Cor!

So ... 

London, 27 July 2020 - corfinancial, a leading provider of specialist software and services to the financial services sector, reports that Edinburgh-based investment manager Baillie Gifford has migrated the processing of its futures transactions to corfinancial's post-trade system, Salerio.

And that's enough, actually. 'Is that all the PR email, boss?' No, Voice, it isn't, but ... I'm tired, and it's the end of the week, and - 'Just quote Louise a bit.' Louise?! Louise who?! 'Louise Laidlaw.' Oh, right. And who's she when she's at home? 'Christ! Look, I'll do it -'

"The fact that we went live on futures during lockdown bears testimony to the robust nature of the Salerio application and the flexibility of corfinancial's implementation team," says Louise Laidlaw, Head of Settlements, Baillie Gifford. "We ran Salerio in parallel with our legacy futures application until we were ready to switch the old system off. Ultimately we had a flawless transition."

Okay, okay. Well, thanks for copying and pasting that, Voice. And thank you, uh ... Louise, for, yeah, whatever.

Are we finished now?

...

Anything else?

I've been watching some clips of that Alexander film on YouTube. You know, with Colin Farrell.

Alexander was definitely the greatest ever warrior. I mean, in pure fighting terms. The way he was always in the front line at any battle was crazy for a general. Caesar only did that at moments of absolute danger when it looked like a battle would be lost. Which is more sensible, really. Alexander was a nutcase.

I can't remember all the details - it's in that Christian Meier book - but there was one occasion when Caesar's men started fleeing from the field. Caesar pushed ahead by himself, cursing his fortune and saying this would be his last day on earth. Seeing Caesar, his men became ashamed of themselves and turned and followed him, and then they won the battle.

The man had so much class.

Laters!

Online sales tax

Dear oh dear. Voice! 'What, boss?' I'll tell you who won't like this online sales tax. 'Jinksy.' Christ! Yes. But let me say it. This is my blog, man. 'Go on then.' All right. Jinsky. Jinksy won't like it.

And here's his PR email. He doesn't like it. -

The Chancellor is reportedly contemplating a new online sales tax to raise £2 billion a year to create a 'sustainable and meaningful revenue source for the government'. The home delivery expert ParcelHero says Britain's increasing army of online shoppers must not be duped into paying the cost of The Thing.

Well, well ... someone's got to pay for The Thing. Do we seriously imagine the rich will be paying? 'No, no, no. The poor always pay, boss. They're the ones with all the money, after all.' Eh? 'Well, they waste it on chips - like you.' Ha! There's nothing wrong with chips, son. Chips are the greatest food ever invented. I'm having some tonight.

Anyway ...

Oh, I'm a bit worn out today, dear reader(s). I walked ten miles yesterday, to Richmond and back, in blazing heat. I don't recommend that, no.

Anyway ...

The Government is reportedly examining how the 'the tax system raises sufficient revenue' to cover the cost of lost business rates, as The Thing continues to bankrupt many High Street businesses. The Times newspaper reported on Monday that, following last week's Treasury consultation paper on business rates, Chancellor Sunak is considering a 2% levy on goods sold online. ParcelHero, the UK e-commerce delivery expert, warns this new charge would be in addition to the recently announced 'plastic bags-style tax' on home deliveries the Government plans to introduce, in order to force shoppers to rethink their use of home deliveries.

Rethink their use of home deliveries?! WTF?! Let's be honest, kook(s), the government doesn't know what it wants. Wear a mask, don't wear a mask. Go to the shops, don't go to the shops. Jump off the roof, don't jump off the roof. 'They're a bunch of cretins, boss.' Tell me about it, Voice. Tell me about it! 'Okay, well -' Not now! Later, idiot!

Anyway ...

