Transitioning into my role has been easier than moving from accountant to cricketer. In the corporate world, I have more control over my schedule, which is important with a young family. While I enjoyed the unpredictable nature of being called up for tours and travelling over the domestic summer, it was very disruptive to my home life. Although I miss the excitement of the competition, I don’t miss being a cricketer.
My new role is incredibly rewarding, it combines a motivated team atmosphere with the challenge of navigating a steep learning curve. The most significant shift has been moving from a role where I was highly experienced and knowledgeable to being the newcomer once again, with a lot to learn – a complete switch from my cricket career. It requires discipline, a lot of listening and learning to find my feet in the advisory world.
What similarities can you draw from cricket in your new role?
Sport and corporate life often share similar principles, such as discipline, consistency, preparation and teamwork. However, my experience since leaving the sport has shown me that nothing quite compares to the ultimate test of skill and endurance found in test cricket. I feel fortunate to have vivid and lasting memories from that time.
There is so much unpredictability in every match played, when you wake up for the first morning of a five-day game, not knowing if you’ll be preparing to bat or bowl until the coin is tossed. Similar to the unpredictable nature of a cricket test match, markets and share prices can vary daily and shift over extended periods.
Success in both scenarios requires patience and resilience. Just as enduring tough conditions at the batting crease can lead to significant rewards, staying invested through market volatility can also yield positive outcomes.
How do you position yourself when faced with adversity, is attack the best form of defense?
A market correction often presents the best buying opportunities, it’s a time to be bold when others are fearful. Much like in cricket, where you need to take on bowlers with courage in tough conditions, investing requires a similar bravery, especially when others are hesitant. When the pitch is challenging, you must be ready to attack or face the consequences.
Diversification is crucial in reducing risk, similar to how consistent performance over many innings contributes to long-term success in cricket. The difference between top players (Kane Williamson, Joe Root, Steve Smith and Virat Kohli) and the rest, is their ability to make good decisions. Getting through tough times and riding the highs and lows along the way is earned through unwavering discipline, preparation and managing emotions.
Diversification is key to minimising risk, much like consistent good decision-making at the crease across many innings ensures long-term success in cricket.
What can we learn from cricket as investors?
As an investor, there are valuable lessons to be learnt from watching these high-performing batsmen. Their success comes from making good decisions, adhering to a well-thought-out plan and you will end up on top in the long run. That is professional sport, and it is a long-term investment.
Experience in sports is often taken for granted, it can be one of the great chicken and egg situations where you can’t get the experience at the highest level unless you’re given a chance and don’t have the experience until you do. This experience, like investing, is all about time and opportunity. For the majority that don’t start investing early, when they do start it’s all too common to hear ‘why didn’t I start 10 years ago?’.
Test cricket is aptly named – the ultimate test. Similarly, investing can be a challenging journey, emotionally more than anything. However, with the right advice and guidance amidst uncertainty, the potential rewards can be life-changing if you remain disciplined and patient over the long term.
Jarden Wealth Limited is an NZX advisory firm. A financial advice disclosure statement is available free of charge at jarden.co.nz/our-services/wealth-management/financial-advice-provider-disclosure-statement/.
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