Jan

1

 1. They say a good symphony ends on the same motif that it starts on in many respects. Would you hypothesize that the market will do the same with respect to its beginning and end?

2. Aside from the admonition of the British Navy that politics and religion not be discussed at dinner, and that no one speak before the captain, and that articles of war are to be read every Sunday, and that no one argue with an officer publicly (a capital offense), and that all invitations from the captain be accepted, what are the major customs of the British Navy that made them the source of so much peace and prosperity and victory for 200 years, in a field where, like ours, just one plank separates you from life or death, and the only certainty is that you always have to be on your guard, with two lookouts always on duty?

3. What are the requirements for a market move to replicate and exponentiate? After a very quiet five up days in a row, what does the market have in store for us, especially considering the unchanged day in Japan, and the fantastic 1 1/2 % moves in 10 minutes at the early stealth close in the Europeans?

Paolo Pezzutti comments:

The following are customs and traditions of the Royal Navy that I find significant in this regard:

- Until 1825 some pay was held back as a guarantee against desertion
- Capt. Cook was determined to avoid deaths from scurvy. His success was an important step in the creation of the British Empire. Other diseases were avoided through keeping the ship, the crew and their clothes clean.
- Organization. Each man's role on board was efficiently defined.
- Discipline was important. Punishment also reinforced organization. Men were punished if they failed to do their duty and put the ship in danger.
- Training made the difference. British ships handled sails and fired guns more quickly than others.
- Navigational skills. They were by far superior.
- Promotion to Commander and then Captain was through merit or bravery. Incentives are key to success of an organization.
- The best officers through patronage could pick their followers. This would create cohesive, ambitious teams willing to pursue victories and prizes.

I would add also:
- Wardroom drinking (which must be social and not solitary), and the toast of the day
- Men remove their caps entering a mess
- The rule about not to call anyone a liar in the wardroom 
- Using the ship's bell to mark the passage of time
- Seniors board last and leave first.

My view is that you do not build a Navy like that only with money. You need to have an organization which attracts brilliant minds, able to understand the strategic context, conceive and implement successful visions, capable of commanding men. On the other hand, you need people who can develop the best operational concepts, understand the operational requirements, design ships and weapons better than others, an industry base able to support adequately the fleet. You need to have good sailors and fighters to achieve the command of the sea and it is not only a matter of money. They need to be professionally skilled, motivated and share common values and objectives.

Nigel Davies adds:

There's also a question of motivation. Britain, being an island, would be able to defend itself by commanding the waves. And being good at seafaring was also essential from a trade point of view. You can still see the influence of these times in today's UK with our preference for preserved foods such as marmalade and port.

GM Davies is the author of Play 1 e4 e5: A Complete Repertoire for Black, Everyman, 2005


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