Tuesday, 23 May 2017

President Trump is a danger to investors' portfolios

Yeah, PR email. From Nigel again. Well, his mate George sent it.

President Trump poses the greatest risk for regular investors in the world - even ahead of a possible recession in China - but there are also important opportunities, affirms the CEO of one of the world's largest financial services organizations.

Opportunities? Okay. / Yeah, the Bubbles deVere Group. It's Nigel Green. There's a bit about what Trump has been up to lately, the scandals, etc. Well, we know all that. We're not hermits. But then he continues ...

He continues: "Against this backdrop of recent events, President Trump and his administration is the single biggest threat to investors' portfolios in the near term for four key reasons. First, the ongoing scandals could quite feasibly distract the Trump administration from its agenda of tax cuts, deregulation, infrastructure spending and other pro-business legislative measures, which are hoped would have beneficial effects for investors. Second, whilst in many ways, Trump appears to be less of a geopolitical risk now that he was at the beginning of his tenure, whichever way you look at it, his administration is chaotic and unpredictable - and history shows that financial markets loathe uncertainty. This was demonstrated by last week's panicked sell-offs. Calls growing for Trump to be impeached are growing and the risk of this happening has substantially increased since the announcement last week of a special prosecutor being appointed to look into his alleged Russian links. Clearly this is creating uncertainty. Whilst these waves of turbulence might be brushed off as a 'bump in the road', all too often investors are tempted to overreact and this can have disastrous consequences for their portfolios. Investors should have longer-term horizons for the optimum results, as stock markets generally go up over time, but acknowledge that there will be ups and downs along the way. The unprecedented media circus around Trump magnifies the situation and this could lead to investors reacting in a knee-jerk manner that could be detrimental. Third, with such media scrutiny, investors could miss other important geopolitical and economic risks that could affect markets and, therefore, returns. These include the downturn in China's credit impulse that could create an important drag on Chinese growth in the near future. Of course, this could have serious and far-reaching consequences - yet few people are as interested in this, or other key risks, as they are in Trump. And fourth, it could be reasonably argued that a market correction is needed and that Trump and the scandals following him could be the catalyst for this."

Okay. "History shows that financial markets loathe uncertainty." Well, the markets should grow up then. Everything is uncertain, all the time. / But he concludes!

Nigel Green concludes: "Being the CEO of the world's largest economy, a U.S. president's actions and policies will always have an effect on markets and, therefore investors' returns. But Trump's unpredictability, the scandals that swirl around him, and the media's obsession and magnification, make this a unique set of circumstances. Trump is creating volatility and is likely to continue to do so. But whilst this can pose a real threat to those who are unprepared, complacent, or who overreact, volatility is good for markets and savvy investors alike, because it generates important investment opportunities."

All right. Thanks for that, Nigel. It's always nice to hear from you.

...

Trump will go soon. Or maybe he'll stay. It doesn't matter. President Pence won't be too wonderful either.

What did the great Aristotle Onassis say? He said: "We must free ourselves of the hope that the sea will ever rest. We must learn to sail in high winds."

That's some of the best advice you will ever get, dear reader(s).

Monday, 22 May 2017

[No. 514] Manifesto of chaos

I'm weak and wobbly! Don't ask me to lead the country, my kooks.

And ... help![1], and Michael Fowke for PM - ?!?! / Are you insane?![1], and ... help![2], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[1], and Michael Fowke for PM - ?!?! / Are you insane?![2], and, Jesus, save me![1], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[2], and I'm having the mother of all meltdowns ...[1], and, Jesus, save me![2], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![1], and I'm having the mother of all meltdowns ...[2], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[1], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![2], and, Lord, have mercy![1], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[2], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[1], and, Lord, have mercy![2], and give me your fucking house![1], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[2], and if only Biff Tannen were here to hold my hand ...[1], and give me your fucking house![2], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[1], and if only Biff Tannen were here to hold my hand ...[2], and don't look at me[1], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[2], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[1], and don't look at me[2], and I never wanted to be your leader[1], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[2], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[1], and I never wanted to be your leader[2], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![1], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[2], and don't believe what they say! / Oh, it's fake, fake, fake ...[1], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![2], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![1], and don't believe what they say! / Oh, it's fake, fake, fake ...[2], and give me everything you own[1], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![2], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[1], and give me everything you own[2], and ... what a shambles![1], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[2], and ... help![3], and ... what a shambles![2], and Michael Fowke for PM - ?!?! / Are you insane?![3], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[3], and, Jesus, save me![3], and I'm having the mother of all meltdowns ...[3], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![3], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[3], and, Lord, have mercy![3], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[3], and give me your fucking house![3], and if only Biff Tannen were here to hold my hand ...[3], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[3], and don't look at me[3], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[3], and I never wanted to be your leader[3], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[3], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![3], and don't believe what they say! / Oh, it's fake, fake, fake ...[3], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![3], and give me everything you own[3], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[3], and ... what a shambles![3], and

