3 days ago
Karate Kid Legends: Hidden money lessons from the dojo to your wallet
At the Han School of Kung Fu, one lad quietly practices at the Mu Ren Zhuang while his uncle Mr. Han tries to fob off his mom who makes it very clear that she does not like him fighting. And yes, they are moving to New York. The lad, Xiao Li does not wish to move. But has to, because mothers have their own way of saying that New York will help them start afresh.
As in all good Kung Fu movies, you know that the lad will find Kung Fu everywhere. He has to defend himself from school bullies, and baddies in the neighbourhood. His late night fight with bullies who have come to beat up the pizza guy is so legit awesome, you know it's time to indulge in samosas. After all, every time a baddie breaks a bone, it's worth a legendary crunch! Are there hidden money lessons in a Kung Fu-Karate film?
When you were a kid, you bribed your older brother to rent those 'kung-fu-karate' videos because you were too young to watch Bruce Lee or Black Belt Jones. And now, this film actually brings Kung Fu with Jackie Chan and Karate with Ralph Macchio - the original Karate Kid. And when the two legends meet to train a young lad, there is so much fun!
'Kung Fu is better', Jackie Chan says, but Ralph Macchio informs us that in the open 5 Boroughs fight, Xiao Lee will have to use Karate. With every training session - of course there's a jacket-on, jacket-off practice - the lad learns the value of both branches of martial arts. And those of us who grew up watching Jackie Chan and binged on Karate Kid reruns and the TV series called Cobra Kai, we are treated to happy nostalgic scenes.
Thankfully unlike the interminable recap scenes we saw in the last Mission Impossible, we are not given a bad rehash of the glory of Kung Fu or Miyagi Do karate. We just know that both branches of martial arts make for a winning combination.
That brings us to your stock portfolio. Any money manager worth his or her salt will tell you that it is best to have a combination of blue chip stocks as well as everything else (your cyclical stocks, penny stocks, IPO stocks, commodities stocks and yes, defensive stocks). You keep the Blue Chip stocks for the long term, and make short term gains with the others. Hence One portfolio, Two Kinds of Stocks.
At first, you realise that Xiao Li's opponent, the undefeated Connor Day (played with very apt aggression by Aramis Knight) practices at the gym every day, all the time (except when he's bullying Li at school). But Xiao Li has bigger demons of his own to deal with: the fear, the hesitation that makes him freeze when he sees people he likes being attacked.
Not giving any spoilers away, he has to learn to win that battle, before he can take on the bully. Xiao Li knows all the lessons: Kung Fu is everywhere and the lesson made famous by the one and only Bruce Lee: You have to be water…
Easier said than done in real life, no? If you lose money at the stock market the easiest way is to give up rather than invest more money. People will try to bring you down by saying, 'This is not for you!' But as in the movies, you have to first acknowledge that you made a mistake and then pull up your socks and get into the ring once again.
For that, you will need to learn, just like Xiao Li. Read, read, and then read up some more about everything you want to invest in. Not just about the company, but also about where the economy is going, and how political affairs affect the stocks you are interested in. And yes, you do need a sensei: your money manager. Be honest with them and then you will receive good advice.
Just as young Xiao Li learns, you have to be beaten up before you can win. So get up, dust off your losses and get ready to invest again.
After a long time a 95 minute film will see you stepping out of the theatre with a happy smile on your face. Young lad Ben Wang who plays Xiao Li Fong is very light on his feet and his action pieces are a great watch. Yes, you miss fabulous action by Jet Li and Jackie Chan and Ralph Macchio's reluctant karate brilliance, but the guest appearance of Johnny Lawrence (William Zabka) was like a super cheesy sauce on the samosas! The film is like a ray of sunshine after a bad movie after bad movies that have been raining on us…
Manisha Lakhe is a poet, film critic, traveller, founder of Caferati — an online writer's forum, hosts Mumbai's oldest open mic, and teaches advertising, films and communication. She can be reached on Twitter at @manishalakhe.
