HEXAGRAM 46: ORIGINAL, INTERPRETATION AND CASES

HEXAGRAM 46 – Sheng - Pushing Upward

Above K'UN THE RECEPTIVE, EARTH

Below SUN THE GENTLE, WIND, WOOD

· The lower trigram, Sun, represents wood, and

· the upper, K'un, means the earth.

Linked with this is the idea that wood in the earth grows upward.

In contrast to the meaning of Chin, PROGRESS (35),

this pushing upward is associated with effort,

just as a plant needs energy for pushing upward through the earth.

That is why this hexagram, although it is connected with success, is associated with effort of the will.

· In PROGRESS the emphasis is on expansion;

· PUSHING UPWARD indicates rather a vertical ascent - direct rise

o from obscurity and lowliness

o to power and influence.

THE JUDGMENT

PUSHING UPWARD

has supreme success.

One must see the great man.

Fear not.

Departure toward the south

Brings good fortune.

The pushing upward of the good elements

· encounters no obstruction and

· is therefore accompanied by great success.

The pushing upward is made possible

· not by violence

· but by modesty and adaptability.

Since the individual is borne along by the propitiousness of the time,

he advances.

He must go to see authoritative people.

He need not be afraid to do this, because success is assured.

But

he must set to work, for activity (this is the meaning of "the south") brings good fortune.

THE IMAGE

Within the earth, wood grows: The image of PUSHING UPWARD.

Thus the superior man of devoted character

Heaps up small things

In order to achieve something high and great.

· Adapting itself to obstacles and bending around them,

wood in the earth grows upward without haste and without rest.

Thus too

· the superior man

o is devoted in character and

o never pauses in his progress.

THE LINES

Six at the beginning means:

Pushing upward that meets with confidence

Brings great good fortune.

This is the situation at the beginning of ascent.

Just as

· wood draws strength for its upward push from the root,

which in itself is in the lowest place,

· the power to rise comes from this low and obscure station.

· But there is a spiritual affinity with the rulers above, and

· this solidarity creates the confidence needed to accomplish something.

Nine in the second place means:

If one is sincere,

It furthers one to bring even a small offering.

No blame.

Here a strong man is presupposed.

It is true that

· he does not fit in with his environment, inasmuch as

· he is too brusque and pays too little attention to form.

But as

he is upright in character,

· he meets with response, and

· his lack of outward form does no harm.

Here

· uprightness is the outcome of sound qualities of character,

whereas in the corresponding line of the preceding hexagram

· it is the result of innate humility.

Nine in the third place means:

One pushes upward into an empty city,

All obstructions that generally block progress fall away here.

Things proceed with remarkable ease.

Unhesitatingly one follows this road, in order to profit by one's success.

Seen from without, everything seems to be in the best of order.

However, no promise of good fortune is added.

It is a question how long such unobstructed success can last.

But it is wise not to yield to such misgivings,

because they only inhibit one's power.

Instead,

the point is to profit by the propitiousness of the time.

Six in the fourth place means:

The king offers him Mount Ch'i.

Good fortune.

No blame.

Mount Ch'i is in western China, the homeland of King Wen, whose son,

the Duke of Chou, added the words to the individual lines.

The pronouncement takes us back to a time when the Chou dynasty was coming into power.

At that time

· King Wen introduced his illustrious helpers to the god of his native mountain, and

· they received their places in the halls of the ancestors by the side of the ruler.

This indicates a stage in which pushing upward attains its goal.

One

· acquires fame in the sight of gods and men,

· is received into the circle of those who foster the spiritual life of the nation,

and thereby

· attains a significance that endures beyond time.

Six in the fifth place means:

Perseverance brings good fortune.

One pushes upward by steps.

When a man is advancing farther and farther,

· it is important for him not to become intoxicated by success.

Precisely when he experiences great success it is necessary

o to remain sober and

o not to try to skip any stages;

· he must go on slowly, step by step, as though hesitant.

Only such calm, steady progress, overleaping nothing, leads to the goal.

Six at the top means:

Pushing upward in darkness.

It furthers one to be unremittingly persevering.

· He who pushes upward blindly deludes himself.

· He knows only advance, not retreat.

But this means exhaustion.

