April 8, 2025

A Tradition Unlike Any Other

In a sure sign that spring is fast approaching, the 2025 Masters Tournament is just around the corner. For rabid golf fans, the Masters is the must-see tournament of the year, and for the truly devoted, it may even involve a pilgrimage to Augusta. Whether you are watching it in person, or on TV, the Masters never fails to deliver compelling viewing as both the golf and the atmosphere are nothing short of world-class. The Masters Tournament is more than just a prestigious golf event though - it’s a mix of traditions and oddities that make it one of the most unique sporting events in the world. From its exclusive customs to the unexpected details that unfold behind the scenes, it’s a tournament where tradition blends with playful quirks.

“What goes with a green jacket?”

The green jacket itself is a symbol of victory at The Masters, but it has an interesting tradition. When the winner is crowned, they don’t walk off with the jacket right away. Instead, it’s ceremoniously placed on their shoulders by the previous year’s champion. But they can’t wear it home. Instead, the green jacket stays at Augusta National. That means the winner only gets to wear it while they’re on the grounds. It doesn’t matter who you are, once you leave Augusta, you have to hang up your jacket in the clubhouse. The jacket’s only purpose is to be worn when you’re at the tournament, making you part of an exclusive club that only a select few have access to.

Winner buys…wait, what?

One of The Masters' most intriguing off-course traditions is the Champions Dinner, held the Tuesday before the tournament kicks off. The dinner is a private gathering for past Masters winners, and it's hosted by the reigning champion. The menu is a secret until the dinner begins, but there’s a twist that always makes headlines: the food choices. Some champions choose high-end delicacies, while others surprise everyone with simpler fare. For example, past winners like Bubba Watson and Tiger Woods have served up American classics like cheeseburgers, while many internationally acclaimed players have often gone with more elaborate dishes from their home countries. The dinner is less about the food and more about the camaraderie of the champions, but the secrecy and variety of the menus make it a unique custom

“May I see the menu, please?”

One of the most unusual traditions at The Masters is the pimento cheese sandwich. This humble, Southern treat—made of pimento cheese, mayonnaise, and white bread—has become a symbol of the tournament’s charm. For a place where everything is polished to perfection and every detail is meticulously planned, the pimento cheese sandwich stands out as a simple, unpretentious offering. What’s even more surprising is the price. At just a few dollars, it’s one of the most affordable things you can find at Augusta National, a stark contrast to the prices of luxury golf apparel or a round of golf at the club. Fans eagerly line up for these sandwiches and eating one has become a rite of passage for anyone visiting The Masters.

“Can you hear me now?”

In a world where almost everything is captured by smartphones, one of the most surprising oddities of The Masters is the strict no-phone policy. At Augusta National, you won’t see fans texting, tweeting, or snapping selfies while walking the course. Phones must be kept in silent mode, and they’re only allowed in designated areas. It may seem old-fashioned, but it’s part of the tournament’s commitment to maintaining a serene and focused atmosphere. The no-phone rule also adds to the old school vibe, where fans are encouraged to experience the event without distractions. There’s something refreshing about being forced to put down your phone and immerse yourself in the beauty and intensity of the tournament.

“See you later, alligator”

If you've ever watched The Masters on TV, you’ve probably noticed the commentary is calm and soothing. But there’s an oddity behind the peacefulness of Augusta National: the ever-present sounds of the local wildlife. The course is home to deer, foxes, wild turkeys, snakes, and hundreds of species of birds. In fact, dozens of custom made birdhouses are carefully placed around the course in an effort to attract specific birds to specific holes making for an almost sanctuary-like atmosphere. As much as the course tries to draw in wildlife, it also keeps certain critters at bay. For example, the groundskeepers at Augusta have deliberately fashioned ponds and other wetlands to deter alligators. If one is spotted, they bring in experts to relocate the interloper in the name of player and spectator safety.

The Masters is more than just a prestigious golf tournament—its traditions and quirks offer some valuable lessons for investors. Like The Masters, the world of investing is built on a foundation of time-tested principles and strategies. Just as the green jacket symbolizes membership in an exclusive club, successful investing often requires a long-term commitment to strategy and patience. In both cases, results aren’t instant. The champion doesn’t take home their green jacket immediately, and investors know that solid returns come with discipline and time.

In a similar vein, Augusta National keeps distractions at bay—whether it’s the no-phone rule or keeping alligators away from the course—investors are also advised to block out distractions. In a world where news cycles can drive market sentiment, staying focused on long-term goals is essential. The Masters' environment encourages fans to experience the game without distractions, much like how investors need to tune out daily volatility of the market and focus on the bigger picture for long-term investment success.

As we watch the best golfers in the world compete at The Masters, we’re reminded of the importance of preparation, composure, and long-term strategy—principles that are just as valuable in investing. While market volatility may cause short-term challenges, staying focused on your goals and making informed decisions, like a golfer on the green, is key to achieving long-term financial success.

The article above is an excerpt from the Q3 Quarterly Market Commentary. Here is a link to the most recent issue. Complete the form below if you would like to get this emailed to you each quarter.