And ... help![1], and Michael Fowke for PM - ?!?! / Are you insane?![1], and ... help![2], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[1], and Michael Fowke for PM - ?!?! / Are you insane?![2], and, Jesus, save me![1], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[2], and I'm having the mother of all meltdowns ...[1], and, Jesus, save me![2], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![1], and I'm having the mother of all meltdowns ...[2], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[1], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![2], and, Lord, have mercy![1], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[2], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[1], and, Lord, have mercy![2], and give me your fucking house![1], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[2], and if only Biff Tannen were here to hold my hand ...[1], and give me your fucking house![2], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[1], and if only Biff Tannen were here to hold my hand ...[2], and don't look at me[1], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[2], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[1], and don't look at me[2], and I never wanted to be your leader[1], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[2], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[1], and I never wanted to be your leader[2], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![1], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[2], and don't believe what they say! / Oh, it's fake, fake, fake ...[1], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![2], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![1], and don't believe what they say! / Oh, it's fake, fake, fake ...[2], and give me everything you own[1], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![2], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[1], and give me everything you own[2], and ... what a shambles![1], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[2], and ... help![3], and ... what a shambles![2], and Michael Fowke for PM - ?!?! / Are you insane?![3], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[3], and, Jesus, save me![3], and I'm having the mother of all meltdowns ...[3], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![3], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[3], and, Lord, have mercy![3], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[3], and give me your fucking house![3], and if only Biff Tannen were here to hold my hand ...[3], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[3], and don't look at me[3], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[3], and I never wanted to be your leader[3], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[3], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![3], and don't believe what they say! / Oh, it's fake, fake, fake ...[3], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![3], and give me everything you own[3], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[3], and ... what a shambles![3], and

And ... help![1], and Michael Fowke for PM - ?!?! / Are you insane?![1], and ... help![2], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[1], and Michael Fowke for PM - ?!?! / Are you insane?![2], and, Jesus, save me![1], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[2], and I'm having the mother of all meltdowns ...[1], and, Jesus, save me![2], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![1], and I'm having the mother of all meltdowns ...[2], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[1], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![2], and, Lord, have mercy![1], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[2], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[1], and, Lord, have mercy![2], and give me your fucking house![1], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[2], and if only Biff Tannen were here to hold my hand ...[1], and give me your fucking house![2], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[1], and if only Biff Tannen were here to hold my hand ...[2], and don't look at me[1], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[2], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[1], and don't look at me[2], and I never wanted to be your leader[1], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[2], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[1], and I never wanted to be your leader[2], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![1], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[2], and don't believe what they say! / Oh, it's fake, fake, fake ...[1], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![2], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![1], and don't believe what they say! / Oh, it's fake, fake, fake ...[2], and give me everything you own[1], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![2], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[1], and give me everything you own[2], and ... what a shambles![1], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[2], and ... help![3], and ... what a shambles![2], and Michael Fowke for PM - ?!?! / Are you insane?![3], and ... NOTHING HAS CHANGED - !!! / ... and I'm still DIZZY(!) after all these spins / Man, I love the lifestyle[3], and, Jesus, save me![3], and I'm having the mother of all meltdowns ...[3], and ... NOTHING HAS CHANGED - !!! / oh, hear me screech! / and I'm not panicking![3], and I am so strong and stable, believe me, ha! / No, no, no, it's not a fake claim[3], and, Lord, have mercy![3], and I know some of YOU(!) want me to be prime minister ... but I'm really not up to it, seriously[3], and give me your fucking house![3], and if only Biff Tannen were here to hold my hand ...[3], and maybe, just maybe ... there is someone so calm ... who can lead you to the promised land[3], and don't look at me[3], and I'm a sha, sha, sha ... man / and I'm totally unsuited to the real world, you dig?[3], and I never wanted to be your leader[3], and I was happy writing my blog, strumming my guitar / Oh, I have no ideas for society[3], and I'm shaking, and I can't control my voice - 'Me?!' - No, my voice, you idiot![3], and don't believe what they say! / Oh, it's fake, fake, fake ...[3], and maybe, just maybe ... I'm absolutely DEMENTED - !!! / Fools, I'm not fit to rule![3], and give me everything you own[3], and, you, you, YOU(!) - !!! ... !!! / uh ... turn, turn, turn ... a-ROUND here[3], and ... what a shambles![3], and

Johan Boork, Jan Kux, Guntram Kieferle, and Constance d'Avout

Well, well ... / Who are these guys and girl?! ... You're probably wondering, dear reader(s). 'They sound foreign, boss.' Excuse me, Voice! None of that talk here! Thank you. 'I ain't a conservative! I was just saying, thinking.' Keep your thoughts to yourself, idiot!

Johan Boork has joined Silverfleet in London as an Associate and will also work closely with Karl Eidem (Co-head of the Nordic region) based in Stockholm. Jan Kux and Guntram Kieferle both join Silverfleet's Munich office as an Associate and Analyst, respectively and Constance d'Avout joins the firm as an Associate in Paris.

 
Yes, it's the Monday morning PR email, back by popular demand. / Let's get it done!

Silverfleet Capital builds its team in London, Munich and Paris

Silverfleet Capital ("Silverfleet"), the European private equity firm, is pleased to announce four new hires to its investment team who will be based across the firm's offices in London ("Peckham"), Munich and Paris.