In such a case it is important to be constantly mindful that

one

· must be conscientious and consistent and

· must remain so.

Only thus does

one

· become free of blind impulse, which is always harmful.

46 PUSHING UPWARD

MANAGERIAL ISSUE:

The CEO – managing a Pushing Upwards (efforts to grow) strategy.

Hexagram 46 – The Pushing Upwards Time – Space:

1) Corresponds to a time for the corporation to grow based on effort.

2) Indicates rather a vertical ascent - direct rise from obscurity and lowliness to power and influence.

3) Encounters no obstruction and is therefore accompanied by great success.

4) Is made possible not by violence but by modesty and adaptability.

This is a time to:

1) Grow or expand by opening more branches or plants or franchises, such as the case of McDonald’s, or

2) Integrate with other corporations either vertically or horizontally.

Only then will this corporation become well known and take its place as the leader of the industry.

MANAGERIAL LESSON:

1) The Superior CEO knows a Pushing Upward Time – Space requires:

a) Work - it is not just Heaven sent.

b) Strategy – a deliberate pushing upwards strategy.

c) Effort - of all the employees and especially of management to establish the right strategies.

Success will come but only through effort. The Superior CEO knows that if he and his team do their homework, then and only then will they turn this corporation into a profitable one because the times are very propitious for growth. Heaven helps those who help themselves.

2) The Superior CEO knows the key elements to follow during the Pushing Upward Time-Space are:

a) Flexibility,

b) Humility, and

c) The imperative need to gather around him men of experience and talent.

If the CEO manages that, then success is assured because the Pushing Upward Time – Space is favorable.

INVESTMENT ADVICE:

For the investor, the Pushing Upwards Time-Space represents in general terms a positive environment for investing.

By itself (no lines) Pushing Upwards points to Supreme Success provided the CEO is humble. He has the Mandate of Heaven.

PUSHING UPWARD

has supreme success.

One must see the great man.

Fear not.

Departure toward the south

Brings good fortune.

The pushing upward of the good elements encounters no obstruction and is therefore accompanied by great success. The pushing upward is made possible not by violence but by modesty and adaptability. Since the individual is borne along by the propitiousness of the time, he advances. He must go to see authoritative people. He need not be afraid to do this, because success is assured. But he must set to work, for activity (this is the meaning of "the south") brings good fortune.

Out of the six lines, one is Great Good Fortune, two are Good Fortune and none are too negative. That is, in most cases the CEO is able to manage the Pushing Upward Time-Space properly.

The following cases are those of corporations under the Pushing Upwards Time-Space:

· Teva Pharmaceutical Ind. Ltd. TEVA under CEO Shlomo Yanai

· VMware, Inc. VMW under CEO Paul A. Maritz

· Expedia Inc. EXPE under CEO Dara Khosrowshahi

· Gilead Sciences Inc. GILD under CEO John C. Martin

· Amgen Inc. AMGN under CEO Kevin W. Sharer

(Read at the end of the Hexagram)

THE LINES

SIX IN THE FIRST PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy - struggling with its beginning.

Managerial Lesson: Be tenacious.

Managerial Warning: At the first stage of the Pushing Upward Time-Space, the CEO finds that in the beginning of the Pushing Upwards motion, the strength to grow must come from the corporation itself and not from outside help such as the commercial bankers or the investment bankers.

Managerial Warning: The Superior CEO knows that a corporation must have a real desire to grow if it wants to survive and accomplish its goal in the end. That is, both: the desire to grow and the will power to survive represent inner qualities which no one else can provide. If the corporation shows it has the will to survive and the inner strength to grow, then the market and eventually the investment bankers will also accept them.

Investment Advice: Invest. The I Ching says “Pushing upward that meets with confidence Brings Great Good Fortune”.

NINE IN THE SECOND PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy - failing to attract supporters due to lack of finesse.

Managerial Lesson: Be gracious.

Managerial Warning: At the second stage of the Pushing Upward Time-Space, the CEO finds the corporation has the strong will to survive but lacks the finesse to attract investors. This is the typical case of a genius with a revolutionary product but caring little for anyone else’s opinion.

