Films - To Watch List

Another movie on the same line of thinking...LOYALTY

This is movie that we have to discuss.. its perfectly done.. and the quotes of the movie are perfect..It has a story which is worth discussing in economics as well as for our personnel lives..

Quotes of the movie

"Where there is discord, may we bring harmony. Where there is error, may we bring truth. Where there is doubt, may we bring faith. And where there is despair, may we bring hope... There is now work to be done." (Thatcher quotes Saint Francis of Assisi and recently murdered Conservative member of parliament Airey Neave on her first day in Downing Street, May 1979)

Magrat Thatcher the first female prime minister of UK is known as Iron Lady. In this movie an old clip shown when she was elected. It says that she joined to the ranks of Mrs Sirimavo Bandaranayake and Indira Gandhi..

Thatcher was a daughter of a grocery-man and she worked in the grocery as a young girl. Her father is a eloquent speaker who says " as per Napoleon Britain is a nation of Groceries and we are proud of that and that's why Napoleon could not defeat us."

She joined to University and then to politics. One nice incident shown in the movie is Falkland invasion by Argentina

Leaders are not really fighting in the front line but developers of strategies..
Strategy developing is known as MAP-FIGHTING.. Because what you really do is move symbolic pieces here and there and ask down the line to do the same in real world.

Map-fighting has a good meaning.. We lay down a very big map and see the whole picture where a fighter on the ground only see the things in front of him.

Further pictures, charts offer information in easy to grasp manner than numbers/statistics..

Even in market related decision making charts and graphs are very useful and easy to understand than numbers

Great Britain occupy in a small island near Argentina and all of sudden Argentinian troops occupy on the land chasing out the British Navy..

Magrat Thatcher being the PM ask from the Navy Commander " Why were you not in a position to defend this tiny island "

" Because your administration cut down the cost of state and we had to down-size the number of military men present"

(not the exact dialogue)

Why she cut-down government expenditure? She was advised by Milton Friedman the economist from US.

One of the most surprising appointments that the young Margaret Thatcher made when she became British prime minister in 1979 was to ask an elderly American academic to be her macro-economic adviser.
Milton Friedman was in his 60s, leader of a small group of respected but largely theoretical academics known as the "Chicago school". He and his colleagues had been making waves by promoting "economic liberalism", including low taxes, the sale of state-owned industries, the removal of protectionist barriers, the primacy of private rather than government finance and, philosophically, the individual above the state.

And the general public was against her until Falkland war..Almost same economic policies in above bold letters are identified by some as capitalism and almost same is applied here by JRJ following Thatcher and Regan

US state Secretary reach UK during falkland issue to preach Iron Lady that war is in vain and Falkland has no economical value..She cut short the dialogue and say about Hawai and Japanese Pearl harbour attack and her solution is war followed by a tea..

She won the war and with the motivated nation economy boomed until she became unpopular and resign after 11 and half years as PM.

Nothing on investments but may change how you look at life
( maybe take life itself as an investment) :

Watch Everest ( 2015) preferably in 3D or IMAX

Stunning cinematography to start with.
There is one scene , that science will not be able to explain.

planning to watch soon at savoy 3d

Everest 2015

Enjoyed at Savoy 3D

A good movie and the second one I watched on climbing Everest.

In one of Jim Collins books ( I think in Good to Great) he discuss two teams climbing Everest and the two teams are almost similar but the difference is leadership. One team perish the other all members survived..Simple technical changes between the two teams made one to win the other to perish. Slow moving and carrying enough items ( specially oxygen canisters ) saved the surviving team and the book evaluate companies with similar features..

Thanx SLS
Your effort is like climbing Everest with a team.. You want to see everyone survive and reach the zenith..

The latest film I think was adapted over the Beck Weathers book and never before used audio tapes mostly.

In the other book you mentioned , "Slow moving and carrying enough items ( specially oxygen canisters ) saved the surviving team"

Well actually in this case it was the opposite. Rob Hall got killed mostly because he was trying to help Dave and was not fast enough to get down before D-Time .

In this 1996 sad Everest event( 2015 film) , the Rob Hall died has he was the type to "hold hands" to guide/save everyone.

But even more interesting is the Scott ( opposing company leader) was the type
"you should not climb Everest if you are not upto it". It your risk.

But BOTH DIED.


Btw, glad to see atleast YK understood me a bit better.

yellow knife wrote:
In one of Jim Collins books ( I think in Good to Great) he discuss two teams climbing Everest and the two teams are almost similar but the difference is leadership. One team perish the other all members survived..Simple technical changes between the two teams made one to win the other to perish. Slow moving and carrying enough items ( specially oxygen canisters ) saved the surviving team and the book evaluate companies with similar features..

Thanx SLS
Your effort is like climbing Everest with a team.. You want to see everyone survive and reach the zenith..

Well its Jim Collins " Great By Choice-Uncertainty, Chaos, and Luck – Why  Some Thrive Despite Them All,
and its based on the same incident where Everest 2015 is based.