Johan Boork has joined Silverfleet in London as an Associate and will also work closely with Karl Eidem (Co-head of the Nordic region) based in Stockholm. Jan Kux and Guntram Kieferle both join Silverfleet's Munich office as an Associate and Analyst, respectively and Constance d'Avout joins the firm as an Associate in Paris.


Er ... is there an echo in here? 'You've repeated that last paragraph, boss.' Well, there's no harm in it, Voice. I'll be repeating a lot more later. 'No. 514?' You bet your ass No. 514! / So, who are they?

Johan Boork, a Swedish national, previously worked within the Nordics coverage team of UBS Investment Bank in London. Johan graduated from the Stockholm School of Economics with an MSc in Finance and holds a BSc in Industrial Engineering and Management from the Chalmers University of Technology and a BSc in Financial Economics from the University of Gothenburg.

Nice.

Jan Kux joins the firm from J.P. Morgan where he worked in corporate finance out of J.P. Morgan's offices in Frankfurt and latterly London. Jan graduated from Ludwig-Maximilians University in Munich with a BSc in Business Administration.
 
Nice.

Guntram Kieferle initially joined Silverfleet as an intern in 2016 following his graduation from Munich University of Applied Sciences with an MSc in Finance. Guntram also has a BA in International Business Studies from the University of Applied Sciences, Kufstein.

 
Nice.

Constance d'Avout was previously at EQT Partners in London where she worked in the credit funds team. Constance is a graduate of EM Lyon in France with a Masters degree in Management.

Very nice. 'Great, boss! They sound like great guys, and a girl!' Yes, but what does Neil MacDougall think about all this? And how does he feel? Is he happy or maybe ... pleased? 'Maybe he's disgusted.' Well, we just don't know, man. 'Ha! Yes we do! Look! -'

Neil MacDougall, Managing Partner of Silverfleet Capital commented: "We are very pleased to welcome Constance, Guntram, Jan and Johan into our team at Silverfleet Capital. Their appointment reflects our continued commitment to develop strong investment teams in each of the regions in which we invest. So far we have made four investments out of the €870 million fund we closed in mid-2015 and with an expanded team we expect to add to that portfolio soon." 

Nice one, Neil! I'm glad you're pleased, son.

...

Right. Anything else?

Politics? The Conservatives plan to confiscate the wealth of every single normal person in the country. 'What?! Are you sure about this, boss?' Man, rich people can afford to pay for care without selling their homes, you dig? But if you're not rich, you will lose EVERYTHING. 'Oh.' Your children will get NOTHING. [Actually, they'll get £100,000 - which will presumably be stolen in some other evil manner.] 'Christ!' Worth thinking about, ain't it?

Oh, are the companies that provide care going to put their prices up now? I mean, they can charge what they want if everyone's house is up for grabs.

However ... I hate politics. That's the last of it. No more!

Music? Ah, I'm not writing about music no more neither. 'Oh, do you hate music, too?' No. I just don't want to talk about it. 'What's wrong, Mikey?' I've scrapped that new song. 'Oh dear. Why?' I don't like it. END.

But I'll use that melody again ...

Thursday, 18 May 2017

MoneyConf - ?!

Last year I was invited to Barcelona. Now it's Madrid. Christ! Man, I don't like travelling. Why can't they hold these things in Cornwall? 'What's this, boss?' MoneyConf, Voice. 'And what the hell is that?!' Ha! It's another conference I've been invited to. It's supposed to be Europe's largest tech and finance event. 'They must love you.' Everyone loves me, son. But I ain't going to Madrid.

We want to build together a conversation around the future of banking and finance, especially in the time of Brexit negotiations and volatile US market volatility. 

Fair enough. But they'll have to do it without me. 'It sounds all right, boss.' I ain't going.

What is Europe's next move for the industry and how are technology and the internet re-shaping the fintech space?

I have no idea. 'No?' I really have no idea. And why do they imagine that I do?

Some confirmed speakers for this year, at this very early stage, include:

Bernardo Sanchez Incera, Deputy CEO of Societe Generale
Samir Desai, Co-Founder & CEO of Funding Circle
Peter Smith, Founder & CEO of Blockchain
Bernardo Sanchez Incera, Deputy CEO of Societe Generale
Taavet Hinrikus, Co-Founder & CEO of TransferWise
Ignacio Julia Vilar, Chief Innovation Officer of ING Group
Kathryn Petralia, Co-Founder & COO of Kabbage Inc


Well, I'm sure they're a great bunch of lads. 'And Kathryn, boss!' Yes, and Kathryn. / Oh, there's more!

In brief -

Madrid, Spain, June 6-7, 2017

2,000+ global leaders in banking, capital markets, wealth management, insurance and commerce (spanning the breadth of the tech world and beyond - founders and CEOs of tech giants, banking execs, VC investors from the top global funds)

Journalists (from media like Bloomberg, Reuters, Forbes, WSJ, CNBC, etc)


Yeah, and financial shamans and disembodied voices from Money is the way. It sounds amazing. 'Ha!' I genuinely hope that everyone involved has an amazing time, too. 'But you can't make it, boss.' No, I can't make it, Voice.

