Wolf Money(portfolio update for end May 2024)part 1
Everton F.C
Everton is a club that I have been supporting since my younger years. It was a love-hate affair. The only joy of supporting Everton was their FA Cup win in 1995, when they beat Manchester United 1 vs 0 in the finals. It had been downhill since the cup win. Everton’s trophy drought stretches three decades, with no sign of ending that jinx. Nail biting, relegation dog fights and financial troubles now plagued the club regularly. The only thing Everton capable of is charging drivers to Everton Park with the highest HDB car parking fees in Singapore. A whopping $6 an hour. 🙃
How I got to like Everton remains a mystery. I was madly in love with the game of football as a young kid. Like everyone else who was playing the game, you aspired to be the Gary Lineker of the world. It helps when SBC channel 12 beamed the weekly games from the English League. Initially, I was wearing a normal t-shirt that looked like an Everton jersey while playing with a few rich kids from a shop selling weighing machines. All of them wore nice Premier League club jerseys. A couple of my footballing gang supported Liverpool and some supported Arsenal. Maybe it was peer pressure. I decided to save up for my first jersey(OEM version). Since blue is my favourite colour, why not an Everton jersey? If I had chosen a different jersey, I wouldn’t have gone through 30 years of agony. In the early 90s, Manchester United wasn’t even in the picture as the top club in England, they were struggling in the league and there was huge pressure on Manchester United, Manager, Alex Ferguson to deliver a trophy, which he eventually did. The rest was history as we know. Manchester United became the most successful club in modern English football. A good club is also a club that is on a firm financial footing. Manchester United was recently voted the most valuable club in the world with an estimated value of USD 6.2b. At the opposite end of the spectrum, Everton face mounting debt of £1b. The club might be heading for administration if they can’t find a white knight to keep them afloat. Football clubs, like any other businesses, need to show a profit to stay in business unless the club is owned by an Arab multi-billionaire. The moral of the story, before one start supporting your favourite club, flipping through the financial report of the club might be a good first step, the same goes for buying shares in any listed company and right down to searching for car parking. It is always beneficial to look at the fine details.
New Prime Minister, old challenges
Congratulations to our new Prime Minister, Lawrence Wong’s ascension to the Premiership. I pray God will give our new PM all the strength he requires to make Singapore a better place.
A general election needs to be held by Nov 2025. We can have long and spirited conversations on climate change, geopolitics and civil liberties, which I think are important issues too, but the key to winning the hearts and minds of the electorates is for the government to get a grip on the cost of living. The best way to gauge is what I term as the “Cai Fan economy”. I recently had a two veg one meat mixed vegetable rice for $6.5. I could get one for less than 4 bucks pre-2020. It was a 60% increase in 4 years. Coupled with a host of other increases in transportation, housing and education. The financial pressures on households are relentless. With the high mortgage rate, successive GST hikes and water tax increases have made it a challenge for many Singaporeans going about their way of life. With the margin for election results getting narrower, there is no time for the government to rest on their laurels. Ultimately, it is the cost of living and the economy that will determines the next government of the day. God bless Singapore.
Part 2 of the portfolio update
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