Managerial Warning: The Superior CEO knows that, if the market shows a real great acceptance for the corporation’s product and if the corporation has shown a strong will to survive, it will surely find the right investors. This has been the case of many corporations (Apple) in its beginnings.

Investment Advice: Do not invest

NINE IN THE THIRD PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy – at a fortuitous time.

Managerial Lesson: Be timely.

Managerial Warning: At the third stage of the Pushing Upward Time-Space, the CEO finds the corporation favored by a time when fate intervenes and creates the proper conditions for success.

Managerial Warning: The Superior CEO knows that favorable conditions, even if Heavenly ordained, will eventually come to an end. It is only a matter of time. There is no guarantee such conditions will last. Therefore, he makes the most of it and fulfills Heaven’s Mandate.

Investment Advice: Do not invest.

SIX IN THE FOURTH PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy – honoring those who helped him in his efforts.

Managerial Lesson: Be honorable.

Managerial Warning: At the fourth stage of the Pushing Upward Time-Space, the CEO honors those who helped him turn his dream into a reality.

Managerial Warning: The Superior CEO knows that he owes the turning of his dreams into realities to the assistance of able and loyal helpers (e.g. that is the case of Jobs, Gates, Ellison, etc.). And because he owes the success of the corporation to these able helpers, he wisely bestows all honors upon them. The Superior CEO knows (particularly in the case of a startup corporation) that by recognizing the merit of his helpers, he will, in turn, receive all the honors from society and its leaders. Honor your loyal helpers that society may honor you in turn.

Investment Advice: Invest. The I Ching says: “Good Fortune”.

SIX IN THE FIFTH PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy – success and its dangers.

Managerial Lesson: Be sober.

Managerial Warning: At the fifth stage of the Pushing Upward Time-Space, the CEO faces one of the most critical periods of a corporation. Once success is achieved, there is a tremendous pressure to relax rather than look over your shoulder, as Andy Grove of Intel would say. This is where the corporation can fail.

Managerial Warning: The Superior CEO recognizes all dangers and in particular the danger associated with success. Therefore, he keeps on his task and thereby does not allow success to lead him in the wrong direction. He knows the role of the CEO is to keep the right attitude and to remain humble after successfully leading his corporation.

Investment Advice: Invest. The I Ching says:” Perseverance brings Good Fortune”.

SIX IN THE SIXTH PLACE

Managerial Issue: The CEO – managing a Pushing Upwards (efforts to grow) strategy – easing up.

Managerial Lesson: Be flexible.

Managerial Warning: At the sixth stage of the Pushing Upward Time-Space, the CEO faces exhaustion from pushing upward all the time.

Managerial Warning: The Superior CEO recognizes everything has limits. He knows when to push and when to rest. He knows that this is the time to ease up on any aggressive expansion policy and that to continue to push will result in a corporate burn out.

The CEO should think out of the box. As an alternative, he might turn the corporation in another direction, much as Andy Grove did when he turned Intel from a memory company to a chip company, and even considered turning his company into a communications company. Only the proper shift at the proper time will avoid a sure fall. A well thought out plan will prevent the slightest whim to take over control. This is a lesson for any CEO who thinks he can only push his corporation forward doing more and more of the same only.

Investment Advice: Do not invest

MANAGERIAL CASES

Teva Pharmaceutical Ind. Ltd. TEVA under CEO Shlomo Yanai

Shlomo Yanai’s Performance: ROI= 3.24% Annualized Return= 0.71%

SPY’s Performance: ROI= (16.08%) Annualized Return= (5.09%)

Shlomo Yanai became CEO of Teva Pharmaceutical in March of 2007. Since then, his performance would appear better than the SPY’s; however, looking at it closely, we can see that as of September of 2010 he has been underperforming the SPY substantially.

There are, however, two points that should concern the investor:

· The line at the top: promises good fortune which means he will do well in the end.

· The Moving hexagram The Arousing (Shock, Thunder) would mean the corporation could go through quite a period of turbulence.