...

Anything else? Well, not much. This is the last post of the week. I can tell you, dear reader(s), that I've started writing the lyric for my new tune, the latest "dream" one. Maybe I'll finish it today. / I read in the Sun recently that John Mayer is the greatest singer-songwriter currently working in the world. Well, we'll see about that ...



Update (19/5): I've finished that song, man. It only took four days, too! I've got to decide now if I should put it on the demo as a fifth song or replace the fourth song with it and have only four songs, you dig? Five might be too much. / Anyway, have a nice weekend, pop fan(s)!

Wednesday, 17 May 2017

[No. 513] Profit is for squares

Free your mind!

And shaman says ...[1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[1], and shaman says ...[2], and look at me ... / ah, never been so happy![1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[2], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[1], and look at me ... / ah, never been so happy![2], and ... tell me![1], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[2], and what are you waiting for, a written invitation?[1], and ... tell me![2], and get so DIZZY(!) here ... NOW - !!![1], and what are you waiting for, a written invitation?[2], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[1], and get so DIZZY(!) here ... NOW - !!![2], and they can take my money, every last penny![1], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[2], and, but ... they won't get my heart, no, no, no![1], and they can take my money, every last penny![2], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[1], and, but ... they won't get my heart, no, no, no![2], and can you dig it?[1], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[2], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[1], and can you dig it?[2], and I respect all kooks ... / The mystic ones are golden![1], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[2], and I know you, YOU(!) ... gotta eat, but ...[1], and I respect all kooks ... / The mystic ones are golden![2], and keep on working until you're dead? Uh, really?! / Well, I don't know[1], and I know you, YOU(!) ... gotta eat, but ...[2], and it's your choice, yeah?[1], and keep on working until you're dead? Uh, really?! / Well, I don't know[2], and you could choose me and my wisdom[1], and it's your choice, yeah?[2], and I see you in the office ... oh, astral eyes[1], and you could choose me and my wisdom[2], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[1], and I see you in the office ... oh, astral eyes[2], and accept me as your master[1], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[2], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[1], and accept me as your master[2], and spin, spin, spin, baby![1], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[2], and shaman says ...[3], and spin, spin, spin, baby![2], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[3], and look at me ... / ah, never been so happy![3], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[3], and ... tell me![3], and what are you waiting for, a written invitation?[3], and get so DIZZY(!) here ... NOW - !!![3], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[3], and they can take my money, every last penny![3], and, but ... they won't get my heart, no, no, no![3], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[3], and can you dig it?[3], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[3], and I respect all kooks ... / The mystic ones are golden![3], and I know you, YOU(!) ... gotta eat, but ...[3], and keep on working until you're dead? Uh, really?! / Well, I don't know[3], and it's your choice, yeah?[3], and you could choose me and my wisdom[3], and I see you in the office ... oh, astral eyes[3], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[3], and accept me as your master[3], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[3], and spin, spin, spin, baby![3], and

And shaman says ...[1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[1], and shaman says ...[2], and look at me ... / ah, never been so happy![1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[2], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[1], and look at me ... / ah, never been so happy![2], and ... tell me![1], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[2], and what are you waiting for, a written invitation?[1], and ... tell me![2], and get so DIZZY(!) here ... NOW - !!![1], and what are you waiting for, a written invitation?[2], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[1], and get so DIZZY(!) here ... NOW - !!![2], and they can take my money, every last penny![1], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[2], and, but ... they won't get my heart, no, no, no![1], and they can take my money, every last penny![2], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[1], and, but ... they won't get my heart, no, no, no![2], and can you dig it?[1], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[2], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[1], and can you dig it?[2], and I respect all kooks ... / The mystic ones are golden![1], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[2], and I know you, YOU(!) ... gotta eat, but ...[1], and I respect all kooks ... / The mystic ones are golden![2], and keep on working until you're dead? Uh, really?! / Well, I don't know[1], and I know you, YOU(!) ... gotta eat, but ...[2], and it's your choice, yeah?[1], and keep on working until you're dead? Uh, really?! / Well, I don't know[2], and you could choose me and my wisdom[1], and it's your choice, yeah?[2], and I see you in the office ... oh, astral eyes[1], and you could choose me and my wisdom[2], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[1], and I see you in the office ... oh, astral eyes[2], and accept me as your master[1], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[2], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[1], and accept me as your master[2], and spin, spin, spin, baby![1], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[2], and shaman says ...[3], and spin, spin, spin, baby![2], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[3], and look at me ... / ah, never been so happy![3], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[3], and ... tell me![3], and what are you waiting for, a written invitation?[3], and get so DIZZY(!) here ... NOW - !!![3], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[3], and they can take my money, every last penny![3], and, but ... they won't get my heart, no, no, no![3], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[3], and can you dig it?[3], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[3], and I respect all kooks ... / The mystic ones are golden![3], and I know you, YOU(!) ... gotta eat, but ...[3], and keep on working until you're dead? Uh, really?! / Well, I don't know[3], and it's your choice, yeah?[3], and you could choose me and my wisdom[3], and I see you in the office ... oh, astral eyes[3], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[3], and accept me as your master[3], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[3], and spin, spin, spin, baby![3], and

