What lessons can investors learn from surfers?

As markets ebb and flow, patience and the right tools can help you ride the waves

By Jack Tierney, Head of UIT Investment Policy and Governance

Fifty years ago, thanks to the lyrics and harmonies of a certain California surf rock band, I became entranced with the idea of catching waves, which to a Midwestern kid like me, sounded like the endless summer dream. To catch a wave, surfers paddle out to a certain point in the water and wait patiently for just the right moment to catch a ride. Some waves die out early, some are steady, and every now and then you catch a really great one that makes up for all the others. However, one thing is obvious — you have to be in the water to take advantage of the opportunities.

Catching the market’s waves

If you’ve ever seen a chart of a full market cycle, it looks very much like a wave...

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