ParcelHero's Head of Consumer Services, David Jinks MILT, says home shoppers should not be duped into footing the bill for the impact of The Thing: "During lockdown, shoppers of all ages have turned to e-commerce so they can continue to shop safely from their own home. That is a sensible choice and consumers must not be punished for being wary of returning to shopping centres and crowded stores. The Treasury paper says: 'Historical trends in online retail sales, and the more recent increases driven by The Thing, suggests that while an online sales tax would not replace business rates, it could still provide a sustainable and meaningful revenue source for the government.' That means the Government is well aware many people have been driven to online shopping because of their concerns over The Thing but it is prepared to make those people pay more to restore the Government's coffers. The Treasury goes on to say that it needs to '… ensure that the tax system raises sufficient revenue to fund the services that have been essential parts of The Thing response, as well as public services more broadly.' ..."

Okay, okay. Thanks, Jinksy! 'What about the rest of it?' The rest of what? 'Jinksy's speech.' Yeah, right.

Ha! The rest of it! Dream on!

...

Anything else? Yeah. Getting rid of the cosmic triplets idea of me, Julius, and Elon makes it easier for me to believe that I'm the reincarnation of Julius Caesar. I mean, that makes more sense to me than anything else. Do you know what I mean?

The other day I was thinking to myself ... How would Caesar write songs? Then I played a few of my songs and realized he would do exactly what I've done. So, I reckon I will be able to become the greatest ever songwriter with only ten big ones. As Caesar says in that film ... "It's not numbers but vision that wins wars."

Oh, and if this all sounds crazy to anyone ... ha, ha, ha! Like I've ever cared what anything sounds like.

You could learn a lot from me, kook(s).

'Listen to him!'

Be the kook you want to be.

Just don't be square.

Laters!

[No. 823] Imagine there's only finance

No music. No personal stuff.

And, yes![1], and, uh ... just cold, cold, cold finance[1], and, yes![2], and numbers and funds a-ROUND here making us all numb with no fun[1], and, uh ... just cold, cold, cold finance[2], and what a nightmare it would be![1], and numbers and funds a-ROUND here making us all numb with no fun[2], and ... imagine![1], and what a nightmare it would be![2], and words like ice ...[1], and ... imagine![2], and no passion![1], and words like ice ...[2], and I could share the dullness with everyone![1], and no passion![2], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[1], and I could share the dullness with everyone![2], and I'll need a lobotomy first[1], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[1], and I'll need a lobo tomy first[2], and all jumbled[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[2], and what do YOU(!) think? ... if you can still manage it[1], and all jumbled[2], and ... try![1], and what do YOU(!) think? ... if you can still manage it[2], and I could speak to Lloyd again ... / and I could speak to Bobby ...[1], and ... try![2], and, BUT(!) ... no ghosts this time[1], and I could speak to Lloyd again ... / and I could speak to Bobby ...[2], and I'm not going back to the desert, astral or physical[1], and, BUT(!) ... no ghosts this time[2], and the squares would love it[1], and I'm not going back to the desert, astral or physical[2], and I don't know if I've got the discipline / and I don't know if I've got the will[1], and the squares would love it[2], and I could attract new awful readers![1], and I don't know if I've got the discipline / and I don't know if I've got the will[2], and, so, YOU(!) ... imagine![1], and I could attract new awful readers![2], and it must be easy ... have you even tried?[1], and, so, YOU(!) ... imagine![2], and I won't talk about my guitars, and I won't talk about my songs ...[1], and it must be easy ... have you even tried?[2], and you'll be wondering, wondering ...[1], and I won't talk about my guitars, and I won't talk about my songs ...[2], and I won't talk about St Ives, Richmond, or Malibu[1], and you'll be wondering, wondering ...[2], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[1], and I won't talk about St Ives, Richmond, or Malibu[2], and I'll be gone, so GONE(!)? - !!![1], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[2], and, but ... here I am ... for now, ha![1], and I'll be gone, so GONE(!)? - !!![2], and ... ha![1], and, but ... here I am ... for now, ha![2], and, yes![3], and ... ha![2], and, uh ... just cold, cold, cold finance[3], and numbers and funds a-ROUND here making us all numb with no fun[3], and what a nightmare it would be![3], and ... imagine![3], and words like ice ...[3], and no passion![3], and I could share the dullness with everyone![3], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[3], and I'll need a l  o  b  o  t  o  m  y first[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[3], and all jumbled[3], and what do YOU(!) think? ... if you can still manage it[3], and ... try![3], and I could speak to Lloyd again ... / and I could speak to Bobby ...[3], and, BUT(!) ... no ghosts this time[3], and I'm not going back to the desert, astral or physical[3], and the squares would love it[3], and I don't know if I've got the discipline / and I don't know if I've got the will[3], and I could attract new awful readers![3], and, so, YOU(!) ... imagine![3], and it must be easy ... have you even tried?[3], and I won't talk about my guitars, and I won't talk about my songs ...[3], and you'll be wondering, wondering ...[3], and I won't talk about St Ives, Richmond, or Malibu[3], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[3], and I'll be gone, so GONE(!)? - !!![3], and, but ... here I am ... for now, ha![3], and ... ha![3], and

