Paul Wharton
Investment Director
Paul has over 25 years’ investment experience gained as an economist, strategist and fund manager. He served as a Director, Head of Portfolio Management (UK) and Chief Investment Strategist (UK) at Deutsche Bank UK PWM and also sat as a permanent member of Deutsche Bank’s Global Investment Committee. Prior to joining Deutsche Bank he was a member of the Asset Strategy Group at Societe Generale.
Events that influenced us most
Bond market crash, 1994
The events of 1994 taught me a number of key lessons. Risk is not always in a place where the consensus thinks it is. Any asset, however “safe”, is risky if bought at the wrong price. Recognise that leverage is hugely powerful in an upswing , utterly toxic in a downswing. Don’t buy what you don't understand or buy “time-limited” investments and don’t be a forced seller – always match the duration of your investments to the duration of your liabilities.