Welcome to The Weekend Investor, a weekly newsletter where I provide actionable ideas to help you build a  wealthier, healthier, and happier life even if your time is limited.

Today at a glance:

• The Surfer Mentality: Embrace the present, savoring the beauty of the moment, while understanding that change is inevitable and new opportunities will always present themselves. Ride the wave of life with joy and confidence.
• 5 ideas for applying this mentality in investing: 1.) Leverage the power of the present moment to maximize your investment returns. 2.) Develop a well-thought-out strategy to capitalize on the ebbs and flows of the market. 3.) Refrain from making hasty decisions, and wait for the right opportunity to arise. 4.) Take calculated risks and never shy away from investing. 5.) Embrace uncertainty and be resilient in the face of adversity.
• Follow-up book recommendation: The Wave: In pursuit of Rogues, Freaks, and Giants of the Ocean

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The Surfer Mentally - How You Can Apply it to Investing   

This newsletter was inspired by Sahil Bloom's Curiosity Chronicle, an article called The Surfer Mentality where he talks about how one can apply it to everyday life.

However, I first came across the concept from a hedge fund founder & manager named James Ropel (@upticken on Twitter) when he recommended one of my new favorite books: The Wave by Susan Casey.

The Book tells the story of a group of surfers and scientists who are determined to conquer "the ultimate wave" - a record-breaking, 100-foot tall wave off the coast of Northern California. Through their journey, Casey explores the mysterious, powerful, and sometimes deadly nature of ocean waves and the people who are drawn to them.

The book dives deep into the history of big-wave surfing, the dangers of riding these massive waves, and the motivations of the surfers who risk their lives to ride them. 

When reading this book, I couldn't help but see the similarities between surfing and investing. I also thought about how if we adopted the surfer mentality we would be much better investors.

Enjoy Every Wave While It Lasts, There's Always Another Wave Coming

Sahil explains The Surfer Metality as such: 

"The Surfer Mentality is a simple, powerful application of this metaphor:

When a surfer gets up on a wave, they enjoy the present moment, even though they know with certainty that the wave will eventually end. They fully enjoy THIS wave, with the wisdom and awareness that there are always more waves coming." 

Check out the surfer rules below and think about how you can apply them to investing or trading. 

Beyond this, here are some investing applications I have considered: 

The investor knows that they don't have to invest in every opportunity that comes their way. They have the freedom and the power to choose which investments to make, and which to let pass by.

The investor knows that most of the time they won't be investing, but just researching and waiting. They know that sometimes there will be long, painful periods between good investments. Sometimes so long that they may start to wonder whether there will ever be a good investment again. 

They know that patience and proper research are all that matters when the next great opportunity inevitably comes.

The investor knows that the only way to succeed is by putting themself out there in the market. You can't make any money sitting on the sidelines. There's always a risk of losing money, but the rewards are worth it.

They know that sometimes a bad investment will crash down on them and hold them underwater. They know that they may come up for air only to be hit by another one. 

They can weather these hits with a stoic awareness that remaining flexible will serve them better than clinging to a single investment.

How to Embrace Your Inner Surfer While Investing or Trading

 I'm not much of a surfer, but I've spent a lot of time thinking about how I can apply this mentality to my own investing.

 Here are 5 ideas you should steal...

Enjoy Your Profits: The next time you find yourself with a profitable investment, enjoy it! Don't worry about how long it will last, when it will end, or whether you will ever have such a successful investment again. Just be mindful and appreciate where you are in the present. Trust that there will be more opportunities in the future.

Be Strategic About Your Investments: There's a tendency to jump into an investment without much thought—but there's so much you can do in those moments to set yourself up for a better return. Think about your strategy and how you can make tweaks or changes that will put you in an advantageous spot when a new opportunity comes your way.

Pass on More Opportunities Than You Take: When you're starting out, you want to jump on every investment. But when you jump on the first one that comes your way, you may miss the better one that came right after it. Learn to pass on more opportunities and wait for the right one. 

Get in the Market: There's nothing good happening sitting on the sidelines. Even if it's scary, get in the market.

Be Like Water: When you get crushed by a wave, don't resist the water, try to be like the water. With bad markets or drawdowns in particular, it's ok to just be and experience it rather than trying to fight it. Get in cash. Sit it out for a little while and trust that it will diminish with time.

What happened this week?

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