This past Valentines Day Elizabeth and I spent some serious time on the couch, spending time together and watching Humphrey Bogart and Ingrid Bergman in Casablanca. The story is a classic: intrigue, love, corruption, and the old double cross.
This past Christmas would have been the 110th birthday of Bogie, and the movie Casablanca was a turning point for his career. It won an Academy Award nomination (unfortunately, not an Academy Award winner) but was voted Best Motion Picture of 1943. Bogart was not the first pick for the lead role of Rick Blain: it was first offered to Ronald Reagan, who turned it down. George Raft was the next pick, who also declined. Bogart, who up to this time was known but not a major leading man, decided to accept it as a drama and love story. Other known actors that were offered parts but declined were Heady Lamar and Michelle Morgann, well known actors of their time.
“That’s nice”, you’re thinking…but what does this have to do with financial planning? Plenty, if you read between the lines…
Reagan, Raft, Lamar and Morgann all read the script, analyzed the story, and turned it down after carefully evaluating the value of the offer. How many times have you been offered a “hot tip” and plunged right in before carefully looking at the company, offer and financials? (Come on…you know you did!) They walked away and passed…did you?
The cast of the movie was quite diverse from a geographic standpoint:
- Humphrey Bogart was American
- Ingrid Bergman was from Sweden
- Paul Heinreid came from Austria
- Sydney Greenstreet boated over from England
- Conrad Veidt originated from Germany
- …and the famous Peter Lorre flew in from Hungary
It took an international cast to produce one of the most famous movies and stories of all time. Could the producers and directors have found an all American cast? Probably- but I doubt the movie would have had the same impact and legend. Back to financial planning…how many international investments (1) do you have in your portfolio? I am by no means advocating how and what you should be investing in- just that there is more to the investing world that that which is in your backyard. One country is raising rates while another is dropping. Unemployment differs, as well as production and imports. Each country is an independent entity, and although the world markets are linked, America included, they don’t all move the same over the course of time. The domestic and international markets and economics are incredibly diverse: do your homework and consult with your advisors as you allocate your portfolio.
Here’s lookin’ at you Kid…
(1) International investments may involve risk of capital loss from unfavorable fluctuation in currency values, difference in generally accepted accounted principles, or economic and political instability in other nations.
