Year 2022: Photograph of the late Don Stewart and his grandson Monty after a duck shooting session.
As the early morning mist rises over wetlands across New Zealand this opening weekend, hunters will be settling into their duck hide or maimai, waiting for that familiar wing-beat overhead. Patience is as much a tool as any hunting hardware.
While patience in the maimai and careful portfolio management might seem worlds apart, the principles guiding success in both pursuits share remarkable similarities.
Just as you wouldn't head out for opening weekend without your game bird licence (unless you're fortunate enough to own the property), navigating investment markets requires proper credentials and expertise. Working with a registered financial adviser ensures you're operating within regulatory frameworks and leveraging professional knowledge that can make the difference between success and disappointment.
The best hunters I know respect licensing requirements and seek local knowledge. Similarly, the smartest investors understand that professional guidance isn't just about compliance; it's about accessing the expertise to improve your chances of success.
Lesson 1: Don't Hunt Where There Are No Birds
Would any serious hunter head to a location with no evidence of bird activity? Of course not. Yet, many Kiwis commit their hard-earned money to investment strategies with little evidence supporting their effectiveness.
Evidence-based investing, like successful hunting, relies on observation, data, and proven methodologies rather than hunches or hearsay.
Before committing capital, ask your adviser about the empirical evidence supporting their recommended strategy – and for your Statement of Investment Policy and Objectives (SIPO), which is what underpins your investment.
Just as you wouldn't waste opening weekend in barren waters, don't place your financial future in strategies without solid supporting evidence.
Lesson 2: Preparation Determines Success
The most successful hunters don't simply show up on opening day. They've spent months scouting locations, maintaining their maimai, planting cover, feeding the birds and ensuring their equipment is in peak condition. Many have been clay target shooting to sharpen their skills.
Your investment strategy deserves the same level of preparation. This means understanding your risk tolerance, establishing clear financial goals, and developing a diversified strategy designed to weather various market conditions.
Like the hunter who arrives before dawn with decoys perfectly positioned, the prepared investor increases their chances of success through methodical groundwork.
Starting Young: KiwiSaver, Accumulator Accounts and the Next Generation
Taking a young person hunting for the first time isn't just about that day's experience. It's about passing down traditions, ethics, and skills that will serve them throughout life.
The same philosophy applies to financial literacy.
Setting up KiwiSaver and accumulator accounts for young family members and teaching them about investment fundamentals creates a foundation for future financial independence. The old wisdom applies perfectly here: Teach a person to fish (or in our case, to invest), and you feed them for a lifetime.
My most memorable hunting experiences involve introducing young people to the sport. Watching them develop respect for wildlife, hone their shooting skills, safety protocols, and conservation creates the same satisfaction as seeing young people grasp investment principles that will serve them throughout their lives.
Lesson 3: Environmental Considerations (Lead vs. Steel)
The shift from lead shot to steel represents hunting's evolution toward greater environmental responsibility. Today's hunters understand that conservation efforts ensure the sport's future.
In the investment world, Environmental, Social, and Governance (ESG) considerations represent a similar evolution. Just as modern hunters recognise their responsibility to wetland ecosystems, forward-thinking investors acknowledge that sustainable business practices often lead to better long-term performance.
Companies mindful of their environmental impact, social responsibilities, and governance structures frequently demonstrate greater resilience—exactly what you want in both hunting companions and investment holdings.
Lesson 4: Patience and Timing
Every experienced hunter knows that success often comes down to patience and timing. Rushing shots or becoming restless typically leads to missed opportunities. Being prepared early and in your seat to capture the moment. A morning's action is but a few minutes of adrenaline, combined with many hours of inaction.
Investment markets reward similar virtues. While constant activity might feel productive, research consistently shows that patient investors who avoid reacting to short-term market fluctuations generally outperform those who frequently adjust their positions. Sometimes, as in the maimai, the best action is disciplined inaction.
Lesson 5: Don't Put All Your Decoys in One Pond
Seasoned hunters rarely commit to a single location for the entire season. They maintain options across different habitats to adapt to changing bird patterns and weather conditions.
For example, my own location fairs in a southerly wind due to vegetation and the valley layout. When the southerly blows, I'm often joined by another hunter whose pond is more exposed.
Investment diversification works on the same principle. By spreading investments across different asset classes, geographic regions, and sectors, investors can reduce vulnerability to any single market downturn while positioning themselves to capture returns wherever they emerge.
Most Importantly: Safety First, Always
The most successful hunters (and investors) never compromise on safety fundamentals.
No hunting article would be complete without emphasising safety. Identifying your target beyond doubt, handling firearms with appropriate care, and maintaining awareness of fellow hunters are non-negotiable practices in the field.
Investment safety means understanding risks, avoiding schemes promising unrealistic returns, and maintaining emergency funds before pursuing aggressive growth.
The Reward at Day's End
After a successful day in the field, there's nothing quite like enjoying the fruits of your patience and skill. Like many passionate hunters, I believe game should be respected through proper preparation. For those interested, my favourite pheasant and duck recipes - perfect after a successful hunt - are mentioned below. (Many thanks to my friends and family for their permission to share!)
Similarly, a well-executed investment strategy provides its own rewards: financial security, achieved goals, and the satisfaction of seeing patience and discipline bear fruit.
As you head to your maimai or favourite upland location this opening weekend, consider how the wisdom that makes you a successful hunter might also guide your financial future. Both pursuits reward those who prepare thoroughly, act with discipline, and maintain respect for the endeavour.
Happy hunting - in the field, and in your financial journey.
Nick Stewart (Ngāi Tahu, Ngāti Huirapa, Ngāti Māmoe, Ngāti Waitaha) is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington based CEFEX & BCorp certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver scheme solutions. Article no. 405.
The information provided, or any opinions expressed in this article, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from a Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz
