Mudeford Sailing Club

A buoyant market?

by our financial correspondent

Buoy 8 at a low point in the market

Most of you will know that the value of Buoys on the open market has been steadily decreasing, following the failure of the Harbour Authorities and others to isolate themselves adequately from the sub-prime Buoy market and a reduction in buoy-to-let opportunities last year.

 Mudeford SC has always been a strong supporter of a buoyant market and you will be pleased to know that our Buoys remain in good condition despite having been in a static market all winter.  Thanks to good management by Mr Ward and your committee, and with only the minimum of inflation, most of the Buoys have been returned to prime locations.  We have retained a small reserve in a non-interest-bearing account under the jetty for use in emergencies.

Two of our Buoys were loaned to Highcliffe SC for a short period when they were over-extended in the market, but they have since been returned with interest and suffered no overall increase in inflation and proved to be leak-free.

 Despite this good news, the Club cannot ignore the overall 10% lowering of value in the Buoy market, so after much deliberation, your committee has decided to issue another Buoy, making the total up to 100%.  This buoy will be known as Buoy 1.0, and will be located between Buoy 1 and Buoy 2.  The committee wishes to stress that although there are 10% more Buoys in the market, the value of the Buoy in your pocket has not been affected.

Club members will also be pleased to know that the International Sailing Federation has taken action to ensure that the Buoy market is not subject to unnecessary pressure. They have increased the zone from 2 to 3 boat-lengths, giving sailors less time in the uncertain waters between buoys, and more time for mature consideration in the event of a dispute.

In a parallel move designed to stabilise the start-up procedures for local sailors, a Mark has been placed at the end of the line.  This will prevent sailors over-extending their accounts during the last 5 minutes of trading before each opening time.  This Mark will be known as "Mark's Mark" and the committee wish to state that although Marks are currently trading at M = 0.57 Buoys (ie the Buoy is worth 1.75 Marks) there is no plan to devalue the Buoys by further placement of Marks, and Mark's Mark will have no effect on currency variations between the Buoy and the Mark. 

I hope that is clear.

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