And, yes![1], and, uh ... just cold, cold, cold finance[1], and, yes![2], and numbers and funds a-ROUND here making us all numb with no fun[1], and, uh ... just cold, cold, cold finance[2], and what a nightmare it would be![1], and numbers and funds a-ROUND here making us all numb with no fun[2], and ... imagine![1], and what a nightmare it would be![2], and words like ice ...[1], and ... imagine![2], and no passion![1], and words like ice ...[2], and I could share the dullness with everyone![1], and no passion![2], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[1], and I could share the dullness with everyone![2], and I'll need a lobotomy first[1], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[1], and I'll need a lobo tomy first[2], and all jumbled[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[2], and what do YOU(!) think? ... if you can still manage it[1], and all jumbled[2], and ... try![1], and what do YOU(!) think? ... if you can still manage it[2], and I could speak to Lloyd again ... / and I could speak to Bobby ...[1], and ... try![2], and, BUT(!) ... no ghosts this time[1], and I could speak to Lloyd again ... / and I could speak to Bobby ...[2], and I'm not going back to the desert, astral or physical[1], and, BUT(!) ... no ghosts this time[2], and the squares would love it[1], and I'm not going back to the desert, astral or physical[2], and I don't know if I've got the discipline / and I don't know if I've got the will[1], and the squares would love it[2], and I could attract new awful readers![1], and I don't know if I've got the discipline / and I don't know if I've got the will[2], and, so, YOU(!) ... imagine![1], and I could attract new awful readers![2], and it must be easy ... have you even tried?[1], and, so, YOU(!) ... imagine![2], and I won't talk about my guitars, and I won't talk about my songs ...[1], and it must be easy ... have you even tried?[2], and you'll be wondering, wondering ...[1], and I won't talk about my guitars, and I won't talk about my songs ...[2], and I won't talk about St Ives, Richmond, or Malibu[1], and you'll be wondering, wondering ...[2], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[1], and I won't talk about St Ives, Richmond, or Malibu[2], and I'll be gone, so GONE(!)? - !!![1], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[2], and, but ... here I am ... for now, ha![1], and I'll be gone, so GONE(!)? - !!![2], and ... ha![1], and, but ... here I am ... for now, ha![2], and, yes![3], and ... ha![2], and, uh ... just cold, cold, cold finance[3], and numbers and funds a-ROUND here making us all numb with no fun[3], and what a nightmare it would be![3], and ... imagine![3], and words like ice ...[3], and no passion![3], and I could share the dullness with everyone![3], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[3], and I'll need a l  o  b  o  t  o  m  y first[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[3], and all jumbled[3], and what do YOU(!) think? ... if you can still manage it[3], and ... try![3], and I could speak to Lloyd again ... / and I could speak to Bobby ...[3], and, BUT(!) ... no ghosts this time[3], and I'm not going back to the desert, astral or physical[3], and the squares would love it[3], and I don't know if I've got the discipline / and I don't know if I've got the will[3], and I could attract new awful readers![3], and, so, YOU(!) ... imagine![3], and it must be easy ... have you even tried?[3], and I won't talk about my guitars, and I won't talk about my songs ...[3], and you'll be wondering, wondering ...[3], and I won't talk about St Ives, Richmond, or Malibu[3], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[3], and I'll be gone, so GONE(!)? - !!![3], and, but ... here I am ... for now, ha![3], and ... ha![3], and

