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Masters at golf have the skills to be successful investors.
TD Waterhouse’s Drew Abbott and golf pro Rémi Bouchard say that if you can sink a hole-in-one while golfing, you can succeed in personal investing as well. “There are a myriad of similarities and lessons that hold true in golf and investing: from the risks and rewards of being aggressive to over-thinking a decision because of too much analysis,” Abbott, VP of Private Investment Advice says.
Bouchard, who has had more than 70 professional golf victories over the past 20 years, says “The most important thing I teach in my lessons is that there is no one correct way to swing a club.” There are plenty of ways to get the ball in the hole, he says. “The most successful golfers combine intuition, discipline, sound fundamentals and expert advice.”
Abbott says these same attributes can be found in the portfolios of successful investors. “Most successful golfers adhere to a strategy comprised of shots they have practiced, combined with the occasional high risk, potentially high reward play,” he says.
A few tips that both men say are key for success in both golf and investing include having a game plan and sticking to it, seeking advice from experts, and staying within your comfort zone. Professional golfers will never try a shot in competition that they haven’t practiced, Bouchard says. Likewise, uncalculated and unnecessary risks are not advised when investing.
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