5 Business Podcasts You Should Be Listening To

By Anya Cooklin-Lofting

For many, investments of passion are a welcome balm to the complexities and intangibilities of more traditional investment categories like stocks and bonds. At their most basic, passion investments involve the purchase of items you love that tend to be defined by their rarity, quality, cultural or aesthetic value and of course, their demand. It is all about investing in alternative kinds of assets that bring you more than just a return on your investment should you choose to sell. In other words, such investments offer investors the chance to enjoy the items under their care. 

Typical passion investments include art and furniture, jewellery, coins and cars, which generally demonstrate an increase in value over time, or at least tend to hold their value. Because passion investors aren’t guaranteed a return, it’s important to look at how different passion investment categories have performed over the last couple of decades to help inform their purchases. However, investments of passion do tend to perform well during periods of economic uncertainty because the value of passion asset classes doesn’t undulate with the rise and fall of potentially unfavourable stock markets. In this way, passion investing proves to be a sensible, enjoyable and rewarding way to diversify your investment portfolio. 

The best part about investing, and investing in passion asset classes more specifically, is that you don’t have to be an ultra-high net worth individual to get involved. While there are some categories that demand a certain amount of wealth due to the nature of the assets (such as classic cars), the majority offer entry-level investment opportunities for every budget.

Fine art is the best example of a passion investment that feels at once democratic and exclusive depending on the financial commitment you’re happy to make. Although there is no guarantee that your investment will pay off, you’ll be able to enjoy the art while you own it and bide your time while tastes and demands fluctuate. 

The same principles can be applied to antique and designer furniture or jewellery. Our collective, quickly changing tastes and preferences adversely affect the valuation of these kinds of assets. The best thing to do over and above enjoying your purchases is to keep them safe, clean and out of direct sunlight.

The more progressive, experimental set of passion investors, however, are turning to other asset classes. Designer trainers, for example, have come into their own as an investment category, hence the £22,783 price tag attached to the Kanye West X Louis Vuitton collection. But one of the most headline-grabbing passion investment options is in Non-Fungible Tokens or NFTs, which allow passion investors to own digital assets. 

In the midst of the pandemic in March 2021, market tracking revealed a collective spend of US$200 million on NFTs including artworks, memes and gifs. Fundamentally, an NFT is a non-interchangeable, non-replicable asset, making it more similar to a piece of art in the physical world than the cryptocurrency one would use to buy it. 

This is well summarised the popularity of ‘Bored Ape’ NFTs, a limited edition of 10,000 artworks with different unique traits and qualities, owned largely by super-rich musicians and sports personalities and created by the application software developer, Yuga Labs. The very human act of art-buying is driven by aesthetics; we buy the art that speaks to us, and this is also how passion investors pursue their NFTs, and Bored Apes in particular. But on a wider, slightly more psycho-sociological level, Yuga Labs has created a brand-led community in the same way that other luxury brands have done, giving wealthy participants in the community a sense of belonging and prestige. They have successfully built a digital community that uses a heady cocktail of ‘hype’ (as celebrities publically invest in their NFTs) and new technology to charm an audience and persuade people into passion investments that serve to express their digital identities. 

In the same way a passion investor in physical fine art might collect works from a narrow artistic movement, era or style to say something about who they are in the world, NFT investors are investing in works that inform their digital presence. All of us with any disposable income have those things in our lives that feel like part of the collage of ‘stuff’ that makes up our curated personalities. NFTs are just an extension of that phenomenon but in the digital world. 

By Anya Cooklin-Lofting

Picture the scene: you’ve donned your coolest, floatiest clothes, a pair of trusty flip-flops and a rather sweet straw hat you picked up at the stifling market square just yesterday afternoon. Your skin smells of suncream and there is a light breeze to cut through the relentless rays of glorious sunshine. It’s early, still, and the day still holds the promise of poolside peace, cocktails on the sand and a balmy evening with loved ones. Now, though, it’s time to check out some of the cultural hotspots of whichever island, city or untouched village you have escaped to for some of the very finest European summer sunshine.