And shaman says ...[1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[1], and shaman says ...[2], and look at me ... / ah, never been so happy![1], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[2], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[1], and look at me ... / ah, never been so happy![2], and ... tell me![1], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[2], and what are you waiting for, a written invitation?[1], and ... tell me![2], and get so DIZZY(!) here ... NOW - !!![1], and what are you waiting for, a written invitation?[2], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[1], and get so DIZZY(!) here ... NOW - !!![2], and they can take my money, every last penny![1], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[2], and, but ... they won't get my heart, no, no, no![1], and they can take my money, every last penny![2], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[1], and, but ... they won't get my heart, no, no, no![2], and can you dig it?[1], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[2], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[1], and can you dig it?[2], and I respect all kooks ... / The mystic ones are golden![1], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[2], and I know you, YOU(!) ... gotta eat, but ...[1], and I respect all kooks ... / The mystic ones are golden![2], and keep on working until you're dead? Uh, really?! / Well, I don't know[1], and I know you, YOU(!) ... gotta eat, but ...[2], and it's your choice, yeah?[1], and keep on working until you're dead? Uh, really?! / Well, I don't know[2], and you could choose me and my wisdom[1], and it's your choice, yeah?[2], and I see you in the office ... oh, astral eyes[1], and you could choose me and my wisdom[2], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[1], and I see you in the office ... oh, astral eyes[2], and accept me as your master[1], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[2], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[1], and accept me as your master[2], and spin, spin, spin, baby![1], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[2], and shaman says ...[3], and spin, spin, spin, baby![2], and your mind is a mess, son, or daughter / Christ! Someone's got to be honest with you, YOU(!), you dig?[3], and look at me ... / ah, never been so happy![3], and they say that money makes the world go round, ha! / ... but what makes your soul go a-ROUND, my friend(s)?[3], and ... tell me![3], and what are you waiting for, a written invitation?[3], and get so DIZZY(!) here ... NOW - !!![3], and I'm bleeding thought in words and pain in feelings just to save your wretched ass[3], and they can take my money, every last penny![3], and, but ... they won't get my heart, no, no, no![3], and a-ROUND, and a-ROUND, and a-ROUND ... / and this is how we do things outside reality[3], and can you dig it?[3], and if you're on my wavelength, you know I'm gonna take my hat off to you, man[3], and I respect all kooks ... / The mystic ones are golden![3], and I know you, YOU(!) ... gotta eat, but ...[3], and keep on working until you're dead? Uh, really?! / Well, I don't know[3], and it's your choice, yeah?[3], and you could choose me and my wisdom[3], and I see you in the office ... oh, astral eyes[3], and if your boss is giving you grief, send the fucking idiot my way / I'll deal with the problem[3], and accept me as your master[3], and a-ROUND, and a-ROUND, and a-ROUND ... NOW - !!! / There's nothing else for our sort[3], and spin, spin, spin, baby![3], and

Aviva Investors and the profits

Jesus H. Christ! Profits? Profits? Profits? What the hell are profits?! 'Profits are for squares, boss.' Tell me about it! / I've just found this old story on the internet about some shareholder complaining about a lack of profit at Aviva Investors. 'How old?' Er ... oh, only a week or so, actually. So it's still going on, the moaning. 'Some people are never happy, boss.' Well, Voice, I won't name this guy because it's a sensitive matter, you dig? 'Yeah.' I mean, we don't know what's happening in this guy's life. 'No, we don't.' We don't know his emotional state. 'No, we don't.' But I will say this ...

There's more to life than making a profit. You dig, reader(s)? The boys and girls at Aviva Investors are beautiful people. 'And they're led by a great guy, Euan Munro.' Listen, man, Euan Munro is a personal friend of mine, and I won't hear a word said against him. 'Man, he's a great guy.' Good.

Well, well ... / Okay, okay. I've just looked out the window. Sure, the weather ain't too wonderful today, but it's nearly the summer season. The Aviva Investors crowd will be in the park soon. [I think they've had a few days already.] 'Big time!' Yeah. Now, what are we going to tell them? Sorry, guys, the summer season is cancelled. Get back in the office, and manage those funds! 'Ha! They won't go for that, boss. They just won't. And, anyway, where does Schroders come into it?' Oh, good point, Voice. I'm glad you mentioned Schroders. I mean, what is Schroders doing now? I know they have their own funds to manage, but, uh ... 'It's a shame, if they're letting things slide.' Well, never mind. I don't want to be too critical. They do the best they can. 'Yes.' In a perfect world, man, the Schroders mob would be in the park, too. 'Aviva Investors are trailblazers, boss!' Of course they are!

Oh, profits, eh? / Right. I've said what I needed to say. So, let's hear no more bullshit talk about Aviva Investors being sold off.

...

Anything else? Politics? I ain't talking about the UK, reader(s). It's really boring compared to the US. 'Ha!' / Well, what are the Republicans going to do? Are they going to abandon ship ... soon, or are they going to go down with Trump? 'Who cares?!' What did I say a few months ago? 'I don't know, boss.' I said something like, er ... Trump and Brexit are the last dying spasms of conservatism. 'Cool!' I stand by that.

