We all have preconceived impressions about warfare, and generally it is correct – if a state or government is very well funded it could afford to spend the most money on advanced weapons and pay for a standing regular military. Along with reasonable administration it should have staying power and then comes the exception. In a book called Mongols, Huns and Vikings by Hugh Kennedy published by Cassell & Co, London, UK, 2002, Mr. Kennedy says the Nomads were the exception and to answer the question why were they the exception, he reviews the groups.

The technological advantage the Vikings had over their competition was their ship. The ship were clinker-built, with overlapping planks nailed on to a wooden framework. This produced a ship which was strong, light and flexible to ride the waves in the seas. The power was either by oars and/or by sail and were faster than other ships on the ocean. The next big advantage is very shallow draught or amount of ship below the water. It could be less than 18 inches which means rivers and streams could be sailed on.  The Vikings would try to raid or sack or rob or take tribute from coastal cities in Europe.

The end of the nomads advantage was technology or gun powder. Not the actual stuff but the mechanics of making it. In order to make gun powder permanent settlements and factories are needed. The lifestyle of the nomad is to move from one place to another which makes the requirement difficult.

Linking to dividend paying stocks, at the present time we are undergoing a change in technology to mobile. It is not here yet, but it is coming and it is a challenge to take advantage of and use the new technology until one or two become the standard. There are always challenges in the economic world and to continue to make profits is one of them. For the stocks you own, what is their economic advantage? people wish to have some notion of being able to use an alternative – how close are they to the companies which you own?

There are more questions than answers, till the next time – to raising questions.