Julien Miribel, the head watchmaker for Montblanc, discusses a life in horology.
When I was younger I had a choice: I either become a watchmaker or I become a watchmaker. Living in La Chaux-de-Fonds in Switzerland, famous for its watchmaking and home to some of the world's best-known brands, you're pretty much born into the industry. My mum worked in watchmaking, as do almost all of my friends. When we go out on Fridays sometimes we have to stop ourselves spending the whole evening discussing problems we've had with various watches or components. If you don't work on the movement, you work on the case, or on the strap, or the dial. It's not uncommon to see everybody in my town walking around in white lab coats - it's the sign of the watchmaker.
I started in the industry when I was 15 and was first taught how to train my brain and my hand. I originally learnt to work on the regular watch movements you can find in most brands, which come from the Swatch group. In 2001 I moved to Minerva, one of the only manufacturers left in Villeret, and now oversee all the prototypes in the Institut Minerva. My job is to build the first watch, with the collaboration of the technical parts, with the designers and, of course, the boss. I made the prototypes of all the new chronograph watches and the Grand Tourbillon Heures Mystérieuses from the new collection.
It's much more difficult now to become a manufacturer and produce the whole watch yourself. Most brands simply buy a movement that is already finished and add their own case and dials. And they often try to produce as many as possible. When I was at school, I needed money for the holidays so I worked for different companies, and sometimes they would want me to produce 18 or 19 in one day. That's why it's very different working here at Minerva. And since Montblanc came on board in 2007, nothing about our tradition has changed. It bought the products and the philosophy. It's the same team, the same family.
We only produce 250 pieces per year. It's not because we only want to do 250 pieces, it's just that we simply haven't got the time to make any more. There are only 45 of us in the factory and everything is done by hand; it's a totally different type of production to most others. Ninety-five per cent of the watch components are made in the same building in Villeret, which is between La Chaux-de-Fonds and Basel. Even the balance wheel, the most difficult piece to construct, is put together there. Many brands just go to the Swatch group, buy it from them and build their watch around it. That's the reason why I'm proud to work for this company for so many years and why I don't think I'll ever find another place like this.
Often you'll work for one week, sometimes much longer, on just one watch and it almost pains you to see it go at the end. It's like your girlfriend. One of my colleagues was so proud of his job that whenever he finished each watch, he'd put it in a little steel box and give it the name of a woman, such as Isabella. The people who work here are like artists. There's so much passion involved.
When people who have bought our watches come to visit the factory, we're so happy to see it because it's almost like a child returning home. Looking at the model, we can tell who exactly made the watch, and you can't find this in many other places. Even when you talk about the very high-end watchmaker, if they're making over 1,000 watches a year, there's no way you can give each the same level of attention. To produce that many you have to go into much more industrialisation and it takes away the personal touch of the watchmaker to the watch.
At Institut Minerva, it's really a pleasure for me to work with these kinds of movements. In other companies, where my friends work, they say it can be very boring, especially if you're making lots of movements in one day. Everybody just sits there listening to music. Sometimes it's like mass production; you just make one part and pass it on. It's very sad, and that's probably why they don't do tours. But if you want to produce watches in larger quantities at a different price level, it's the only way. I never listen to music when at work. I'm never bored.
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
More from Neighbourhood Watch:
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
RESULT
Kolkata Knight Riders 169-7 (20 ovs)
Rajasthan Royals 144-4 (20 ovs)
Kolkata win by 25 runs
Next match
Sunrisers Hyderabad v Kolkata Knight Riders, Friday, 5.30pm
Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa
Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia
Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
Match info
Australia 580
Pakistan 240 and 335
Result: Australia win by an innings and five runs
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Second Test, Day 2:
South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining
MATCH INFO
Delhi Daredevils 174-4 (20 ovs)
Mumbai Indians 163 (19.3 ovs)
Delhi won the match by 11 runs