{"id":5077,"date":"2024-06-21T10:10:42","date_gmt":"2024-06-20T23:40:42","guid":{"rendered":"https:\/\/strawman.com\/blog\/?p=5077"},"modified":"2024-06-21T10:10:42","modified_gmt":"2024-06-20T23:40:42","slug":"advantage-federer-investing-wisdom-from-a-tennis-great","status":"publish","type":"post","link":"https:\/\/strawman.com\/blog\/advantage-federer-investing-wisdom-from-a-tennis-great\/","title":{"rendered":"Advantage Federer: Investing Wisdom From a Tennis Great"},"content":{"rendered":"\n<p>Tennis legend Roger Federer recently delivered the commencement address at Dartmouth university, and it\u2019s well worth a watch. He is, as always, a class act.<\/p>\n\n\n\n<p>Roger isn\u2019t exactly known for his investing prowess, although let it be noted he has had considerable success on that front. Over the years he earned around $130 million in prize money, but the majority of his wealth (estimated at close to A$1 billion) was made off the court.<\/p>\n\n\n\n<p>Endorsements, of course, make up a decent chunk of his wealth, but he\u2019s also had good success with direct business and real estate investments and is even rumoured to be contemplating a move into venture capital.<\/p>\n\n\n\n<p>We\u2019ll see what, if anything, comes from that, but there was a part of his talk at Dartmouth that makes me think he likely has the proper mindset to be successful.<\/p>\n\n\n\n<p>Specifically:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Perfection is impossible.<\/p>\n\n\n\n<p>In the 1,526 singles matches I played in my career, I won almost 80% of those matches.<\/p>\n\n\n\n<p>But what percentage of points did I win? 54%.<\/p>\n\n\n\n<p>In other words, even top ranked tennis players win barely more than half the points they play.<\/p>\n\n\n\n<p>When you lose every second point on average, you learn not to dwell on every shot.<\/p>\n\n\n\n<p>You teach yourself to think:<\/p>\n\n\n\n<p>&#8216;Okay, I double faulted\u2026it&#8217;s only a point.&#8217;<\/p>\n\n\n\n<p>&#8216;Okay, I came to the net and I got passed again\u2026it&#8217;s only a point.&#8217;<\/p>\n\n\n\n<p>Even a great shot, an overhead backhand smash that ends up on ESPN&#8217;s top 10 playlist \u2013 that too is just a point.<\/p>\n\n\n\n<p>Here&#8217;s why I&#8217;m telling you this.<\/p>\n\n\n\n<p>When you&#8217;re playing a point, it has to be the most important thing in the world. And it is.<\/p>\n\n\n\n<p>But when it&#8217;s behind you, it&#8217;s behind you.<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>Perfection is impossible.<\/p>\n<\/div><\/div>\n\n\n\n<p>This mindset is crucial \u2013 because it frees you to fully commit to the next point with intensity, clarity, and focus.&#8221;<br><\/p>\n<cite>Roger Federer<\/cite><\/blockquote>\n\n\n\n<p>The sentiment is reminiscent of something Michael Jordan, another sporting legend once said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>I&#8217;ve missed more than 9,000 shots in my career. I&#8217;ve lost almost 300 games.<\/p>\n\n\n\n<p>26 times, I&#8217;ve been trusted to take the game-winning shot and missed.<\/p>\n\n\n\n<p>I&#8217;ve failed over and over and over again in my life. And that is why I succeed.<br><\/p>\n<cite>Michael Jordan<\/cite><\/blockquote>\n\n\n\n<p><br>There\u2019s just so much wisdom in these quotes, and it\u2019s something we as investors need to fully internalise.<\/p>\n\n\n\n<p>Investing is a probabilistic affair. And as Howard Marks says \u201cno one is so good that they can be right all the time, or even a high percentage of the time\u201d. Or, to put it more plainly, you\u2019re guaranteed to make loads of bad investments over your career \u2013 it\u2019s unavoidable.<\/p>\n\n\n\n<p>But those that dwell on those failures will be less receptive to the next opportunity that comes along. And there is always another opportunity ahead.<\/p>\n\n\n\n<p>It\u2019s a hackneyed phrase, but every mistake really is an opportunity to learn. And it is those that persevere through the rough patches that come out the other side stronger and wiser.<\/p>\n\n\n\n<p>Smooth seas do not make skillful sailors.<\/p>\n\n\n\n<p>In investing, as in life, it&#8217;s not about being perfect &#8211; it&#8217;s about staying in the game, learning from your mistakes, and always being ready for the next opportunity.<\/p>\n\n\n\n<p class=\"has-text-align-center has-very-dark-gray-color has-very-light-gray-background-color has-text-color has-background has-normal-font-size\"><em>Strawman is Australia\u2019s premier online investment club. <br>Members share research &amp; recommendations on ASX-listed stocks by managing Virtual Portfolios and building Company Reports. By ranking content according to performance and community endorsement, Strawman provides accountable and peer-reviewed investment insights. <\/em> <\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-very-light-gray-color has-tertiary-background-color has-text-color has-background has-text-align-center wp-element-button\" href=\"https:\/\/strawman.com\/member\/landing\/signup\"> Create your FREE Strawman account<\/a><\/div>\n<\/div>\n\n\n\n<p class=\"has-cyan-bluish-gray-color has-text-color\"><em><strong>Disclaimer\u2013<\/strong> Strawman is not a broker and you cannot purchase shares through the platform. All trades on Strawman use play money and are intended only as a tool to gain experience and have fun. No content on Strawman should be considered an inducement to to buy or sell real world financial securities, and you should seek professional advice before making any investment decisions<\/em>.<\/p>\n\n\n\n<p class=\"has-text-align-center has-cyan-bluish-gray-color has-text-color\">\u00a9 2024 Strawman Pty Ltd. All rights reserved.<\/p>\n\n\n\n<p class=\"has-text-align-center\">| <a href=\"https:\/\/strawman.com\/member\/landing\/privacy\">Privacy Policy<\/a>&nbsp;|&nbsp;<a href=\"https:\/\/strawman.com\/member\/landing\/terms\">Terms of Service<\/a> |<\/p>\n\n\n\n<p class=\"has-text-align-center has-cyan-bluish-gray-color has-text-color\"><em>ACN: 610 908 211<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tennis legend Roger Federer recently delivered the commencement address at Dartmouth university, and it\u2019s well worth a watch. He is, as always, a class act. Roger isn\u2019t exactly known for his investing prowess, although let it be noted he has had considerable success on that front. Over the years he earned around $130 million in prize money, but the majority [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Advantage Federer: Investing Wisdom From a Tennis Great - Strawman Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/strawman.com\/blog\/advantage-federer-investing-wisdom-from-a-tennis-great\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advantage Federer: Investing Wisdom From a Tennis Great - Strawman Blog\" \/>\n<meta property=\"og:description\" content=\"Tennis legend Roger Federer recently delivered the commencement address at Dartmouth university, and it\u2019s well worth a watch. 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