Action Park

Action Park, a name that still strikes a mix of nostalgia and terror in those who remember it, was no ordinary amusement park. Nestled in Vernon, New Jersey, it earned the infamous nickname “Class Action Park” for good reason. Opened in 1978, Action Park boasted attractions that ranged from thrilling to downright dangerous. For many, it was a dreamland of unregulated fun—where riders had more control over their experience than they should have. But beneath the surface, a darker truth lingered: Action Park’s legacy would be marked by lawsuits, injuries, and even death.

Gene Mulvihill, the park’s ambitious owner, believed in giving visitors a kind of autonomy rarely seen in the amusement world. His philosophy was that rides should push boundaries and allow for freedom, giving guests the chance to test their limits. This Wild West approach, however, neglected one very crucial element: safety.

Among the most notorious attractions was the Cannonball Loop, a waterslide that defied common sense. The ride featured a full 360-degree loop, something never before seen in water parks. Early on, testing involved sending dummies down the slide—and those dummies often emerged in pieces. In one test run, a water tester came out missing teeth, only for park employees to later find those teeth embedded in the padded walls of the loop. Despite these warning signs, the ride opened to the public. Visitors who dared to try it frequently found themselves injured, bruised, or worse. The loop was eventually shut down after only a brief run, but not before racking up a series of horrific injuries.

Then there was the Alpine Slide, perhaps Action Park’s most infamous ride. Riders sat on small, sled-like carts, controlling their own speed as they zoomed down a narrow, concrete track. Theoretically, brakes were installed to control speed, but many carts lacked functioning ones. Riders would often fly off the track at high speeds, skidding across the unforgiving concrete and sustaining severe burns, scrapes, and fractures. The slide claimed at least one life when a guest flew off the track, struck his head on a rock, and tragically died from his injuries.

Tidal Wave Pool, ominously nicknamed “The Grave Pool,” was another staple of the park’s reckless approach to amusement. The enormous wave pool, designed to simulate ocean waves, was a chaotic mess of thrashing bodies and unmanageable conditions. Lifeguards, tasked with patrolling the pool, were overwhelmed, often rescuing dozens of people on any given day. The water was so turbulent that many swimmers found themselves panicked or caught in the waves, unable to reach safety. The pool, combined with overcrowding and a general lack of oversight, claimed multiple lives during the park’s operational years.

The Tarzan Swing, a seemingly innocent rope swing, added yet another layer of danger. Guests would grab hold of a rope and swing out over a pool of freezing cold water, dropping in when they felt ready. The shock of the icy water often caused guests to panic, leading to numerous rescues and injuries. One guest suffered a heart attack after plunging into the frigid water, adding to the park's list of tragic incidents.

Despite these dangers, or perhaps because of them, Action Park attracted thrill-seekers who reveled in the park’s reputation. But as the injuries mounted, so did the lawsuits. Between the early ‘80s and early ‘90s, the park faced numerous legal challenges from injured guests and the families of those who lost their lives. Mulvihill’s insurance company, it turned out, was a fraudulent operation he created to cover the park’s costs. When that scam unraveled, Action Park’s fate was sealed.

In 1996, amid mounting legal and financial troubles, Action Park closed its doors. But the damage was done. By that time, it had become a cultural touchstone for a dangerous, almost anarchic approach to entertainment—one that pushed limits without considering the consequences.

The story of Action Park is a cautionary tale of what happens when risk is embraced recklessly. Mulvihill’s philosophy of freedom and thrill came at a cost—lives were lost, people were injured, and the business ultimately collapsed. While the park may be gone, its legacy endures as a reminder of why careful risk assessment is so vital.

Now, let's bring that lesson into the world of personal finance. Just like Action Park's visitors who lined up for Cannonball Loop or the Alpine Slide without fully understanding the risks, many investors dive into financial decisions without properly evaluating their tolerance for risk. Investing, much like amusement parks, can be exciting. It can offer thrilling opportunities to grow wealth, but without proper planning and understanding of risks, the consequences can be disastrous.

Imagine riding the Cannonball Loop with no idea of whether the ride has been properly tested. Would you trust it? Yet, people often approach their investments with the same mindset—jumping into volatile markets or speculative assets without fully comprehending the potential downsides. Just as Action Park’s rides pushed safety to the side in favor of thrills, some investors chase high returns without a plan for what happens if things go wrong.

In the financial world, it’s essential to know your risk tolerance. Are you comfortable with volatility, or would you panic at the first sign of a market downturn? Assessing your risk tolerance helps you build a portfolio that matches your comfort level, ensuring that you’re not blindsided by unexpected events. Diversification and careful planning serve as the “safety gear” of investing—making sure that even if one part of your portfolio underperforms, you won’t be completely derailed.

Unlike the chaotic world of Action Park, financial planning thrives on structure and foresight. Understanding the risks and building a plan around them ensures that you can enjoy the ride without worrying about crashing off the track. After all, no one wants to be left scrambling for safety in the middle of a financial "tidal wave."