Everest 2015

https://en.wikipedia.org/wiki/Everest_%282015_film%29

Everest is a 2015 British–American 3D disaster drama and adventure thriller film directed by Baltasar Kormákur and written by William Nicholson and Simon Beaufoy. The film stars Jason Clarke, Josh Brolin, John Hawkes, Robin Wright, Michael Kelly, Sam Worthington, Keira Knightley, Emily Watson, and Jake Gyllenhaal.
The film opened the 72nd Venice International Film Festival on September 2, 2015, and was released theatrically on September 18, 2015.^[4] It is based on the real events of the 1996 Mount Everest disaster, and focuses on the survival attempts of two expedition groups, one led by Scott Fischer (Gyllenhaal) and the other by Rob Hall (Clarke)


Jim Collins book

http://blog.optimityadvisors.com/?p=150

compare the actions of a little known production team led by David Breashers, who achieved the incredible goal of shooting an IMAX film on top of Mount Everest, and the calamity of the Everest expedition led by Rob Hall and Scott Fischer, notably chronicled in Jon Krakauer’s book, Into Thin Air

Watch below movie, One of the best movies I ever watched

Seven (sometimes stylized as SE7EN)[3] is a 1995 American neo-noir crime psychological thriller film directed by David Fincher, and stars Brad Pitt, Morgan Freeman, Gwyneth Paltrow, John C. McGinley, R. Lee Ermey and Kevin Spacey. The film was based on a screenplay by Andrew Kevin Walker.

But some events as you saw in the movie was different to the book version you mentioned?
It was based on Beck W ( a survior) book if I am not mistaken. ( that were the miracle like thing happened I mentioned before)

yes agree with SLS

Beck W survived to write a book... So he is the other team leader..It his team leadership that Jim Collins disucss

Hmm.. No YK,
Both team leaders died. ( Rob Hall and Scott )

Beck W was participant in Rob Hall team ( not a leader) who survived by a miraculous feat.

Are you sure you were awake during the film ( just kidding)

yellow knife wrote:yes agree with SLS

Beck W survived to write a book... So he is the other team leader..It his team leadership that Jim Collins disucss

ok SLS

.. and anyway I will again watch the movie ...Thanx for the clarification SLS

Ok SLS

I referred the book Great by Choice of Jim Collins. This is the exact quote of page 101


Many People know this 1996 Everest story through Jon Krakauer's book Into Thin Air. : if you haven't yet read Krakauer's book be sure to do so. But also be sure to read DAvid Breashear's superb book High Exposure. Here like Amundsen and Scott , we have a comparison contrast: Two sets of team leaders on the same mountain on the same day, both with burdens of responsibility and business pressures ( one to lead clients to the top for a large fee and the other to complete a multimillion-dollar movie project). , both with tremendous experience -yet only one leads his team to 10X success, achieving the incredible goal of shooting an IMAX film on the top of Everest, and bringing himself and every member of his team safely home.


So there were two teams one lead by Rob Hall and the other by David Breashear. Rob Hall and Fischer were finally in the same team.

Your Quote

In the other book you mentioned , "Slow moving and carrying enough items ( specially oxygen canisters ) saved the surviving team"

Well actually in this case it was the opposite. Rob Hall got killed mostly because he was trying to help Dave and was not fast enough to get down before D-Time .

In this 1996 sad Everest event( 2015 film) , the Rob Hall died has he was the type to "hold hands" to guide/save everyone.

Again let me quote from Great by Choice


Then there was Rob Hall's decision to ignore his turnaround time, not by minutes but by hours, as he waited for client Dough Hansen to reach the summit. ( the " turnaround time" is a time preset by a climbing team by which they commit to begin their descent, regardless of whether they've reached the summit, thus preserving a greater margin of safety for completing their descent in daylight. ) But focusing on these two moments of decision obscures our view and limits our understanding . From a 10X perspective , the most important decisions were made before the teams even got to the mountain, months before, when Breashears sat in Boston planning and preparing.

So one team really planned events months ahead while the other team only when events occur.

Now about oxygen canisters...
======
David Breashears and his team brought enough oxygen canisters for more than one summit bid and enough supplies to stay at Everest for an extra three weeks. Breashears turned around and went down on May 8 because he could go down, wait for a better day ,and still have reserves for another bid. Rob Hall's team in contrast, brought enough oxygen for only one summit bid.
=========
So obvious Rob Hall and the team had " turnaround timing issue" as well as lack of " oxygen canisters" issue and that made the team perish.

SLS

You and I have watched the same movie but I was with a per-arranged mind set based on my readings of the same story in 2012. So definitely there can be areas where we do not agree upon..

This tragedy of Everest was helpful for us investors..

Rob Hall and the team are like traders.. Your important thing is turnaround TIMING. If you fail to sell at the right time you are perished.

The long term investors are not worried about timing. We tend to avoid the uncertainties.

Traders have to take decisions based on technical analysis then and there.. But we the long term investors do enough home work and most of the time away from active market participation..

Now lessons from the Jim Collins Book

1. Build cash reserves and buffers- Oxygen canisters-to prepare for unexpected events and bad luck before they happen

2. Bound risk-Death line risk, asymmetric risk and uncontrollable risk and manage time based risk

3. Zoom out then Zoom in  remaining hyper vigilant to sense changing conditions and respond effectively.


That's what I exactly do in my Never to Sell type portfolio..


Now the final part.


Jim Collins did the research on similar incidents taking two companies and where one win the other perish and conclude do these and you will be great by choice.

But after many years even Build to Last companies collapsed. So he wrote Why the Mighty Fall?