IN ISOLATION WITH STEFAN NOLTE
Managing Director, Liemeta ME Ltd
Stefan Nolte is the Managing Director of Liemeta ME Ltd which is a company that provides for the safe and sophisticated storage of precious physical metals, such as, gold, silver, platinum and palladium, at its prime location in Liechtenstein. Originally from Germany, he moved to Cyprus in 1999 and lives in Nicosia, from where he operates his businesses.
Where are you spending isolation and who with? Any pets?
Well, not that much different than usual. I am in my office during the daytime, and I am still working around 10 hours per day, with my staff working part-time. Otherwise, I am at home, with gratefully, plenty of time during the weekend to indulge my hobby of fine cooking.
Our pets are not a reason to leave the house, but we have two Amazon parrots and a cat.
How are you coping with isolation? How are you staying busy?
I am working on developing visions and ideas on how to shape my business after the crisis. We see an increased demand for precious metals, so I am busy selling gold and silver, as well as liaising with our storage facilities in Liechtenstein.
What is the current status of your business?
The current crisis has created yet another wave of “money-printing” or QE, Quantitative Easing, which is what they call it nowadays. This has decreased people’s confidence in Central Banks and our monetary systems, and thus increases a run of safe investments, aka physical gold. However, our other businesses are down by at least 95%.
Do you have anything you would like to promote?
First and most importantly, I would like to promote patience and confidence for everybody. Feeling down does not make anything better, it only worsens our state of mind, and we are harming ourselves with sadness.
Instead, we should use these enforced calm times to think about means and measures on how to shape our future, what we should do differently, how we could become more resilient, and the values on which we wish to focus.
Secondly, I would like to promote more thoughts on how people can preserve their wealth. In Cyprus, wealthy people generally believe in only two things, namely real estate and cash on account. Both are not bad but won’t really help during the crisis. Real estate is not a liquid asset as it will not help you when you most need more liquidity. At the moment, who would buy a property from you during a severe crisis? Cash on account, on the other hand, is the surest way to lose money. Measured in gold, the Euro has lost more than 84% of its value since its inception in 1999.
Do you have a message/advice for other business owners?
Oh yes! Don’t allow yourself to get frustrated! Frustration will only paralyse you and make everything worse. Be prepared for the worst-case scenarios, get yourself ready to face it with stoic calmness and reserve your energy for new visions and to create a better future.
What is positive about being in isolation?
Too much to write… it would be a book by the end!
What is negative about being in isolation?
Once again, too much to write…it would be a book by the end!
Are you cooking and if so, share your favourite dish?
A lot! Cooking is my passion since I was 13 or 14. All tasty dishes prepared with passion and commitment are my favourites, from Thai food to Chinese, Indian, Italian and French cuisine.
What have you been watching to pass the time? Can you recommend any films/series?
I don’t watch films, and God save me from watching a series! Watching films is a passive engagement. I prefer active engagements, like reading books instead; I am currently reading about platform marketing.
What have you been listening to in terms of music? Can you recommend an album?
Jazz, Jazz, and Jazz.
When things get back to normal, what are you looking forward to the most?
I am looking forward to implementing my new visions and strategies.
For more information on precious metals storage and trade, visit Liemeta ME Ltd or call +357 222 72 320.