And, yes![1], and, uh ... just cold, cold, cold finance[1], and, yes![2], and numbers and funds a-ROUND here making us all numb with no fun[1], and, uh ... just cold, cold, cold finance[2], and what a nightmare it would be![1], and numbers and funds a-ROUND here making us all numb with no fun[2], and ... imagine![1], and what a nightmare it would be![2], and words like ice ...[1], and ... imagine![2], and no passion![1], and words like ice ...[2], and I could share the dullness with everyone![1], and no passion![2], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[1], and I could share the dullness with everyone![2], and I'll need a lobotomy first[1], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[1], and I'll need a lobo tomy first[2], and all jumbled[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[2], and what do YOU(!) think? ... if you can still manage it[1], and all jumbled[2], and ... try![1], and what do YOU(!) think? ... if you can still manage it[2], and I could speak to Lloyd again ... / and I could speak to Bobby ...[1], and ... try![2], and, BUT(!) ... no ghosts this time[1], and I could speak to Lloyd again ... / and I could speak to Bobby ...[2], and I'm not going back to the desert, astral or physical[1], and, BUT(!) ... no ghosts this time[2], and the squares would love it[1], and I'm not going back to the desert, astral or physical[2], and I don't know if I've got the discipline / and I don't know if I've got the will[1], and the squares would love it[2], and I could attract new awful readers![1], and I don't know if I've got the discipline / and I don't know if I've got the will[2], and, so, YOU(!) ... imagine![1], and I could attract new awful readers![2], and it must be easy ... have you even tried?[1], and, so, YOU(!) ... imagine![2], and I won't talk about my guitars, and I won't talk about my songs ...[1], and it must be easy ... have you even tried?[2], and you'll be wondering, wondering ...[1], and I won't talk about my guitars, and I won't talk about my songs ...[2], and I won't talk about St Ives, Richmond, or Malibu[1], and you'll be wondering, wondering ...[2], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[1], and I won't talk about St Ives, Richmond, or Malibu[2], and I'll be gone, so GONE(!)? - !!![1], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[2], and, but ... here I am ... for now, ha![1], and I'll be gone, so GONE(!)? - !!![2], and ... ha![1], and, but ... here I am ... for now, ha![2], and, yes![3], and ... ha![2], and, uh ... just cold, cold, cold finance[3], and numbers and funds a-ROUND here making us all numb with no fun[3], and what a nightmare it would be![3], and ... imagine![3], and words like ice ...[3], and no passion![3], and I could share the dullness with everyone![3], and, uh, uh ... well, no insanity, no ... just a calmness ... maybe such boredom wouldn't be so bad ... ?[3], and I'll need a l  o  b  o  t  o  m  y first[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and banks, gold, hedge funds, Bitcoin, ETFs ...[3], and all jumbled[3], and what do YOU(!) think? ... if you can still manage it[3], and ... try![3], and I could speak to Lloyd again ... / and I could speak to Bobby ...[3], and, BUT(!) ... no ghosts this time[3], and I'm not going back to the desert, astral or physical[3], and the squares would love it[3], and I don't know if I've got the discipline / and I don't know if I've got the will[3], and I could attract new awful readers![3], and, so, YOU(!) ... imagine![3], and it must be easy ... have you even tried?[3], and I won't talk about my guitars, and I won't talk about my songs ...[3], and you'll be wondering, wondering ...[3], and I won't talk about St Ives, Richmond, or Malibu[3], and you'll have to live with the pain of not knowing ... / ... and you just won't have a clue, man[3], and I'll be gone, so GONE(!)? - !!![3], and, but ... here I am ... for now, ha![3], and ... ha![3], and

Refinitiv: Lipper European fund flows report - June 2020

Yes, yes, yes!

The monthly European fund flows report from the Lipper team at Refinitiv. I love it! 'So do I, boss!' Of course you do, Voice.

