Investing lessons…..from the U.S. Open tennis
Those who follow tennis were shocked by this weekend’s events at the U.S. Open. A complete underdog took the women’s trophy, another Brit secured a unique double of doubles, while the bookies’ favourite was knocked out in straight sets in the men’s. On historic sporting occasions such as these, the investor should take some time to sit back and reflect upon their own game play.
Djokovic’s recent performance is the perfect metaphor for a bad investment: the kind that gets caught up in a mania and leaves investors dumbfounded when the stock fails. Djokovic was onto a winning streak. Out of the last 12 major championships, Djokovic had won 8 of them. This year he was going for the “Gland Slam”: the achievement of winning all 4 major tournaments in the same year, which only two other men have ever done. The media went in hard on “greatest ever” rhetoric and it became impossible for anyone to imagine this “wizard” being beat. The first mistake…