In the demanding environment of professional investing, maintaining a steady hand during market dislocation or firm-level stress isn’t just about having the right data or strategy—it’s about how you interpret the moment. A fund manager’s outlook under pressure can color every decision, from capital allocation to team dynamics. So what separates those who pivot with energy from those who stall out? New research points to an unexpected but critical edge: playfulness.
Far from being frivolous, playfulness—as a stable personality disposition—can act like a cognitive and behavioral redirector during adversity. In a large-scale study conducted during the height of the COVID-19 pandemic, researchers Shen and Crawley examined how adults high in trait playfulness responded compared to their less playful counterparts. The findings are quietly profound for anyone navigating high-stakes environments.
What emerged wasn’t a naïve optimism. Both high- and low-playfulness individuals had similar perceptions of risk and protective measures. But playful individuals were markedly more optimistic about the future. This wasn’t denial; it was a selective spotlight. When facts were fixed, both groups saw them clearly. But when imagining what could come next—when ambiguity reigned—the playful framed the unknown as a domain of opportunity. They engaged in what the researchers call “lemonading”: creatively pursuing positive possibilities without losing grip on reality.
Just as crucial was what this mindset enabled. High-playfulness individuals didn’t merely feel differently—they acted differently. They reported higher levels of resilient coping and adaptive engagement, such as restructuring their routines and actively seeking outdoor spaces to sustain wellbeing. Importantly, this wasn’t about doing more—it was about doing with more depth. Even when the types and frequencies of leisure activities were held constant, playful individuals reported greater immersion, energy, and positive emotion during those activities.
So what does this mean for decision-makers under pressure?
- Reframe Forward, Not Flat: Playfulness doesn’t distort current reality—it energizes the outlook. Use it not to soften the facts, but to open up creative angles when facing a murky future. This is about building optionality in your thinking without abandoning discipline.
- Act Through Adaptation: When constraints tighten—think policy changes, team disruption, or personal stress—playful individuals redirect their energy through adaptive behaviors. Try asking yourself: How can I do this differently? Not more, just better suited to now.
- Invest in Quality of Experience: The real differentiator wasn’t what people did, but how they experienced it. This principle applies beyond leisure—into meetings, analysis, even execution. Presence, joy, and energy aren’t nice-to-haves; they’re performance variables.
Playfulness, then, isn’t the opposite of seriousness—it’s a sophisticated lens for resilience. Not everyone is naturally wired for it, but it can be cultivated. The next time you’re navigating uncertainty, consider not just your model or memo, but your mental framing.
Reflection Prompt: When facing uncertainty, do you tighten your grip—or shift your frame? What would “lemonading” look like in your current challenge?
Reference: Shen, X., & Crawley, Z. (2025). How does playfulness (re)frame the world? Evidence for selective cognitive and behavioral redirecting in times of adversity. Frontiers in Psychology, 15, 1462980. https://doi.org/10.3389/fpsyg.2024.1462980
