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Phantom Punch

April 21, 2012

PHANTOM PUNCH

December 30, 2009

by Edmund Lao

http://www.businessmirror.com.ph/home/opinion/20987-phantom-punch-.html
Phantom punch (as defined in wikipedia) is a punch of the fist that is not real, for whatever reason, to which there is a reaction as though it were, such as the final blow, according to ringside spectators who did not see it, in the 1965 rematch between Muhammad Ali and Sonny Liston. Almost nobody could believe that an unclear short, counter right from Ali would knock out easy the durable beast in Sonny Liston. Nonetheless, whether it was really fatal or not, its place among the greatest knockouts in boxing history is well secured.

As with our very own Manny Pacquiao, the secret to his KO power lies on his vaunted phantom power punch. This phantom punch is not an unreal punch but rather an authentic punch that was too fast to be avoided He used an angle to most of his victims in such a way they CAN NOT see it coming.. Speed kills only when orchestrated by a master.

Some information from his previous fights is shown below:

Pacquiao – Cotto

Cotto said that Pacquiao is one of the best boxers of all time. He also admitted that he didn’t actually know where the punches came from.

Pacquiao – Diaz

After the bout, Díaz acknowledged Pacquiao’s superior hand speed, stating: “It was his speed. It was all his speed. I could see the punches perfectly, but he was just too fast. I never saw the killer punch—prefaced by a head-snapping jab—coming. He boxed more than I thought he would box. No excuses.”  He also said that he thought he saw four Pacquiaos in the ring with him. Such is the power of his speed.

Pacquiao – Hatton

Pacquiao said he would prefer that Hatton would fight him toe-to-toe because they have the same style. He said he would need to be careful to avoid the enemy’s phantom punch. Come fight night, in a simple twist of fate, with less than ten seconds remaining in the second round, Hatton was knocked out cold by a phantom punch characterized by  a quick, sharp left hook,  prompting the referee to award Pacquiao the win by knockout.

Speed, rather than power really kills. With speed comes power. As taught in Physics, the greater the speed (velocity), the greater will be the momentum. With great momentum, the damage created by the impact is also great.

If there is a phantom punch in boxing, it holds true there are also phantom punches in our life, especially with regards to personal finance, in which a greater part of our population is unaware. Usually, years later (as in boxing, rounds later), they get knocked out without knowing what happened and why it happened. Everyone can avoid being knocked-out financially if there is preparation. As the saying goes, “the best time to prepare for a catastrophe is when there is none”.

In boxing, preparation takes two to three months for a fighter to be physically fit for a bout. Included in the training are diet, weight control, discipline, exercise, sparring, and most importantly, stamina. Stamina will determine if the boxer can last the distance or not. Conclusively, those who get knocked out early sure did not have enough stamina and preparation. In the same way, in our finances, we need to have the proper training and stamina in order to survive or win the bouts that are still to come. Instead of receiving the phantom punch in our financial life, we can either dodge or block it and instead be the one to release it to our financial adversary.  If Ali was able to identify his fierce opponents’ strength/weakness, then strategize using the “float like a butterfly, sting like a bee and rope a dope” technique to beat them, we can also plan in order to outmaneuver our financial opponent.

To illustrate, I will discuss only two financial phantom punches, namely inflation and scams and how to deflect them:

1, Inflation: Inflation is the silent killer of our hard-earned money. We can never see it but we can feel the effect. Inflation is the loss of value of our money, brought about by the rise in price of everyday goods due to more demand than supply. The peril of ignoring inflation is realized on retirement day when the money saved outlives and financially knocks out the retiree.

To combat this, the following are suggested:

–         increase your income in order to keep pace with price increase and at the same time, build retirement fund.

–         Spend less on wants to reduce demand. Buy only your needs.

–         Buy items on discount/sale. This is true especially for investments. As an example, I buy old pre-need plans (of reputable companies) at a low price from the original owners who want to pre-terminate their investments.  The yield is much better and reaches 25% per annum. At the same time, I have extra insurance coverage..

–         Look for a higher yielding investment vehicle. It may be in the form of real estate, stocks, UITF, mutual fund, offshore investment, currency trading, etc.

2, Scams:  Scams come and go but people never learn. Scams come in different forms, and people are just willing victims. Most of the scammers play on their prospect’s emotion. Due to desperation (for lack of money due to bad money management) and greed, they fall for the trap laid on them. When reality sets in, it will be too late. Scammers also play reverse psychology to pressure people into joining them. They will even discourage you to make financial plan and tell you savers are losers. With great speed like that of Pacquiao, they easily recruit people, and laugh their way to the bank.

Below are ways to sidetrack scammers:

–         Check with government agencies like SEC/DTI the legality of their existence as always stressed by RFP Alvin Tabanag.

–         Check if they have physical office. Check with property manager how long they have been there. There are many fly by night companies that rent office only for a short period of time.

–         Ask for company profile and financial statement. Since it is your money they want, you have the right to ask for supporting document.

–         Do credit/character investigation. Make it hard for them to get your money.

–         Never deal with internet-based investment offers.

–         If the offer is too good to be true (example 5% per month), then it is not true.

–         Most importantly, always guard your emotion and never let it get the better of you.

With the proper information, one is prepared to face the phantom punch, repel it and with wisdom, defeat the foe. Knockout!.

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