As befits the head of asset management at the country's biggest bank, Mark Watts is a canny saver. The Briton has been working in the Emirates for more than three years at the National Bank of Abu Dhabi, after a career that has spanned the United States, the United Kingdom, Asia and the Middle East.
How would you describe your financial journey so far?
Nothing goes up in a straight line. I bought my first shares when I was 14 in the UK, cycling down to my bank on my school break, still wearing my school uniform. I have always been a fan of markets and finance having collected coins and banknotes from around the world for a number of years.
The privatisation of government-owned industry in the UK in the 1980s by Margaret Thatcher sealed my fascination with the markets. Latterly, I have been diversifying out of stock and bond markets, not because I think they will fall, but - because I work in finance - my salary and future is already driven by them.
I have been focusing on property and investment wine for 10 years now and will shortly be looking into collecting signatures of kings and queens of England, a market with a classic supply and demand mismatch.
Are you a spender or a saver?
You have to strike a balance. I was fortunate in my first job to join a company that provided a final salary pension scheme that had generous benefits. Starting saving early is the best thing you can do. Saving little and often is the way to go - and make sure it comes out of your account automatically, too.
What is your philosophy towards money?
"Money makes money" and "you have to speculate to accumulate" are a couple of my favourite phrases. The first refers to the fact that once you have saved you can put your cash to work to generate more money; the second refers to having to take some investment risk to increase your wealth. Risk is not a dirty word, you need to understand it and control it so it can work for you.
Have you made any financial mistakes along the way?
Investors who claim they never make mistakes are either not entirely honest with themselves, have not been investing long enough, or are very, very lucky. Making mistakes is all part of the learning process. Understanding why you made a mistake is the most valuable lesson and working it into your investment process going forward is the key action point.
Do you believe in planning for the future?
We never know what the future holds and many of us have aspirations. The best way to make a dream come to reality is to have a plan. Regular savings act as the bridge between dreams today and success tomorrow.
Is money important to you?
This is an interesting question and there is no right answer. The pursuit of wealth for you, your family and future generations is an entirely rational goal given the political and economic systems that dominate the globe today. When you get to the extremes of behaviour you get unhealthy desires about money. A good sense of perspective and a social conscience are key here.
No debt and no need to work any longer.
What do you enjoy spending money on?
Travel and food. I love taking the family on holiday and experiencing new things. We purposely spend very little on accommodation, preferring instead to spend money on sights, experiences and local food.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Results
5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)
5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel
6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout
6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi
7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle
7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.
German plea
Ukrainian President Volodymyr Zelenskyy told the German parliament that. Russia had erected a new wall across Europe.
"It's not a Berlin Wall -- it is a Wall in central Europe between freedom and bondage and this Wall is growing bigger with every bomb" dropped on Ukraine, Zelenskyy told MPs.
Mr Zelenskyy was applauded by MPs in the Bundestag as he addressed Chancellor Olaf Scholz directly.
"Dear Mr Scholz, tear down this Wall," he said, evoking US President Ronald Reagan's 1987 appeal to Soviet leader Mikhail Gorbachev at Berlin's Brandenburg Gate.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE Tour 2020
Stage 1: The Pointe Palm Jumeirah - Dubai Silicon Oasis, 148km
Stage 2: Hatta - Hatta Dam, 168km
Stage 3: Al Qudra Cycle Track - Jebel Hafeet, 184km
Stage 4: Zabeel Park - Dubai City Walk, 173km
Stage 5: Al Ain - Jebel Hafeet, 162km
Stage 6: Al Ruwais - Al Mirfa, 158km
Stage 7: Al Maryah Island - Abu Dhabi Breakwater, 127km
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
Anna and the Apocalypse
Director: John McPhail
Starring: Ella Hunt, Malcolm Cumming, Mark Benton
Three stars
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
