Though there seems to be a commonality between investing and surfing Scott Tominaga with an experience of more than 25 years in financial services thinks there is a lot an investor can learn from a surfer. His close observation of both an investor and a surfer has made him draw very interesting similarities between the two.
His expertise in the financial field and knowledge of market conditions give him the confidence to find such similarities. He is also known to have in-depth knowledge of compliance, brokerage, and investment. Based on this analogy he explains investment in terms of surfing. He considers the sea the market and the surfer the investor, while the wave on which the surfer would ride the rise and fall in the market.
Preparation before surfing
Any dedicated surfer always prepares well before going to the sea. He/she purchases the best equipment from the best shop available and also inquires about the sea to what they can expect when they get to the sea. This is mainly because surprises either in the sea or investment are never a welcome thing. They try to be prepared for the possibilities they are likely to face, says Scott Tominaga, so that can be ready for and are not caught off guard.
Checking of ideal conditions
Surfer always gets to know about the kind of weather they should expect on the day they decide to go surfing. This they do to ensure that no time or effort is wasted on a day that is not suitable for surfing. Basically, they try to get an understanding of the conditions. Similarly, an investor should gain information about the company and industry in which they intend to invest. Studying the trends to know when is the best time to invest, so that they do not waste time, effort, or money is also one way to know the waters in which an investor wishes to invest.
Knowing the right wave to surf
Surfers are seen to let some waves go by since they are not in the best stance to ride that; at the time they may see some other surfers ride the wave but they should not feel bad about it. Similarly, an investor too, suggests Scott Tominaga, should be prepared to let go of some of the opportunities if they do not feel confident about their position to invest yet. The approach should be methodical, one which has more or less all corners figured out. If and when the timing and preparation are right, then the approach should be employed and thereafter followed religiously.
Looking for another good wave
A good surfer is always aware that one or the other they will wipe out on a good wave, but that should not dim their spirits. They stay vigilant for the next good wave so that they can ride it and enjoy the satisfaction it brings with it. In the same way, an investor too should be on the lookout for the next best opportunity that comes their way.
Thus, through this very clear comparison between a surfer and an investor Mr. Scott has well established the attitude an investor must harbor when they intend to put their money in the market and save for the future.
