 a day’ – at least 5 adjectives a day to ensure the beauty of language is kept alive.
Gina Miller is an entrepreneur, philanthropist and lover of words.
For more information about Miller Philanthropy, go to: http://www.millerphilanthropy.com
Victoria Beckham tours Brian Blessed’s former home
In April, the blog that preceded The Steeple Times featured an article on Clarence House in Richmond.
At the time this former school and home of actor Brian Blessed was priced at £22,500,000 but after languishing on the market, the price has been slashed by £4,500,000 to £18,000,000.
In recent days Victoria Beckham has been pictured touring this and other properties in south-west London. No stranger to securing a bargain and worth some £160 million, Mrs Beckham could no doubt slice a little extra off if she decided to proceed. She and her husband are allegedly set to return to the UK and an unnamed source is quoted as revealing:
“David has been really missing London and the UK recently. The royal wedding, the Olympics and now Christmas coming up have all made him long for the UK. He talks about being in London a lot and he misses his family, so it would make perfect sense for the family to all move back to Britain. For the Beckhams, Eton [as a school for their sons] would be the ultimate arrival.”
Perhaps if the couple don’t manage to get their sons to “go Eton Style,” they could reopen Clarence House as a school. The most famous pupil to pass through the doors was Bernardo O’Higgins (1778 – 1842), the liberator and founding father of Chile.
To read the original feature on Clarence House, 2 The Vineyard, Richmond Hill, Surrey, TW10 6AQ go to: http://thesteepletimes.com/opulence-splendour/blessed-clarence/
Watch the Eton Style Gangam parody at: http://www.youtube.com/watch?v=9FtZkVRkusQ