Laters, blog fans!

Tuesday, 16 May 2017

Some blockchain privacy thing, I don't know

Well, well ... / Yeah, a PR email all the way from Washington, DC. 'Wow! So exotic, boss. You know so many interesting people.' I don't know anyone, son. They know me.

Or maybe it's from Luxembourg, or France. It's hard to say. I don't even know if it's proper financial news, really. 'Christ! Get a grip!' However, it's blockchain, so ...

LuxTrust and Cambridge Blockchain Announce Privacy-Protecting Identity Platform for Europe

WASHINGTON, DC - May 15, 2017 - LuxTrust S.A., the leading European Trust Services Provider, and Cambridge Blockchain LLC, the Massachusetts-based pioneer in digital identity enterprise software, today announced the development of a new privacy-protecting European identity platform. The platform will offer businesses and consumers a trusted environment to exchange and manage personal data online, in full compliance with strict data privacy rules such as the European General Data Protection Regulation (GDPR). Initial applications cover rapid onboarding and know-your-customer checks for financial service providers, with plans to manage a broad range of personal data sources such as health records and Internet of Things devices.


Oh, financial service providers! Pretty exciting, eh? 'Ain't you got nothing else, boss?' Ha! Only an email from a gold nut claiming that loads of NHS workers have started buying gold. 'Oh, would that be the nurses who are having to visit food banks?' Yeah. They've got spare cash lying around to buy gold bars, according to this nut. / Ah, never mind. Let's do the rest of the blockchain thing ...

"LuxTrust is committed to providing better identities for people and things," said Pascal Rogiest, CEO of LuxTrust. "Working with Cambridge Blockchain allows us to augment the scope of provided identities, including attributes for new sectors and businesses, and will enable users to share personal data fully respecting the increasingly stringent European regulatory framework. We are very excited to innovate together, filling the gaps in compliance, security and trust needed to accelerate expanding digital, personalized and automated services across Europe and worldwide."

Okay, okay, okay. 'Uh.' What does Matthew Commons say? 'Do you know him?' Ha!

The platform will instill state-of-the-art "privacy by design" principles outlined in the GDPR to provide quick onboarding, attribute, consent management and compliance services for natural persons, legal entities and devices with full transparency and auditability of transactions. Data and privacy policies are established through a single comprehensive system, accessible via user-friendly mobile and web applications.

Er ... that's not our Matthew. Matthew! 'Hang on, boss.' Matthew, mate, where are you? 'Here he is!' Thank God!

"Luxembourg is the ideal place to launch this platform," remarked Matthew Commons, CEO of Cambridge Blockchain. "By combining LuxTrust's current services such as authentication, signature and document management with our innovative blockchain-based enterprise software, our collaboration will deliver the future of digital identity for Europe and beyond."

Nice one, Matthew!

...

Right. Anything else? Music? I finished that "dream" tune last night. I got the chords for it, and added a new bit of melody - the best bit, by the way. It only took me a minute, and the song is three and a half minutes long. 'It took you longer than that, Mikey. I was watching.' Well, I spent a couple of hours getting the structure right, smart-arse. But that wasn't writing, just messing about. / So, if I get a good lyric for it soon, it could be the fifth song on my demo. 'Ha! How many fucking songs are going to be on this demo, man?' Maybe five now, Voice. Not that it's got anything to do with you.

Later(s), reader(s), crocodile(s).

Monday, 15 May 2017

[No. 512] Do it again

Okay. Okay. Okay.

And, hello, it's nice to see you / ... / well, again[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![1], and, hello, it's nice to see you / ... / well, again[2], and it takes all sorts, I suppose[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![2], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![1], and it takes all sorts, I suppose[2], and there is no END, apparently ... 'Great, Mikey!'[1], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![2], and do it, do it, do it![1], and there is no END, apparently ... 'Great, Mikey!'[2], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[1], and do it, do it, do it![2], and what do you want, seriously?[1], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[2], and you need my help ... uh, getting a-ROUND?[1], and what do you want, seriously?[2], and FFS! ... it's so easy, man![1], and you need my help ... uh, getting a-ROUND?[2], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[1], and FFS! ... it's so easy, man![2], and that weekend in the college ... Jesus![1], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[2], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[1], and that weekend in the college ... Jesus![2], and they all call me THE shaman, all of them, yes, THE, so ...[1], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[2], and I get off on the respect[1], and they all call me THE shaman, all of them, yes, THE, so ...[2], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[1], and I get off on the respect[2], and I get my kicks here all the time ...[1], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[2], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[1], and I get my kicks here all the time ...[2], and there's still a heaven beyond the THREE to come ...[1], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[2], and, one, two ...[1], and there's still a heaven beyond the THREE to come ...[2], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[1], and, one, two ...[2], and, so ... keep the faith, my kook(s)![1], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[2], and, bye![1], and, so ... keep the faith, my kook(s)![2], and, hello, it's nice to see you / ... / well, again[3], and, bye![2], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![3], and it takes all sorts, I suppose[3], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![3], and there is no END, apparently ... 'Great, Mikey!'[3], and do it, do it, do it![3], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[3], and what do you want, seriously?[3], and you need my help ... uh, getting a-ROUND?[3], and FFS! ... it's so easy, man![3], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[3], and that weekend in the college ... Jesus![3], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[3], and they all call me THE shaman, all of them, yes, THE, so ...[3], and I get off on the respect[3], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[3], and I get my kicks here all the time ...[3], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[3], and there's still a heaven beyond the THREE to come ...[3], and, one, two ...[3], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[3], and, so ... keep the faith, my kook(s)![3], and, bye![3], and

