by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc
Around this time of year I become a rugby parent. I realize at this statement that some of you will be calling the authorities, shocked that as a parent I would let my kid play such a sport. My girls love it, and yes, while they do get dinged up a bit, they learn valuable lessons about hard work, overcoming challenges, and what it means to go through experiences as a team. It is a truly awesome sport, and I only wish I was a few years younger.
The other thing I wish is that a sportswear company would come out with a line of clothing for rugby spectators – particularly the parents who need to stand on the sidelines and cheer on their offspring. At a typical rugby tournament (and this week is no different), you need to prepare for hot sunny days, rain and even snow! After loading the car with Super-Soakers (long running team rugby tradition – too complicated to explain) and the different types of cleats, and practice rugby balls, there is barely room left for the different types of outwear required for the parents. Now it becomes a risk management exercise in what exactly the weather will be.
Some parents plan for the worst and just assume the weather will be cold and snowing. They pack a parka and winter boots. Others assume a different doomsday scenario which is rain – which could be warm rain, or cold rain – and thus requiring different clothing strategies. Others hope for the best and hope for warm breezes and just bring sun screen.
Finally you get the risk averse who bring a separate vehicle simply to carry the different types of outerwear that may be needed. This of course involves extra costs – a hedging cost if you will.
The whole exercise in picking your clothing for a rugby tournament is a lot like deciding on the type of hedging program that a company will pick. You can plan for the worst, the best, or everything, but the more diligently you try to cover every possible scenario, the more expensive it becomes.
Meanwhile the kids just play with no regard to the weather. The benefits of youth!
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