Points the investor should consider:

1) THE HEXAGRAM

Hexagram 46 – Sheng - Pushing Upward

The lower trigram, Sun, represents wood, and the upper, K'un, means the earth. Linked with this is the idea that wood in the earth grows upward. In contrast to the meaning of Chin, PROGRESS (35), this pushing upward is associated with effort, just as a plant needs energy for pushing upward through the earth. That is why this hexagram, although it is connected with success, is associated with effort of the will. In PROGRESS the emphasis is on expansion; PUSHING UPWARD indicates rather a vertical ascent - direct rise from obscurity and lowliness to power and influence.

THE JUDGMENT

PUSHING UPWARD

has supreme success.

One must see the great man.

Fear not.

Departure toward the south

Brings good fortune.

2) THE ADVICE

Within the earth, wood grows: The image of PUSHING UPWARD.

Thus the superior man of devoted character

Heaps up small things

In order to achieve something high and great.

Adapting itself to obstacles and bending around them, wood in the earth grows upward without haste and without rest. Thus too the superior man is devoted in character and never pauses in his progress.

3) THE LINES:

Six at the beginning means:

Pushing upward that meets with confidence

Brings great good fortune.

This is the situation at the beginning of ascent. Just as wood draws strength for its upward push from the root, which in itself is in the lowest place, so the power to rise comes from this low and obscure station. But there is a spiritual affinity with the rulers above, and this solidarity creates the confidence needed to accomplish something.

Nine in the second place means:

If one is sincere,

It furthers one to bring even a small offering.

No blame.

Here a strong man is presupposed. It is true that he does not fit in with his environment, inasmuch as he is too brusque and pays too little attention to form. But as he is upright in character, he meets with response, and his lack of outward form does no harm. Here uprightness is the outcome of sound qualities of character, whereas in the corresponding line of the preceding hexagram it is the result of innate humility.

Nine in the third place means:

One pushes upward into an empty city,

All obstructions that generally block progress fall away here. Things proceed with remarkable ease. Unhesitatingly one follows this road, in order to profit by one's success. Seen from without, everything seems to be in the best of order. However, no promise of good fortune is added. It is a question how long such unobstructed success can last. But it is wise not to yield to such misgivings, because they only inhibit one's power. Instead, the point is to profit by the propitiousness of the time.

Six in the fourth place means:

The king offers him Mount Ch'i.

Good fortune.

No blame.

Mount Ch'i is in western China, the homeland of King Wen, whose son, the Duke of Chou, added the words to the individual lines. The pronouncement takes us back to a time when the Chou dynasty was coming into power. At that time King Wen introduced his illustrious helpers to the god of his native mountain, and they received their places in the halls of the ancestors by the side of the ruler. This indicates a stage in which pushing upward attains its goal. One acquires fame in the sight of gods and men, is received into the circle of those who foster the spiritual life of the nation, and thereby attains a significance that endures beyond time.

4) THE MOVING HEXAGRAM

HEXAGRAM 51 – Chen - The Arousing (Shock, Thunder)

The hexagram Chen represents the eldest son, who seizes rule with energy and power. A yang line develops below two yin lines and presses upward forcibly. This movement is so violent that it arouses terror. It is symbolized by thunder, which bursts forth from the earth and by its shock causes fear and trembling.

THE JUDGMENT

Shock brings success.

Shock comes-oh, oh!

Laughing words-ha, ha!

The shock terrifies for a hundred miles,

And he does not let fall the sacrificial spoon and chalice.

The shock that comes from the manifestation of God within the depths of the earth makes man afraid, but this fear of God is good, for joy and merriment can follow upon it.

When a man has learned within his heart what fear and trembling mean, he is safeguarded against any terror produced by outside influences. Let the thunder roll and spread terror a hundred miles around: he remains so composed and reverent in spirit that the sacrificial rite is not interrupted. This is the spirit that must animate leaders and rulers of men - a profound inner seriousness from which all outer terrors glance off harmlessly.

THE IMAGE

Thunder repeated: the image of SHOCK.

Thus in fear and trembling

The superior man sets his life in order

And examines himself.

The shock of continuing thunder brings fear and trembling. The superior man is always filled with reverence at the manifestation of God; he sets his life in order and searches his heart, lest it harbor any secret opposition to the will of God. Thus reverence is the foundation of true culture.

