If you’d asked me what I wanted to be when I was a child, the answer would have been simple: a cricket player. As I sat glued to the TV set during the 1980s watching the best players in the world, it was my dream to emulate the greats of the game.
Instead, for my sins, I’ve ended up working in investment management for the past three decades; although I still have an avid interest in cricket and, just as importantly, I try to apply the lessons from my youth every day.
You see, Test cricket, like investment management, is a game of consistency, discipline and process as much as it is of talent and timing.
Consistency wins
Growing up on the hard, dry wickets of Western Australia, I learned the art of medium-paced bowling. I’d practise for hours trying to hit a small target – about 20 metres away. The lessons were often simple: ‘line and length’. Through this and through the teaching of wonderful coaches, I learned that consistency of process is generally linked to consistency of outcomes.
The best bowlers in the world are not always the fastest or the most flamboyant, but those who are the most consistent. From Australia’s Pat Cummins to England’s James Anderson, the great bowlers have been renowned for their ability to continually take wickets through relentless control.
This same principle can apply to investing and portfolio management. Over decades in the field, I’ve seen that those with a consistent process and strong risk management are usually the ones who stand the test of time. Not necessarily chasing the highest-yielding asset but focusing on consistency and quality of the asset.
Line and length
In cricket, the difference between a good bowler and a great one often lies in the ability to hit a disciplined line and length repeatedly, even when the wicket is flat, the batsman is set, or the fielding team is under pressure.
In asset management, line and length are important too:
- Line represents direction: in our world, experienced people, consistent processes and risk controls.
- Length reflects depth: the underlying fundamentals and quality of the asset.
At the same time, truly great bowlers also have an innate ability to put the ball on a 20-cent piece – or for those not familiar with the lingo, to land it half a metre or so outside the off stump. This is called the ‘corridor of uncertainty,’ and the aim is to tempt the batsman into playing a shot where there is a high risk of getting out.
Like the corridor of uncertainty in cricket, investing is about disciplined execution. You maintain your line and length; you don’t change your bowling action mid-match just because the pitch behaves differently. You may adjust your field placement (in portfolio terms, tweak the exposures) but you don’t abandon your fundamentals.
Deviating from that zone – for example, chasing higher yields – risks poor outcomes. The discipline is to keep investing where you have confidence and insight, not to wander into high-risk or unfamiliar territory.
Playing the long game
At Thinktank Asset Management, our disciplined approach has led to consistent outcomes for clients. Over 19 years, we’ve settled more than $16 billion in loans and have $8 billion in assets under management, with zero investor losses, reflecting the strength of our credit assessment and portfolio construction.
Test cricket rewards patience, resilience and an unwavering commitment to process. You can’t win a five-day match in a single over, and you can’t build a resilient portfolio overnight.
Success in investment management isn’t about the occasional spectacular delivery, but about line, length and consistency over the long innings.
It’s a privilege to apply that same mindset each day, helping individuals, professionals and families build financial security that lasts.