“Honestly, the next match I’m not really going to focus on my opponent more than myself. I need to play good tennis. I need to play even better than I did today… I need to play at a high level…"
I’ve always believed there’s a lot to learn from sports, in this case from tennis, that can be applied to many areas of life.
What would be the equivalent of Félix’s quote in the world of investing?
To me, it means not worrying too much about the stock market when it comes to investing, at least in the short term. This seems especially true right now, when North American stock indices appear as invincible as Jannik Sinner.
Just like Félix, who didn’t want to think too much about his opponent, it’s important to focus your attention on your own portfolio, on the companies within it, and on its overall construction — setting aside what the stock indices are doing. For Félix, this approach to his match against Sinner seemed like the best one; I believe the same holds true for long-term investors like us. In fact, I’d say this mindset probably served him well, as he played, in my opinion, a first-rate match against Sinner, even though he ultimately lost.
What does it mean to focus on your own game?
It means sticking to the fundamentals that have made you successful for so long, playing your own style of game, and not straying from it. It also means not changing your approach too much based on your opponent. It probably also implies not being intimidated by your opponent or by the importance of the moment. These are easy things to say, but much harder to put into practice!
For me, in my work as a portfolio manager, it means focusing my attention and energy on the companies we own, analyzing them objectively. It also means continuing to relentlessly seek out new companies that could improve our portfolio’s long-term prospects. Above all, it’s essential to return to the fundamental principles of our already rigorous investment process.
Félix may not have won his match against Sinner, but he put up a fierce fight against the world’s number one player. More importantly, I believe he learned a lot from the experience and probably came out of it stronger.
For me, the takeaway is that, in the long run, it’s better to focus on your own game than to be swayed by your opponent’s short-term performance — in this case, the stock market indices.
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(in French)
