In some ways, I could understand investor Steven Wood's debut gambit to join the Swatch Group's Board of Directors. A Swatch in the collection of the Swatch Museum. As near as I can tell, Wood appeared on the scene around eight months ago and began leveling a lot of criticism. He claimed that, in light of his concerns, the Swatch Group Board of Directors should change in composition. Wood's primary allegation seemed to be that the Swatch Group share price didn't grow at a reasonable rate. Now, in those circumstances, the solution for any investor is straightforward: pull your money out or don't put your money there in the first place. Nobody is required to hold Swatch Group shares. But for Wood, the solution seems to be a type of slow-motion managerial coup attempt, one that I find bizarre for many reasons. I'd like to outline those here. First is the fact that this really does seem like a quixotic effort. The founding Hayek family controls something lik...
I first became acquainted with independent watch brand Zeitwinkel sometime in 2020 during the pandemic. The doorway into Zeitwinkel's workshop. For a while, I'd seen a lot of folks posting about watch chats on Clubhouse, a new social media app experiencing shockingly rapid adoption. I hadn't been able to participate, though, because Clubhouse was iOS-only for quite a while. Eventually the app was released for Android and I hopped into a channel hosting watch industry chats. The discussions were informative and enjoyable. One of Zeitwinkel's co-founders, Albert Edelmann, was a regular. I appreciated his candor as well as his sense of humor. As time passed, we continued to chat online and I had the opportunity to meet Albert in person at a Redbar event and during Watchtime in New York. He extended an invitation to visit Zeitwinkel's workshop in Switzerland, which I really appreciated, but just couldn't arrange until this year. So back in September I found ...