And, hello, it's nice to see you / ... / well, again[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![1], and, hello, it's nice to see you / ... / well, again[2], and it takes all sorts, I suppose[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![2], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![1], and it takes all sorts, I suppose[2], and there is no END, apparently ... 'Great, Mikey!'[1], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![2], and do it, do it, do it![1], and there is no END, apparently ... 'Great, Mikey!'[2], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[1], and do it, do it, do it![2], and what do you want, seriously?[1], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[2], and you need my help ... uh, getting a-ROUND?[1], and what do you want, seriously?[2], and FFS! ... it's so easy, man![1], and you need my help ... uh, getting a-ROUND?[2], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[1], and FFS! ... it's so easy, man![2], and that weekend in the college ... Jesus![1], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[2], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[1], and that weekend in the college ... Jesus![2], and they all call me THE shaman, all of them, yes, THE, so ...[1], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[2], and I get off on the respect[1], and they all call me THE shaman, all of them, yes, THE, so ...[2], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[1], and I get off on the respect[2], and I get my kicks here all the time ...[1], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[2], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[1], and I get my kicks here all the time ...[2], and there's still a heaven beyond the THREE to come ...[1], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[2], and, one, two ...[1], and there's still a heaven beyond the THREE to come ...[2], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[1], and, one, two ...[2], and, so ... keep the faith, my kook(s)![1], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[2], and, bye![1], and, so ... keep the faith, my kook(s)![2], and, hello, it's nice to see you / ... / well, again[3], and, bye![2], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![3], and it takes all sorts, I suppose[3], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![3], and there is no END, apparently ... 'Great, Mikey!'[3], and do it, do it, do it![3], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[3], and what do you want, seriously?[3], and you need my help ... uh, getting a-ROUND?[3], and FFS! ... it's so easy, man![3], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[3], and that weekend in the college ... Jesus![3], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[3], and they all call me THE shaman, all of them, yes, THE, so ...[3], and I get off on the respect[3], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[3], and I get my kicks here all the time ...[3], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[3], and there's still a heaven beyond the THREE to come ...[3], and, one, two ...[3], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[3], and, so ... keep the faith, my kook(s)![3], and, bye![3], and

And, hello, it's nice to see you / ... / well, again[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![1], and, hello, it's nice to see you / ... / well, again[2], and it takes all sorts, I suppose[1], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![2], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![1], and it takes all sorts, I suppose[2], and there is no END, apparently ... 'Great, Mikey!'[1], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![2], and do it, do it, do it![1], and there is no END, apparently ... 'Great, Mikey!'[2], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[1], and do it, do it, do it![2], and what do you want, seriously?[1], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[2], and you need my help ... uh, getting a-ROUND?[1], and what do you want, seriously?[2], and FFS! ... it's so easy, man![1], and you need my help ... uh, getting a-ROUND?[2], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[1], and FFS! ... it's so easy, man![2], and that weekend in the college ... Jesus![1], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[2], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[1], and that weekend in the college ... Jesus![2], and they all call me THE shaman, all of them, yes, THE, so ...[1], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[2], and I get off on the respect[1], and they all call me THE shaman, all of them, yes, THE, so ...[2], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[1], and I get off on the respect[2], and I get my kicks here all the time ...[1], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[2], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[1], and I get my kicks here all the time ...[2], and there's still a heaven beyond the THREE to come ...[1], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[2], and, one, two ...[1], and there's still a heaven beyond the THREE to come ...[2], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[1], and, one, two ...[2], and, so ... keep the faith, my kook(s)![1], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[2], and, bye![1], and, so ... keep the faith, my kook(s)![2], and, hello, it's nice to see you / ... / well, again[3], and, bye![2], and forward, yes? / and, no, no, no ...  what, BACK(!) - ? - Ha, ha, ha, Jack![3], and it takes all sorts, I suppose[3], and here I am, yippee! / and, oh ... here YOU(!) are ... / ... and we're doing it again![3], and there is no END, apparently ... 'Great, Mikey!'[3], and do it, do it, do it![3], and a-ROUND, and a-ROUND, and a-ROUND - NOW! ... / and you're no high climber, babe[3], and what do you want, seriously?[3], and you need my help ... uh, getting a-ROUND?[3], and FFS! ... it's so easy, man![3], and I'm a fool to do your dirty work ... so spin for yourself, yes, under your own steam[3], and that weekend in the college ... Jesus![3], and if you want to be saved, I can save you ... but it's gonna cost you / oh, my MAGIC SHIT don't come cheap[3], and they all call me THE shaman, all of them, yes, THE, so ...[3], and I get off on the respect[3], and I'm still spinning after all these years ... / and I'll never get bored of the lifestyle, you dig?[3], and I get my kicks here all the time ...[3], and I'll never go back to the desert / Man, it's a mug's game with sand in your hair[3], and there's still a heaven beyond the THREE to come ...[3], and, one, two ...[3], and some of us choose the DIZZY(!) life ... / and some of us are chosen by it[3], and, so ... keep the faith, my kook(s)![3], and, bye![3], and

Who is Jerome Saragoussi?