VMware, Inc. VMW under CEO Paul A. Maritz

Paul A. Maritz’s Performance: ROI= 135.91% Annualized Return= 30.88%

SPY’s Performance: ROI= (14.37%) Annualized Return= (4.99%)

Paul A. Maritz became CEO of VM Ware in July of 2008. Since then, his performance has been substantially better than the SPY’s;

Going forward, the investor should consider:

· The line promises good fortune and a warning: it is important for him not to become intoxicated by success. Precisely when he experiences great success it is necessary to remain sober and not to try to skip any stages; he must go on slowly, step by step, as though hesitant. Only such calm, steady progress, overleaping nothing, leads to the goal That is, if he has any aggressive expansion plans, he should not assume that he will succeed in the future new projects as in the past. Assuming success will only lead to errors.

· The Moving hexagram is The Well which is positive.

Points the investor should consider:

1) THE HEXAGRAM

(Same as Above).

2) THE ADVICE

(Same as Above).

3) THE LINES:

Six in the fifth place means:

Perseverance brings good fortune.

One pushes upward by steps.

When a man is advancing farther and farther, it is important for him not to become intoxicated by success. Precisely when he experiences great success it is necessary to remain sober and not to try to skip any stages; he must go on slowly, step by step, as though hesitant. Only such calm, steady progress, overleaping nothing, leads to the goal.

4) THE MOVING HEXAGRAM

HEXAGRAM 48 – Ching - The Well

Wood is below, water above. The wood goes down into the earth to bring up water. The image derives from the pole-and-bucket well of ancient China. The wood represents not the buckets, which in ancient times were made of clay, but rather the wooden poles by which the water is hauled up from the well. The image also refers to the world of plants, which lift water out of the earth by means of their fibers.

The well from which water is drawn conveys the further idea of an inexhaustible dispensing of nourishment.

THE JUDGMENT

THE WELL.

The town may be changed,

But the well cannot be changed.

It neither decreases nor increases.

They come and go and draw from the well.

If one gets down almost to the water

And the rope does not go all the way,

Or the jug breaks, it brings misfortune.

In ancient China the capital cities were sometimes moved, partly for the sake of more favorable location, partly because of a change in dynasties. The style of architecture changed in the course of centuries, but the shape of the well has remained the same from ancient times to this day. Thus the well is the symbol of that social structure which, evolved by mankind in meeting its most primitive needs, is independent of all political forms. Political structures change, as do nations, but the life of man with its needs remains eternally the same - this cannot be changed. Life is also inexhaustible. It grows neither less nor more; it exists for one and for all. The generations come and go, and all enjoy life in its inexhaustible abundance.

However, there are two prerequisites for a satisfactory political or social organization of mankind. We must go down to the very foundations of life. For any merely superficial ordering of life that leaves its deepest needs unsatisfied is as ineffectual as if no attempt at order had ever been made. Carelessness - by which the jug is broken - is also disastrous. If for instance the military defense of a state is carried to such excess that it provokes wars by which the power of the state is annihilated, this is a breaking of the jug.

This hexagram applies also to the individual. However men may differ in disposition and in education, the foundations of human nature are the same in everyone. And every human being can draw in the course of his education from the inexhaustible wellspring of the divine in man's nature. But here likewise two dangers threaten: a man may fail in his education to penetrate to the real roots of humanity and remain fixed in conventions partial education of this sort is as bad as none or he may suddenly collapse and neglect his self-development.

THE IMAGE

Water over wood: the image of THE WELL.

Thus the superior man encourages the people at their work,

And exhorts them to help one another.

The trigram Sun, wood, is below, and the trigram K'an, water, is above it. Wood sucks water upward. Just as wood as an organism imitates the action of the well, which benefits all parts of the plant, the superior man organizes human society, so that, as in a plant organism, its parts cooperate for the benefit of the whole.

Expedia Inc. EXPE under CEO Dara Khosrowshahi

Khosrowshahi’s Performance: ROI= 25.87% Annualized Return= 3.83%

SPY’s Performance: ROI= (3.87%) Annualized Return= (0.64%)

Dara Khosrowshahi became CEO of Expedia in August of 2005. Since then, his performance has been better than the SPY’s;

Going forward, the investor should consider:

· The first line points to Good Fortune and has a positive comment: This indicates a stage in which pushing upward attains its goal

· The second line contains a recommendation It furthers one to be unremittingly persevering. And a warning: He who pushes upward blindly deludes himself. He knows only advance, not retreat. But this means exhaustion. In such a case it is important to be constantly mindful that one must be conscientious and consistent and must remain so. Only thus does one become free of blind impulse, which is always harmful. That is, if he has any aggressive expansion plans, he should slow down.

