Wolf Money(portfolio update for end March 2023) part 1 Titanic
Titanic
The year was 1997 when the movie 'Titanic' started its record breaking journey in the box office. This year is the 25th anniversary since the first screening of the movie. In my opinion, the movie is by far the best movie Hollywood had ever produced, the movie had everything going for it, a strong storyline, good emotion, breathtaking cgi, A list casts and great soundtracks, it was a mind bending experience watching the movie. I admit pouring my soul out in the cinema when I was still a young punk finding my way in life. I was spell-bounded by the movie, I even bought an original movie poster.
I took my curiosity further by visiting the Titanic museum in Belfast, Northern Ireland, the birthplace of The Titanic. Harland & Wolff gantry cranes stood proudly on site reflecting the rich heritage of Northern Ireland ship building history. The movie scene of the ocean liner hitting the iceberg still fresh in my memory even after 25 years.....
As mortgage rates goes through the roof, some mortgagors might find it hard to keep up with mortgage payment and very likely more people will be late with their mortgage payment. What if one is hit with a financial iceberg due to unforeseen circumstances like a retrenchment or incapacitated to work due to accident. I hit some rough patch during global financial crisis. Stock portfolio was down close to 50% and the daily soap opera of huge contra losses in the trading room adds to the pressure. There was one particular warrant trade which I suffered close to a total wipeout. That particular trade had a staggering $xx,xxx loss. It was the biggest loss of my career both on percentage and amount. The amount was huge given I was only a few years into my career as a poor broker.. Yes, you are right, Lone Wolf had some humbling experiences before. It was an ego busting moment.
The usual self reproached followed. Why me? Why the stupidity? Should I quit the industry and try something else? I pondered those questions hard unfortunately there is no quitting as the Captain of your own financial ship. When the ship sunk, the Captain went with the ship. It is a matter of whether I gave my best shot to steer the ship to safety or I sink with my ship. I did the former. Financial issues can be sticky, it is very hard to shake off unless one meet the problem head on with workable solutions to solve the problem. Like any other problem, it is always ideal to solve financial issue when it is small and manageable. You may be wondering why I am sharing this with you. Beside sharing my experience with you, my readers, I hope to share this particular experience in writing with my son once he had grown up, sensible enough to understand how his old man never stop trying to make things better for himself and the family. When one is face with a personal financial crisis, self denial is always the first psychological emotion, realisation came second and self reproached came later. To me, there are only three things ones need to do when a financial mistake is made. First, admit it, second, learn from it and third, move on. Following months of austerity, my financial situation recovered with the rising market. The warrant loss was a conduit for change. I had since steered clear of “gambling” .
In times of extraordinary high inflation, high mortgage rate and a corrective stock market, household finance will be under attack, a financial setback shouldn’t be the excuse for any self harm. Money lost can be earned back but you only live once. It is the challenges we face in life and the overcoming of those challenges that makes life worth living. Jack Dawson aka Leonardo Di Caprio inspirational speech at the dinner table in the movie, brilliantly puts it.
I figure life's a gift and I don't intend on wasting it. You don't know what hand you're gonna get dealt next. You learn to take life as it comes at you... to make each day count.—Jack Dawson in Titanic, the movie.
Here to the resiliency of the human spirit, to make each day count. 🥂
Part 2 coming up shortly.....
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