Athletes have routines. They have routines within routines.
From practices to pre-game to game time to post-game, from getting up in the morning, to the meals they eat, to the music they listen to, to getting taped up and dressed, stepping into the batters box (baseball), shooting free throws (basketball), getting into and out of the blocks (track, swimming), or starting their approach (too long to list), athletes have a process for everything.
It’s habitual, muscle memory stuff for the body and mind. It’s repetition at its finest.
It’s done for one simple reason: it helps with intense focus on the task at hand because it’s one of the few things athletes can control.
Good outcomes are the product of a sound process repeated often. But good outcomes are not always guaranteed.
Seth Klarman explains why investors should be more like athletes, with the help of James Montier: Continue Reading…