Oh, I haven't looked at the attachment to the PR email, but it's probably all charts again.

I don't like charts!

Anyway ...

Long-term mutual funds posted net inflows for June 2020.

The overall fund flows for mutual funds in Europe in June amounted to estimated net inflows of €90.5 bn.

Bond funds (+€31.1 bn) were the best-selling individual asset type overall for June.

Equity Global (+€12.1 bn) was once again the best-selling sector among long-term funds for June.

Luxembourg (+€28.3 bn) was the fund domicile with the highest net inflows, followed by Ireland (+€26.4 bn) and France (+€22.1 bn).

Real Love.

BlackRock was the best-selling fund promoter for June overall, with net sales of €11.3 bn, ahead of ING (+€8.6 bn) and JP Morgan (+€8.5 bn).

The 10 best-selling long-term funds gathered at the share class level net inflows of €11.9 bn for June.

ING Select Fund - Actueel Neutraal B (+$1.9 bn) was the best-selling individual long-term fund share class for June.

Interesting! But let's see if our Detlef can do a great job of pretending he knows what that's all about ...

Detlef Glow, Lipper Head of EMEA Research at Refinitiv, comments: "European investors bought further back into mutual funds and ETFs in June. Since the global equity markets stabilized further, investors returned to long-term mutual funds because they expect the massive stimulus packages from central banks and governments globally to keep the interest rates low and to kickstart economic growth after the lockdowns caused by the outbreak of The Thing are lifted in more countries around the globe."

Okay, okay. Let's hear more ...

"As a result, long-term mutual funds posted overall net inflows for the month. Bond funds (+€31.1 bn) were the best-selling long-term asset type for June, followed by equity funds (+€14.1 bn), mixed-assets funds (+€9.3 bn), commodities funds (+€1.0 bn), and real estate funds (+€0.4 bn). On the other hand, 'other' funds (-€1.1 bn) and alternative UCITS funds (-1.8 bn) were facing estimated net outflows. These fund flows added up to overall estimated net inflows of €53.0 bn into long-term investment funds for June. ETFs contributed inflows of €16.3 bn to these flows."

Right. What do you think, Voice? 'I think he did a very good job, boss. Detlef can be very convincing, when he wants to be.' Yeah.

Thank you, Detlef!

ENDS

...

Anything else? Music? My music?! Listen, kook(s)! I don't have all the time in the world. No one's got all the time in the world. Not these days. So, I can't expect to write hundreds of songs like Dylan and Young, or anyone else who's got hundreds of songs. You dig?

I need to become the greatest ever songwriter with my BIG TEN. And then slowly build from there.

Is that even possible? Ten songs? I don't know. / We'll Show Them Heaven is simple but powerful. It will be like Imagine - if I can match the words perfectly to the music. Imagine certainly isn't my favourite song, and I don't think it's the greatest song. No! BUT(!) ... I think it's the most perfect song.

So, I'll finish the Heaven one soon, and add it to the other seven. That will give me six world-beaters and two bread-and-butter classics, first class.

What about the other two songs? I mean, the ones that don't exist yet. Well, one of them - at least - will have to be a world-beater.

You won't believe the level of my obsession, man. When I fall to sleep at night, I think about my BIG TEN. When I wake up in the morning, I think about my BIG TEN. Literally the first thoughts that come into my head. Sometimes I even dream about them. Although last night I was dreaming about some woman and I woke up just before things got interesting. My luck! Christ.

Oh, Lennon and McCartney world-beaters, combined, like? ...

Imagine

A Day In The Life

Let It Be

Hey Jude

Yesterday

That's it.

Anyway, I'll probably stop writing about music soon, and personal stuff. Yes, I'm still committed to that. I will do it. One day. Believe me.

Laters!

[No. 822] I've got nothing to say

Just let me spin!