Exploring the cultural gems of the local area while you switch off from the bustle of daily life is one of the most rewarding parts of a summer holiday. It helps to enrich your understanding of the region, from the religious sensibilities of the people to the aesthetic principles of the architecture, the influences on local cuisine to the customs of daily life. Local places of worship provide a cool sanctuary for a moment’s reflection while museums narrativise local history to give context and depth to the otherwise Instagrammable whitewashed walls and twisting cobbled streets. Read on for a few of the very best cultural must-sees in our favourite summer sun locations…

The Cyclades 

For ecclesiastical, architectural awe under the beating sun, look no further than Greece. Some of its world-famous churches are richly adorned and deliciously rustic, while others stand out against the cerulean firmament with their bright white, Cycladic silhouettes. One of the most culturally intriguing of Greece’s many churches is the 4th century Byzantine Church of Panagia Ekatontapiliani, or The Church of 100 Doors, located on the island of Paros. Paros is known for its white marble and decidedly un-touristy atmosphere, at least when compared to Mykonos, Rhodes or Santorini. Its most famous church is steeped in ancient legend; according to local lore, the 100th door, which is either hidden, undiscovered or non-existent, will appear again only when Constantinople becomes Greek again. 

Catalonia

This Spanish site of cultural interest has kept me coming back for more over the years: the Salvador Dalí House Museum, located in Port Lligat, Catalonia, on the east coast. A 15-minute walk from the quaint fishing village and resort of Cadaqués, the house-museum comprises the labyrinthine living quarters and studio space of the infamous Surrealist artist, Dalí himself. He lived and worked there from 1930 to 1982 amongst the eclectic, sprawling collection of memorabilia that trickles out into the grounds and, of course, onto the roof. The property is distinguishable from afar by the larger-than-life egg on the tiles of said roof, a primary Dalinian artistic symbol. Pick up an ice-cold beer at Bar Llevant Port Lligat just opposite the exit and then wander back along the rural roads towards Cadaqués for a plate of pan con tomate on the beach.

Ibiza

Notorious for its nightlife, Ibiza also boasts a rich cultural heritage to explore by day. It may surprise readers to know that Ibiza is actually one of the earliest towns in Europe, first settled by the Carthaginians in 654BC. It is also a UNESCO World Heritage Site. One of the most interesting parts of the town’s history is the way it has been used across centuries, from its use as a strategic port to a defensive fortress in its early life, and now, as one of the world’s most popular and infamous resorts. One of the best ways to immerse yourself in the town’s cultural heritage is to visit Can Ros, the Ethnographic Museum of Ibiza. The 300-year-old farmhouse, built in Ibiza’s rural architectural style known as Ibicenco, showcases an ethnographic collection of domestic items and artefacts that bring history to life. From household utensils to jewellery and from musical instruments to weaponry, Can Ros unlocks the private histories of the people who were here long before the holidaymakers.

Trogir

Croatia has become a go-to for summer sun, especially since 2012 when the country joined the EU. The move prompted a reinvestment in the Croatian economy and lessened custom control, resulting in almost 6 million tourist arrivals the following year alone. Each year, the country reports further increases, and it’s easy to see why when you consider the beautiful climate, the gorgeous beaches and the undeniable Game of Thrones draw. Popular spots include Dubrovnik, Split and Zagreb, each boasting their own cultural delights, but the town of Trogir, a UNESCO World Heritage Site just 27km from Split, is truly the country’s most mindblowing historic epicentre. Trogir is often considered an open museum due to its bounty of architectural must-sees, including a series of Gothic, Renaissance, Romanesque and Baroque structures. Walking within the city walls, tourists are treated to an endless stream of street-level sightseeing opportunities, such as the 13th-century Cathedral of St Lawrence, the city Loggia and the Cipiko Palaces.