Content provided by Scott Kubie, CFA, CLS Chief Strategist
Scott Kubie, his wife Cherie and son Raef, outside the Tower of London.
The Kubies have now been to Europe. Thanks to a sabbatical benefit, my family and I were able to take a 10-day trip to Europe in late June and early July. While the sabbatical is supposed to help employees get away from the daily grind, I can’t stop seeing the world in investment terms. So, here is the investment commentary on our European vacation.
- Invest for value: Traveling by subway and train saved us a lot of money and time. Our trip primarily took place in London and Paris, and neither was easy to drive in. But, both have low-cost options for getting to the best sites, and many are more convenient. In the case of the Louvre, the entrance from the subway station usually has shorter lines than the main entrance above ground. Even with a couple small mistakes, the subways and trains were a big win.
- Do your research: My wife did a great job identifying attractions that were close together and planning outside events when the weather was cool. Travel guides were also extremely helpful. They led us to visit some great places, like the Churchill War Rooms, and helped us avoid some low-value tourist traps.
- Know your objectives: Our family likes museums, particularly history museums. A few years ago, I listened to a podcast titled “A History of the World in 100 Objects.” It detailed 100 items in the British Museum that offer insight to the development of the civilization. It was great to see some of those objects in person and to have allocated enough time to take in much of what the museum has to offer.
- Admit your mistakes: No one in our family quite gets modern art (no doubt the problem is ours more than the artists’). So, after touring the Tate Modern for a short time, we realized continuing to visit modern art exhibits wasn’t the best use of our limited time.
- Diversify: Wimbledon started the first day we arrived. Watching tennis the evening of opening day provided a great way to stretch our legs and experience our first tennis major. It was a memorable experience and a nice change of pace from the rest of the trip. Taking a train to Paris was also a noteworthy experience and less stressful than flying (as long as traveling under the English Channel doesn’t bother you).
Scott and Cherie Kubie on opening day of Wimbledon.
- Budget constraints: Our two biggest constraints were time and energy. In Britain, the museums close early, so England was more intense. By the time we reached Paris, the energy budget was running low. In the middle of the Paris leg, we traveled to Normandy to see the D-Day beaches. While a long day, it was well worth it and didn’t require as much walking. That easier day allowed us the energy to do a later 26,000-step day, which included Versailles and Napoleon’s tomb.
I really enjoyed Europe and was glad to have the time off. At the same time, I’m happy to be back in Nebraska looking for the best areas to allocate for risk. Europe is definitely on the list.
The Kubie family at Pointe du Hoc in Normandy, visiting a German gun emplacement.