Exactly 41 years ago on 30 Oct 1974, a historical boxing event took place in Zaire (now Congo). It was the world heavy weight championship nicknamed "The Rumble in the Jungle" between two of the greatest boxers of all time – then 32-year-old Muhammad Ali and 25-year-old George Foreman.
George Foreman was the undefeated champion and overwhelmed favorite to win the match. He was the most intimidating fighter then with punches that KO veterans champs such as Joe Frazier and Ken Norton, both of whom beaten Ali before.
During the match, the underdog Ali adopted “Rope-A-Dope” technique, leaning on the rope and choosing to defend and shield. Foreman will then throw his heavy punches in all directions without much accuracy, and each time when he tires down, Ali will find seize opportunity to counter punch with precise accuracy.
After 8 rounds and wearing out his younger opponent, the older and wiser Ali will need just ONE OPPORTUNITY to knock Foreman out, and became the first and only person to ever stop him.
The underdog Ali won with a well-planned strategy - be patient, conserves energy and wait for opportunity to strike with precision and perfection.
Just like when stock market is hitting highs. Have a plan and get ready a watchlist and warchest. Be patient and deploy only when the right pricing/value arises. It is also the same in life. Do not be too eager for success in a short time. You ought to have the patient for success to evolve over time, slow yet sustainable.
Foreman was defeated at the highest point of his career by Ali and would later retired from boxing three years later when Jimmy Young defeated him in 1977.
It taught us to remember that the highest point in the stock market (or life or career) is always the most dangerous if we are arrogant and complacent. This is the point where you think as if you are on top of the world and as fast as you climb to the top, you will tumble even faster down to the floor.
While the fall from the top can be really painful, it should be a significant event for us to seriously reflect our mistakes and become wiser and smarter the next time.
Looking back for me, the low point in my life is actually the high point in my life, because this is the time when I learn the most. It can sometimes also prove to be the turning point of our life and we will then make significant changes to improve afterwards.
George Foreman made a comeback 10 years after he retired and will later become the world heavy weight champion at the age of 45. Not just that, he also become an entrepreneur and founded the George Foreman Grill which will then go on to sell more than 100 million units.