And - oh![1], and here it is - I say it, ha![1], and - oh![2], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![1], and here it is - I say it, ha![2], and, uh ... it's a concept, of course[1], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![2], and each broken word is a little victory ... / ... and one day ... I will win this terrible war, believe me[1], and, uh ... it's a concept, of course[2], and you, you, YOU(!) ... ?[1], and each b roken wor d is a litt le vict ory ... / ... and one day ... I will win this ter rible wa r, believe me[2], and look into my eyes, fools ... and despair![1], and you, you, YOU(!) ... ?[2], and I've waited my whole life for these moments to come, and these moments to go ... oh, am I happy now?[1], and look into my eyes, fools ... and desp air![2], and, uh ... does it matter?[1], and I've waited my whole life for these mome nts to come, and these m oments to go ... oh, am I happy now?[2], and ... tell me, tell me, tell me![1], and, uh ... does it matter?[2], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[1], and ... tell me, tell me, tell me![2], and, but, but, BUT(!) ... I'm calm[1], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[2], and, oh, oh, oh ... I've mastered the gaiety! ... ?[1], and, but, but, BUT(!) ... I'm calm[2], and, well ...[1], and, oh, oh, oh ... I've mastered the ga iety! ... ?[2], and ... do you care?[1], and, well ...[2], and it doesn't matter[1], and ... do you care?[2], and I know you don't know enough to care ... you can't see what's really going on behind the mask[1], and it doesn't matter[2], and, listen! ... words, words, words[1], and I know you don't know enough to care ... you can't see what's really going on behind the m ask[2], and they come all the time / and they are wild![1], and, listen! ... words, words, words[2], and, so ... I break them![1], and they come all the time / and they are wild![2], and listen to me! ... behind every broken word there is a clean something that can't be described[1], and, so ... I brea k them![2], and do you know what I mean?[1], and listen to me! ... behind every broken word there is a clean so mething that can't be described[2], and if you don't know ... would you like to know, one of these nights, when only the howling wind is keeping you company?[1], and do you know what I mean?[2], and whatever ... don't get upset[1], and if you don't know ... would you like to know, one of these nights, when only the h owling wind is keeping you company?[2], and I believe in nothing, kook(s), NOTHING - !!![1], and whatever ... don't get upset[2], and, rejoice![1], and I believe in nothing, kook(s), NOT HING - !!![2], and - oh![3], and, rejo ice![2], and here it is - I say it, ha![3], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![3], and, uh ... it's a concept, of course[3], and each b  r  o  k  e  n w  o  r  d is a l  i  t  t  l  e v  i  c  t  o  r  y ... / ... and one day ... I will win this t  e  r  r  i  b  l  e w  a  r, believe me[3], and you, you, YOU(!) ... ?[3], and look into my eyes, fools ... and d  e  s  p  a  i  r![3], and I've waited my whole life for these m  o  m  e  n  t  s to come, and these m  o  m  e  n  t  s to go ... oh, am I happy now?[3], and, uh ... does it matter?[3], and ... tell me, tell me, tell me![3], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[3], and, but, but, BUT(!) ... I'm calm[3], and, oh, oh, oh ... I've mastered the g  a  i  e  t  y! ... ?[3], and, well ...[3], and ... do you care?[3], and it doesn't matter[3], and I know you don't know enough to care ... you can't see what's really going on behind the m  a  s  k[3], and, listen! ... words, words, words[3], and they come all the time / and they are wild![3], and, so ... I b  r  e  a  k them![3], and listen to me! ... behind every broken word there is a clean s  o  m  e  t  h  i  n  g that can't be described[3], and do you know what I mean?[3], and if you don't know ... would you like to know, one of these nights, when only the h  o  w  l  i  n  g wind is keeping you company?[3], and whatever ... don't get upset[3], and I believe in nothing, kook(s), N  O  T  H  I  N  G - !!![3], and, r  e  j  o  i  c  e![3], and

