“Pre-Ride” Morning Routine

All of us are aware that kids need a routine to provide structure and discipline in their lives. As we grow older, though, many of us view having a routine as being boring, rigid and stifling. Adults often equate a routine with a lack of freedom, independence or even creativity.

On the contrary, I have learned that designing and adhering to a personal daily routine is actually a path to freedom and improved performance. Just as our family performs a pre-ride cycling routine (e.g., filling up water bottles, checking air pressure in the tires, applying sunscreen, confirming the kit bag) so that we know we are prepared for common cycling challenges (e.g., getting thirsty, taking in a lot of sunshine) and therefore can focus on having a successful ride—investors should perform a pre-market routine to start the day, choosing a routine that works for them.

Why? There are too many reasons to count: greater efficiency, reduced needed for planning (you’re already executing), quicker speed to achieve your “flow”, reduced stress—especially during periods of greater uncertainty and market volatility, improved execution, reduction in bad habits and errors, heightened proficiency, greater ability for prioritization, building of momentum and self-confidence….to name a few. A quick online search will provide data-driven lists from a variety of qualified experts. After twenty-five years, though, I have experienced enough personal data points to know that investment results suffer without completing a morning routine. Perhaps more importantly, we know it is common sense—just not always fun or easy.

So, what does one example of a morning routine look like? Given our location on the West Coast, my morning routine starts with waking up early, at 4:45am. Before you stop reading, I am not advocating that everyone get up that early. It is just a fact of life because of where we choose to live. Plus, because many European markets are still open, and the US market opens at 6:30am Pacific time, it allows for sufficient time to make investment decisions and trades, if needed. Other than our puppy, who as my “shadow” remains by my side, everyone else is asleep. In the dark, I gather charging electronics and clothes I hope will match. Then, for the next step, I shower and get ready in a remote area of the house where I won’t wake anyone up. Depending on whether I will work from home (as during the coronavirus remote work period) or head into the office, I will either make or grab a cup of coffee and a bite of protein, plus fill up my water bottle. That entire process takes about 20 minutes, give or take a longer morning hug with our puppy. After that point, during the next 60-90 minutes (depending on whether I have the 30 minute commute or not), I am focused on an investment routine: reading key overnight news about global markets and securities of interest, noting any major price movements of international securities in our portfolios or pipeline list, studying charts of updated macroeconomic data, scanning email for anything critical and time sensitive that needs to be prioritized, and confirming the calendar for the day and the subsequent few days. I know what I need to do, right when I sit down. As a fast, focused reader, this routine enables me to feel ready for the day—and perhaps more importantly—actually be ready for the day.

But I am one data point, and each investor needs to determine what makes them ready. Otherwise, your routine may be insufficient or even destructive to your day. For example, my first daily steps need to incorporate the important fact that everyone else in the home is asleep, along with the accurate assumption that I want to maintain good family relations! During the final moments of a live radio interview, a Bloomberg anchor surprisingly asked me to quickly state if I make my bed in the morning, and I honestly answered “No”. That’s right. I get out of bed and don’t look back. Ever. I think he was shocked and embarrassed for me at my answer. While I am sure sleep experts and psychologists listening to that broadcast immediately boxed me into a category of lazy people without attention to detail, the actual process of making my bed would mean that I would wake someone else up, and that would be a bad outcome in my book. One person’s routine should not destroy someone else’s chosen daily routine, and it should focus on what matters most. Well-rested, happy family members are more important to me than an organized bed, and they allow me the freedom to continue my own non-traditional routine. So, no judgement. Find your own routine.

Of course my routine rests on the fact that I have incorporated technology and built various tools to focus my attention on what matters most, so that I can create the most efficient morning routine, elongate sleep time, and perform consistently at, hopefully, a high level. While I always had built investment tools to make my work routine easier, as I got older, I realized that personal technology also is important to keeping me on a solid path. Devices such as an iWatch and an Oura ring have made it easier to set reminders on when to sleep and when to rise, to track activity goals, and to measure the quality of sleep we get—all important factors that support a solid morning routine. Over time it has become clearer that the mosaic of choices we make are very important, and technology can assist in improved decision-making. The combination of skipping a workout, drinking a second glass of wine, and blowing through a bedtime to finish a movie with the kids increases the likelihood that we will want to delay getting up to accomplish a full morning routine on time and with focus. We won’t be truly ready for investing. Technology helps us make better choices to prepare for the morning routine. Think of it as a pre-ride for the pre-ride routine. It sends notifications that we are behind in our workout, that we need to get ready for bed 30 minutes beforehand, and that our body needs improved sleep to stay on track. So, we make better decisions. We fit the work-out in. We pause the movie for tomorrow. We only pour an extra “splash” of wine in our glass, not the full second pour. We get up eagerly on time.

What is in your “pre-ride” routine?