· The Moving hexagram is The Caldron which is very positive.

Points the investor should consider:

1) THE HEXAGRAM

(Same as Above).

2) THE ADVICE

(Same as Above).

3) THE LINES:

Six in the fourth place means:

The king offers him Mount Ch'i.

Good fortune.

No blame.

Six at the top means:

Pushing upward in darkness.

It furthers one to be unremittingly persevering.

He who pushes upward blindly deludes himself. He knows only advance, not retreat. But this means exhaustion. In such a case it is important to be constantly mindful that one must be conscientious and consistent and must remain so. Only thus does one become free of blind impulse, which is always harmful.

4) THE MOVING HEXAGRAM

HEXAGRAM 50 – Ting - The Caldron

The six lines construct the image of Ting, THE CALDRON; at the bottom are the legs, over them the belly, then come the ears (handles), and at the top the carrying rings. At the same time, the image suggests the idea of nourishment. The Ting, cast of bronze, was the vessel that held the cooked viands in the temple of the ancestors and at banquets. The head of the family served the food from the Ting into the bowls of the guests.1 THE WELL (48) likewise has the secondary meaning of giving nourishment, but rather more in relation to the people. The Ting, as a utensil pertaining to a refined civilization, suggests the fostering and nourishing of able men, which redounded to the benefit of the state. (2)

This hexagram and THE WELL are the only two in the Book of Changes that represent concrete, man-made objects. Yet here too the thought has its abstract connotation. Sun, below, is wood and wind; Li, above, is flame. Thus together they stand for the flame kindled by wood and wind, which likewise suggests the idea of preparing food.

THE JUDGMENT

THE CALDRON.

Supreme good fortune.

Success.

While THE WELL relates to the social foundation of our life, and this foundation is likened to the water that serves to nourish growing wood, the present hexagram refers to the cultural superstructure of society. Here it is the wood that serves as nourishment for the flame, the spirit. All that is visible must grow beyond itself, extend into the realm of the invisible. Thereby it receives its true consecration and clarity and takes firm root in the cosmic order.

Here we see civilization as it reaches its culmination in religion. The Ting serves in offering sacrifice to God. The highest earthly values must be sacrificed to the divine. But the truly divine does not manifest itself apart from man. The supreme revelation of God appears in prophets and holy men. To venerate them is true veneration of God. The will of God, as revealed through them, should be accepted in humility; this brings inner enlightenment and true understanding of the world, and this leads to great good fortune and success.

THE IMAGE

Fire over wood: The image of THE CALDRON.

Thus the superior man consolidates his fate

By making his position correct.

The fate of fire depends on wood; as long as there is wood below, the fire burns above. It is the same in human life; there is in man likewise a fate that lends power to his life. And if he succeeds in assigning the right place to life and to fate, thus bringing the two into harmony, he puts his fate on a firm footing. These words contain hints about the fostering of life as handed on by oral tradition in the secret teachings of Chinese yoga,

Gilead Sciences Inc. GILD under CEO John C. Martin

John Martin’s Performance: ROI= 1896.22% Annualized Return= 21.36%

SPY’s Performance: ROI= 81.57% Annualized Return= 3.93%

John C. Martin became CEO of Gilead Sciences in April of 1996. He has been CEO for a long time and since then, his performance has been substantially better than the SPY’s;

Because he has been CEO for so long, it is important to ask the Oracle once again about his future performance. Going forward, the investor should consider:

· The third line points not to Good Fortune but to the propitiousness of the times and to make the most of it:

o The condition: All obstructions that generally block progress fall away here. Things proceed with remarkable ease. Unhesitatingly one follows this road, in order to profit by one's success. Seen from without, everything seems to be in the best of order. However, no promise of good fortune is added.

o The Warning: It is a question how long such unobstructed success can last. But it is wise not to yield to such misgivings, because they only inhibit one's power. Instead, the point is to profit by the propitiousness of the time.

