He could "float like a butterfly, sting like a bee." He became one of the best known Americans around the globe. He was Cassius Clay. He was the Louisville Lip. He is the Greatest of all Time. He is Muhammad Ali.
As a boxer, he's among the best who ever slipped on the gloves. He won the gold medal in the 1960 Olympics, held the Heavyweight Title three times, and finished with a record of 56-5. And because he mattered boxing mattered, when he fought the whole world stopped to watch.
By 1974 he had been fighting for 16 years, and at age 32 he was a fading king of boxing. But his promoter, Don King, managed to raise a $10 million purse (from the brutal dictator Joseph Mobutu of Zaire) to be split equally between Ali and the reigning heavyweight champion of the world George Foreman. One more fight -- The Rumble In The Jungle.
Ali was a major underdog, as many commentators felt he was at the end of the road. Foreman was bigger, younger, and stronger. He had never lost, and had knocked out 37 of his 40 opponents. His last eight fights had all ended in less than six minutes, and he destroyed both Joe Frazier and Ken Norton, the two men who had beaten Ali.
Ali and Foreman couldn't have been more different. Ali embraced the people of Zaire, and they embraced him chanting "Ali Boma Ye" which translated into "Ali Kill Him." Foreman was surly and uncommunicative and quickly lost the PR battle. Ali claimed that Foreman fought like a Mummy and that he would dance circles around him.
The weather for the fight was oppressive, the heat and humidity stretched the ropes around the ring and made the mat feel like a sponge. Ali's camp worried that he wouldn't be able to dance in such conditions. The fighters entered the ring at 4:00AM, to allow satellite feeds in the US to be shown prime time.
At the opening bell Ali attacked Foreman with a quick flurry of punches, but then Foreman connected with a couple of his own sending Ali into the ropes where Foreman continued to punch him. Between rounds one and two Ali lead the crowds in chants of "Ali Boma Ye!" He spent the entire second round leaning on the ropes, which by now were very slack. Ali slumped back into the ropes to ride Foreman's punches, absorbing a lot of them on his arms and gloves. Ali's manager, Angelo Dundee, was unaware of Ali's plan and urged his fighter to start dancing. Ali ignored him, and in the third round returned to the ropes to be abused by Foreman.
Whether Ali devised his rope-a-dope strategy prior to entering the ring, or whether it came to him shortly after getting hit hard in the first round, we may never really know. Somewhere along the road Ali sensed or knew he was facing a "Paradigm Shift". He was up against a superior opponent and that ultimate opponent, age. His old strategy of floating and stinging wasn't going to work any longer, he had to adapt and adapt quickly.
The crowd was restless watching Ali clearly getting beat. As Foreman continued to pummel him, Ali began to taunt him "Is that all you got George? You disappoint me. My Grandma punches harder than you do...you supposed to be bad..." After two more rounds Ali's strategy was becoming clearer. In the hot, humid night, Foreman was sucking at the heavy air. Ali continued to taunt him and Foreman kept coming. Foreman slumped on his stool after the bell, he had not fought for more than six minutes in a very long time. In contrast, Ali hardly bothered to sit down.
In rounds six and seven Ali continued to absorb punches, but then opened up his gloves and said, "George, now it's my turn," and unleashed a flurry of stinging shots. Foreman's swings became desperate, and in the eighth round he lunged at Ali and staggered forward with the momentum of his punch. Ali sprang from the ropes, landing two beautifully timed straight right hands, a concussive left hook and a last perfect right hand. Foreman flapped at him and then fell in a slow pirouette. As the count reached 10 Foreman could only half stand and the fight was over.
The rope-a-dope was such an audacious strategy; some would say desperate, others genius, but what really mattered was that it worked. I was an impressional 14 year-old when I saw this fight and boy did it leave an impression. I like to think that one of the main reasons so many have loved Ali was because he was a winner. He could find a way to win, he could adapt. He gave us hope, that in the face of insurmountable odds, you have the power to change, to adapt, to win. This is one of the reasons I don't just sell everything, move to the country, buy gold, guns, barbed wire, and canned goods. Deep down inside me I believe that we can figure a way out. We have a very adaptive society, and a great survival instinct, but sometimes we need to be pushed to the brink before we figure it all out.
It may be happening now. Many American's feel that the government is spending/spinning out of control and they've had enough. Some have joined the Tea Party movement (taxed enough already), while others are just letting their elected officials know that their days of public service are numbered. And those wily ole politicians (the ultimate adapters) are starting to sense the "paradigm shift". Last Saturday President Obama pleaded with congressional leaders to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police, and firefighters" and to support the still-fragile economic recovery. His appeal is aimed primarily at members of his own party, where there seems to be "spending fatigue" (and reelection fear). While the President wants urgent action, the Democrats don't have the votes and have asked for at least another week. We'll see.
Yes, the 53% of American's that pay taxes are tired of playing rope-a-dope. Tired of getting hit again, and again for more $$. Tired of getting 0% on the little they can save. But while they may be tired, they are not dead. They are finally ready to bounce off of those ropes and inflict a few jabs of their own. Yes, I like to think that this battle is just beginning, and while we may no longer be able to "float like a butterfly" we can adapt, and find a way to win.
Please watch the attached video, it will take you back:
For more on Ali, check out "King of the World: Muhammad Ali and the Rise of an American Hero" by David Remnick.
Be careful out there,
Chris Wiles
This article contains the current opinions of the author but not necessarily those of the Rockhaven Capital Management. The author’s opinions are subject to change without notice. This article is distributed for informational purposes only. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.
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