Well, well ... / I'm in a reasonably good mood this morning, dear readers(s). I woke up at four. 'What?! That would put me in a bad mood, boss.' Yes, Voice, but I had a new tune in my head. 'Oh.' Yeah, I sang it into my Zoom Handy recorder thing, and then I went back to sleep. 'Nice one!' So, I'm in a good mood. 'Okay. What about this Saragoussi character then? Who the hell is he?' Eh? Saragoussi?! Er ... oh, you mean Jerome? Our Jerome, ha!

Christ! Well, you see, our Jerome has just been hired by Light Sky Macro to be its director of trading strategy. He was - maybe still is, I don't know if he's left yet, but he has resigned - a big noise at Deutsche Bank where he was - or, uh, er, still is - director of rates, volatility, and relative value. 'Oh, I doubt he's hanging around, boss. He probably wants to get started at Light Sky Macro as soon as possible.' Yes. He's definitely a man of action, this Jerome, our Jerome. 'What is Light Sky Macro?' Ha! Don't you know anything, Voice? It's a new hedge fund. 'Yeah? Brilliant! Founded by ... ?' Founded by Benny Melkman, man! 'Oh. Who's he?!' I have absolutely no idea who he is. Just a hedge fund founder, that's enough.

Well, well ... / Of course, Bloomberg says: Light Sky Macro LP operates as an investment firm. The Company offers investment advisory and portfolio management services. Which is really helpful. 'I reckon we'd be lost without Bloomberg, boss.' Oh, you reckon?

Anyway. More details, dear reader(s)? The hedge fund is based in New York. 'In America?' Yes, Voice, New York in America. And it has - or should have - roughly $400 million in lovely AUM. 'Great! I love AUM, boss.' We all do, son.

...

Anything else, reader(s)? Music? I'm listening to a selection of album tracks which aren't filler. There's an art to such songs, you know. Think of Lennon's Doctor Robert or She Said She Said on Revolver. They're not single quality, but you wouldn't skip them when playing the album. However, you might skip Harrison's Love You To and I Want To Tell You on the same album.

Later? No. 512. So, laters.

Thursday, 11 May 2017

Emerging market debt

All right, all right. Last post of the week, blog fan(s)! Let's get it done, and then "We" can have some fun. 'Who's "We", boss?' Uh, me, Voice!

Anyway, this looks exciting. A PR email, a market snapshot of emerging market debt. 'Yeah, great.' Don't be like that, man.

EM debt outlook remains favourable despite Chinese economic growth slowdown.

Recent reforms and fiscal adjustments in several key countries, including Argentina, Brazil and India, support the outlook for Emerging Market Debt, according to NN Investment Partners.


Okay. NN Investment Partners. Who are they? 'I don't know.' Never mind. / Let's hear more!

NN IP's EM Fiscal Momentum Indicator has fallen to -0.29 (compared to +0.57 end of March). A negative reading implies governments are tightening fiscal policy and securing more tax revenue. The Indicator ranges between +/-3 and gauges the policies of 21 main EMs.

Okay. And what does Maarten say? 'Martin?' No, Maarten.

Maarten Jan Bakkum, Senior Emerging Markets Strategist, NN IP, commented: "As long as - on balance - EM fiscal data continue to improve, investors are likely to look through the deterioration in some specific cases such as Turkey and South Africa."

Okay, okay. And there's more!

NN IP has reduced exposure to EM local currency bonds slightly because it expects markets will take a negative view of an anticipated economic slowdown in China and weakening commodity prices this year. However, longer term, it believes that as long as economic growth momentum in EMs stays in the 4.5%-5.0% range seen over the last three years and inflation continues the downward trend from 5% to 3% seen in the last five years, the environment for EM debt will remain good.

Okay. So - 'There's more, boss!' God!

NN IP also believes the risk of a negative shock from a sudden change towards a higher pace of interest rate hikes by the Fed look low. Maarten-Jan added: "Perhaps markets have not priced in enough hikes for the coming years, but the recent economic data, policy expectations and Fed language do not suggest that market expectations are unrealistic. Also, EM capital flows have so far proven to be more resilient in an environment of rising US interest rates than most people thought a few years ago."

Oh, Maarten-Jan. 'Eh? Martin Jan, what?' It's Maarten-Jan, Voice!

...

Well, that's it. Done. I'm knackered. 'Let the fun begin, Mikey! What are you doing tonight?' Eating a packet of M&M's while watching TV.

Later(s), crocodile(s)!