· The Moving hexagram is The Army which, even though includes an element of danger, can be positive if the proper leader leads the Army.

Points the investor should consider:

1) THE HEXAGRAM

(Same as Above).

2) THE ADVICE

(Same as Above).

3) THE LINES:

Nine in the third place means:

One pushes upward into an empty city,

4) THE MOVING HEXAGRAM

HEXAGRAM 07 – Shih - The Army

This hexagram is made up of the trigrams K'an, water, and K'un, earth, and thus, it symbolizes the ground water stored up in the earth. In the same way military strength is stored up in the mass of the people - invisible in times of peace but always ready for use as a source of power. The attributes of the two trigrams are danger inside and obedience outside. This points to the nature of an army, which at the core is dangerous, while discipline and obedience must prevail outside.

Of the individual lines, the one that controls the hexagram is the strong nine in the second place to which the other lines, all yielding, are subordinate. This line indicates a commander, because it stands in the middle of one of the two trigrams. But since it is in the lower rather than the upper trigram, it represents not the ruler but the efficient general, who maintains obedience in the army by his authority.

THE JUDGMENT

THE ARMY.

The army needs perseverance

And a strong man.

Good fortune without blame.

An army is a mass that needs organization in order to become a fighting force. Without strict discipline nothing can be accomplished, but this discipline must not be achieved by force. It requires a strong man who captures the hearts of the people and awakens their enthusiasm. In order that he may develop his abilities he needs the complete confidence of his ruler, who must entrust him with full responsibility as long as the war lasts. But war is always a dangerous thing and brings with it destruction and devastation. Therefore it should not be resorted to rashly but, like a poisonous drug, should be used as a last recourse.

The justifying cause of a war, and clear and intelligible war aims, ought to be explained to the people by an experienced leader. Unless there is a quite definite war aim to which the people can consciously pledge themselves, the unity and strength of conviction that lead to victory will not be forth coming. But the leader must also look to it that the passion of war and the delirium of victory do not give rise to unjust acts that will not meet with general approval. If justice and perseverance are the basis of action, all goes well.

THE IMAGE

In the middle of the earth is water: The image of THE ARMY.

Thus the superior man increases his masses

By generosity toward the people.

Ground water is invisibly present within the earth. In the same way the military power of a people is invisibly present in the masses. When danger threatens, every peasant becomes a soldier; when the war ends, he goes back to his plow. He who is generous toward the people wins their love, and a people living under a mild rule becomes strong and powerful. Only a people economically strong can be important in military power. Such power must therefore be cultivated by improving the economic condition of the people and by humane government. Only when there is this invisible bond between government and people, so that the people are sheltered by their government as ground water is sheltered by the earth, is it possible to wage a victorious war.

Amgen Inc. AMGN under CEO Kevin W. Sharer

Kevin Sharer’s Performance: ROI= (7.00%) Annualized Return= (0.64%)

SPY’s Performance: ROI= (16.50%) Annualized Return= (1.57%)

Kevin W. Sharer became CEO of Amgen in May 2000. Since then, his performance has been nothing special.

Because he has been CEO for more than a decade, it is important to ask the Oracle once again about his future performance. Going forward, the investor should consider:

· The Judgment points to supreme success.

o The condition: The pushing upward of the good elements encounters no obstruction and is therefore accompanied by great success. The pushing upward is made possible not by violence but by modesty and adaptability. Since the individual is borne along by the propitiousness of the time, he advances.

o The Warning: He must go to see authoritative people. He need not be afraid to do this, because success is assured. But he must set to work, for activity (this is the meaning of "the south") brings good fortune.

· The Moving hexagram – there is no Moving Hexagram which means the Judgment applies entirely to his Time-Space.

Points the investor should consider:

1) THE HEXAGRAM

(Same as Above).

2) THE ADVICE

(Same as Above).

3) THE LINES:

There are no moving lines.

4) THE MOVING HEXAGRAM

There is no moving Hexagram because there are no moving lines. Therefore the Judgment becomes the focus point.

THE JUDGMENT

PUSHING UPWARD

has supreme success.

One must see the great man.

Fear not.

Departure toward the south

Brings good fortune.