And - oh![1], and here it is - I say it, ha![1], and - oh![2], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![1], and here it is - I say it, ha![2], and, uh ... it's a concept, of course[1], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![2], and each broken word is a little victory ... / ... and one day ... I will win this terrible war, believe me[1], and, uh ... it's a concept, of course[2], and you, you, YOU(!) ... ?[1], and each b roken wor d is a litt le vict ory ... / ... and one day ... I will win this ter rible wa r, believe me[2], and look into my eyes, fools ... and despair![1], and you, you, YOU(!) ... ?[2], and I've waited my whole life for these moments to come, and these moments to go ... oh, am I happy now?[1], and look into my eyes, fools ... and desp air![2], and, uh ... does it matter?[1], and I've waited my whole life for these mome nts to come, and these m oments to go ... oh, am I happy now?[2], and ... tell me, tell me, tell me![1], and, uh ... does it matter?[2], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[1], and ... tell me, tell me, tell me![2], and, but, but, BUT(!) ... I'm calm[1], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[2], and, oh, oh, oh ... I've mastered the gaiety! ... ?[1], and, but, but, BUT(!) ... I'm calm[2], and, well ...[1], and, oh, oh, oh ... I've mastered the ga iety! ... ?[2], and ... do you care?[1], and, well ...[2], and it doesn't matter[1], and ... do you care?[2], and I know you don't know enough to care ... you can't see what's really going on behind the mask[1], and it doesn't matter[2], and, listen! ... words, words, words[1], and I know you don't know enough to care ... you can't see what's really going on behind the m ask[2], and they come all the time / and they are wild![1], and, listen! ... words, words, words[2], and, so ... I break them![1], and they come all the time / and they are wild![2], and listen to me! ... behind every broken word there is a clean something that can't be described[1], and, so ... I brea k them![2], and do you know what I mean?[1], and listen to me! ... behind every broken word there is a clean so mething that can't be described[2], and if you don't know ... would you like to know, one of these nights, when only the howling wind is keeping you company?[1], and do you know what I mean?[2], and whatever ... don't get upset[1], and if you don't know ... would you like to know, one of these nights, when only the h owling wind is keeping you company?[2], and I believe in nothing, kook(s), NOTHING - !!![1], and whatever ... don't get upset[2], and, rejoice![1], and I believe in nothing, kook(s), NOT HING - !!![2], and - oh![3], and, rejo ice![2], and here it is - I say it, ha![3], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![3], and, uh ... it's a concept, of course[3], and each b  r  o  k  e  n w  o  r  d is a l  i  t  t  l  e v  i  c  t  o  r  y ... / ... and one day ... I will win this t  e  r  r  i  b  l  e w  a  r, believe me[3], and you, you, YOU(!) ... ?[3], and look into my eyes, fools ... and d  e  s  p  a  i  r![3], and I've waited my whole life for these m  o  m  e  n  t  s to come, and these m  o  m  e  n  t  s to go ... oh, am I happy now?[3], and, uh ... does it matter?[3], and ... tell me, tell me, tell me![3], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[3], and, but, but, BUT(!) ... I'm calm[3], and, oh, oh, oh ... I've mastered the g  a  i  e  t  y! ... ?[3], and, well ...[3], and ... do you care?[3], and it doesn't matter[3], and I know you don't know enough to care ... you can't see what's really going on behind the m  a  s  k[3], and, listen! ... words, words, words[3], and they come all the time / and they are wild![3], and, so ... I b  r  e  a  k them![3], and listen to me! ... behind every broken word there is a clean s  o  m  e  t  h  i  n  g that can't be described[3], and do you know what I mean?[3], and if you don't know ... would you like to know, one of these nights, when only the h  o  w  l  i  n  g wind is keeping you company?[3], and whatever ... don't get upset[3], and I believe in nothing, kook(s), N  O  T  H  I  N  G - !!![3], and, r  e  j  o  i  c  e![3], and

