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World Rowing Championship 2022: Different Investing Lessons the Sport Offers

The World Rowing Championship is set to be held in Racice, Czech Republic between 18th-25th September 2022. But did you know that besides being an adventure sport, Rowing offers a few on-point investing lessons too? Read through the article and learn the many investing lessons that Rowing teaches us.

Rowing is one of the many popular sports across countries like the US, Britain, Italy, China and Germany. It is a water activity that primarily takes place on inland rivers and lakes and uses boats called shells (often driven by eight oars) and sculls (two or four oars). Sculling is the use of two oars, one in each hand, as opposed to rowing, which includes using one oar held in both hands.

The history of rowing dates back to the time when it was used for transportation. From at least the 25th century BCE to the 4th century CE, galleys—used as both warships and ships of state—predominated in ancient Egypt (on the Nile River) and later in the Roman Empire (on the Mediterranean). The Anglo-Saxons, Danes, and Norwegians used rowing as a crucial auxiliary to sailing during their maritime war expeditions. As early as the 13th century, rowing small boats and barges on the River Thames gave rise to a company of watermen who carried passengers up, down, and across the Thames in and around London.

Today, besides being a sport that people immensely enjoy, Rowing teaches us many life as well as investing lessons. Some of which are listed down below.

5 Investing Lessons we can Learn from the Sport of Rowing

1. You Have to Push yourself to Start

In the game of rowing, when you are at the start of the line until you push the row, it is unlikely to get started. To be able to start the race, you have to push the water with the row. 

Just like in rowing, in the world of Investments too, we often wonder when is the right time to start investing. The waiting, coupled with procrastinating often takes away the supposedly ‘right time’. In some cases, the market conditions can also be a factor in the delay. In the shadow of so many ifs and buts, is there really a right time to get started with Investments? The answer is, Yes. The right time is NOW. 

To make time work in one's favour, one should start investing early and retain a time horizon of at least 10 to 15 years. The longer someone can compound money, the earlier they start. Assume that by making investments in equity-related goods over a longer period of time, the impact of volatility is significantly diminished and the capital is therefore kept safe.

2. Be Disciplined as well as Focused

Rowing a boat needs a lot of discipline and focus. To make the boat row in the same direction for a longer period of time, the mind should be disciplined. Investing also requires the same thing. 

While investing, it is important that we make it consistent. Actually, investing small sums on a monthly basis will also prove to be easy on your wallet and lessen the pressure of withdrawing a significant sum from your bank account all at once. Therefore, regular saving and investing might help you achieve all of your financial goals in life comfortably. Delaying saving for even modest life goals can lead to subsequent financial difficulties.

Regularly making wise investments in the correct kinds of securities also offers your money more time to flourish. Consequently, the effect of compounding benefits you even more. Regular investments make money expand and manifest themselves.

3. With Each positive step build Confidence, but do away with Over Confidence

Reaching the finish line in the rowing championship takes a lot of calculated and positive steps. However, with each positive and successful step, it is important that we keep up the confidence and refrain from overconfidence. Investing shares a similar ground too.

Overconfidence can have numerous detrimental effects on investors. The overconfident investor typically believes that other investors make choices based on emotions or intuition while viewing their own choices as the outcome of the logical and impartial examination.

Investors that are overconfident frequently exhibit a confirmation bias, where they only consider evidence that confirms their beliefs while ignoring evidence to the contrary. In more concrete terms, overconfidence in investing frequently results in concentration in a small number of assets, choice of expensive actively managed mutual funds in the hope of selecting one of the few potential future out performers, holding onto subpar investments to prevent loss realization, etc.

4. To Fix the Wrongs, Look on the Inside

There are often times when the boat runs into a technical malfunction. Most of the time, the riders fail to acknowledge that there could be something wrong with the interior of the boat. Instead, they start blaming the outside.

Investing can have similar scenarios too. Your investments sometime might not work to give you desired returns. When in these times, instead of always blaming the market, one should analyse their own portfolio. If need be, try to rebalance it. 

Changing the weights of the various asset classes in your investing portfolio is known as rebalancing. This is accomplished by changing the weighting of a particular asset class by purchasing or selling assets. The weighting of each asset class in your portfolio will fluctuate over time based on the performance of your assets, which will modify the risk profile of your portfolio and necessitate periodic rebalancing. Rebalancing is a crucial procedure to make sure your portfolio is constructed in a way that complies with your investment plan and risk profile.

5. Make sure you don't compare yourself to others

It is very common that the participants in the rowing championship notice, judge and look out for the moves of others. Sometimes it might but not always. In the course of looking at your competitors, participants often channelise their own strengths and use their own strategies to win. This is where despite keeping notes of others in the game, players do not compare themselves with others and hence play the game. 

When it comes to investing also don't assess yourself against others. You're not competing in their race. Everybody's investments are unique. Warren Buffett Walter Schloss, Carl Ichan, Peter Lynch, David Tepper, and Marc Andreessen, are all top investors who have their unique investing styles. Certain are long-term. Some are only temporary. Some have worth. Others are growing. Activists are some. On change, some wager. Some people wager on unchanging variables. The best investors in history had varied approaches. Don't assess yourself against others. Consider how you changed from two years ago. The only comparison that will make your investing graph go upward. 

So these were some investing lessons to be learnt by the sport of rowing. This rowing season make sure to adhere to these lessons and be the best at your Investing game too.

In the path to your successful Investment Journey, let Glide Invest play a role by guiding you towards easier and better investment. To join hands with us, download the Glide Invest App today!

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