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[Ming Pao Special Report] Recently, I have the honor to meet, a figure of God’s class at Wing Chun, Master Leung Kum Tong, who is the first disciple of, King of Biu Tze, Leung Sheung, who was also the first disciple of Ip Man. During the conversation with Master Leung, I learned a lot about the philosophy of Wing Chun, and there are similar points in common with our investment. In addition, last week’s election in Taiwan, Tsai Ing-wen got a record number of votes for re-election, which unexpectedly reminded me of former British Prime Minister, the Iron Lady, Margaret Thatcher, because in some ways, the two of them are quite similar.
Master Leung said that Wing Chun Kung Fu is trained by interaction, if the students are afraid of the pain, there is no training at all. There is no Kung Fu that does not require demanding practice, and they will suffer during the practice process because they would not have armor and other equipment, so if you are afraid of the pain, you will certainly lose.
Before, I did not realize why people practiced Wing Chun against wooden dummies which could not defend themselves at all. Master Leung’s words reminded me that people do this, and they practice Wing Chun with every single move, kick and punch so that they do not feel pain under the constant impact. In the end, their limbs will be as hard as steel bars. When they fight with their opponents, their limbs will not feel pain at all. Ultimately, their limbs will be as hard as steel bars. When they fight against their opponents, their limbs feel no pain. In this way, they can easily knock down the opponent. Just like learning to swim, if one is afraid of being immersed in water or falling from riding a bicycle, one may not learn to swim or ride a bicycle for life.
THE MORE YOU ARE AFRAID TO LOSE MONEY, THE MORE YOU ARE LIKELY TO LOSE MONEY.
As for investment, if you are too afraid of losing money, the chance of losing money will be greater. Because you are often afraid of losing money under psychological pressure, this will lead to wrong judgment. Master Leung also pointed out that the essence of Wing Chun is to subdue the hard with softness and win the strong with weakness, which is definitely not a martial art that fosters a contest of strengths with the opponent. The most powerful of Wing Chun Kung Fu is the Biu Tze, which means attacking the most vulnerable parts of the body, such as eyes, throat, sternum, and lower abdomen. As for our foreign exchange investment, we will not choose any strong currencies to snipe. We will definitely choose the weakest currency in the foreign exchange market to trade instead. In addition to the self-defense Kung Fu that can be used for self-defense, practicing Wing Chun is also a health-preserving Kung Fu, which means that health is wealth. No wonder why so many Hong Kongers and foreigners have practiced Wing Chun in recent years.
Turning to a hot topic last week, Tsai Ing-wen defeated Han Kuo-yu and was re-elected with a record number of votes. If you remember that in the 2018 Taiwanese local elections (Nine-in-one election in Taiwan), the Kuomintang won two-thirds of the local seats. The elections resulted in a substantial defeat for the Democratic Progressive Party (DPP). Tsai Ing-wen immediately resigned from the DPP Chair. However, more than a year later, the election situation has undergone tremendous changes. Tsai Ing-wen, who has no track record, defeated the KMT’s popular candidate, Han Kuo-yu, because of the Anti-Extradition Law Amendment Bill Movement in Hong Kong last year, which reversed the 2020 Taiwanese Presidential Election and even the Hong Kong District Council results.
After the victory of Margaret Thatcher as Prime Minister of the United Kingdom in 1979, with the continuous recession of the British economy and her strong style, she dealt with the trade union with an iron fist, which caused the popularity to plunge. Consequently, she had to face the crisis of being forced to abdicate and step down at any time. Suddenly, Argentina invaded and occupied the Falkland Islands on March 19, 1982. Thatcher did not hesitate to order the British troops to go to the Falkland Islands to declare on the Argentine army. After the British army’s victory and the recovery of the Falkland Islands, the popularity of Margaret Thatcher rose from hell to heaven. In the 1983 general election, she led the Conservative Party to an overwhelming victory and was re-elected as Prime Minister.
The fluctuation of the British pound in Thatcher’s term is also the largest in the history of the pound, with up and down volatility reaching 14,000 points. Since the start of this year, the pound has repeatedly fallen, not as many analysts expected, because the market has renewed concerns about the United Kingdom and the EU’s anti-Taiwan trade agreement and a hard Brexit. Moreover, the economic data released in the UK last week were unsatisfactory. As a result, financial markets have begun speculating that the Bank of England will cut interest rates on January 30. Therefore, the momentum of the economic downturn in the UK is highly obvious that the pound is expected to have downward pressure in the first quarter. Conservatively, under the influence of the above-mentioned negative factors, the GBP / USD has a chance to challenge the two important support levels of 1.2761 or 1.2582. If the UK and the EU are indeed moving towards hard Brexit, the pound may return to the level of 1.2000 against the US dollar.