And - oh![1], and here it is - I say it, ha![1], and - oh![2], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![1], and here it is - I say it, ha![2], and, uh ... it's a concept, of course[1], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![2], and each broken word is a little victory ... / ... and one day ... I will win this terrible war, believe me[1], and, uh ... it's a concept, of course[2], and you, you, YOU(!) ... ?[1], and each b roken wor d is a litt le vict ory ... / ... and one day ... I will win this ter rible wa r, believe me[2], and look into my eyes, fools ... and despair![1], and you, you, YOU(!) ... ?[2], and I've waited my whole life for these moments to come, and these moments to go ... oh, am I happy now?[1], and look into my eyes, fools ... and desp air![2], and, uh ... does it matter?[1], and I've waited my whole life for these mome nts to come, and these m oments to go ... oh, am I happy now?[2], and ... tell me, tell me, tell me![1], and, uh ... does it matter?[2], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[1], and ... tell me, tell me, tell me![2], and, but, but, BUT(!) ... I'm calm[1], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[2], and, oh, oh, oh ... I've mastered the gaiety! ... ?[1], and, but, but, BUT(!) ... I'm calm[2], and, well ...[1], and, oh, oh, oh ... I've mastered the ga iety! ... ?[2], and ... do you care?[1], and, well ...[2], and it doesn't matter[1], and ... do you care?[2], and I know you don't know enough to care ... you can't see what's really going on behind the mask[1], and it doesn't matter[2], and, listen! ... words, words, words[1], and I know you don't know enough to care ... you can't see what's really going on behind the m ask[2], and they come all the time / and they are wild![1], and, listen! ... words, words, words[2], and, so ... I break them![1], and they come all the time / and they are wild![2], and listen to me! ... behind every broken word there is a clean something that can't be described[1], and, so ... I brea k them![2], and do you know what I mean?[1], and listen to me! ... behind every broken word there is a clean so mething that can't be described[2], and if you don't know ... would you like to know, one of these nights, when only the howling wind is keeping you company?[1], and do you know what I mean?[2], and whatever ... don't get upset[1], and if you don't know ... would you like to know, one of these nights, when only the h owling wind is keeping you company?[2], and I believe in nothing, kook(s), NOTHING - !!![1], and whatever ... don't get upset[2], and, rejoice![1], and I believe in nothing, kook(s), NOT HING - !!![2], and - oh![3], and, rejo ice![2], and here it is - I say it, ha![3], and a-ROUND, and a-ROUND, and a-ROUND ... with such a style the world has never even heard about, ha, ha, ha![3], and, uh ... it's a concept, of course[3], and each b  r  o  k  e  n w  o  r  d is a l  i  t  t  l  e v  i  c  t  o  r  y ... / ... and one day ... I will win this t  e  r  r  i  b  l  e w  a  r, believe me[3], and you, you, YOU(!) ... ?[3], and look into my eyes, fools ... and d  e  s  p  a  i  r![3], and I've waited my whole life for these m  o  m  e  n  t  s to come, and these m  o  m  e  n  t  s to go ... oh, am I happy now?[3], and, uh ... does it matter?[3], and ... tell me, tell me, tell me![3], and I'd rather be great than happy ... and I've seen those happy guys, yes, with their brains leaking out of their ears[3], and, but, but, BUT(!) ... I'm calm[3], and, oh, oh, oh ... I've mastered the g  a  i  e  t  y! ... ?[3], and, well ...[3], and ... do you care?[3], and it doesn't matter[3], and I know you don't know enough to care ... you can't see what's really going on behind the m  a  s  k[3], and, listen! ... words, words, words[3], and they come all the time / and they are wild![3], and, so ... I b  r  e  a  k them![3], and listen to me! ... behind every broken word there is a clean s  o  m  e  t  h  i  n  g that can't be described[3], and do you know what I mean?[3], and if you don't know ... would you like to know, one of these nights, when only the h  o  w  l  i  n  g wind is keeping you company?[3], and whatever ... don't get upset[3], and I believe in nothing, kook(s), N  O  T  H  I  N  G - !!![3], and, r  e  j  o  i  c  e![3], and

Amelia Armour and Pierre Socha ... who are they?

They are people. They work in finance. But it's a cold, rainy day in winter, and I don't want to write about people, or finance. 'It's summer, boss.' Look out of the window, idiot!

Anyway, I'll do my job, I suppose ...

22 Jul 2020 - Cambridge, UK - Global technology investor, Amadeus Capital Partners, today announces the promotion of both Amelia Armour and Pierre Socha to Partner in the Early Stage Fund team.

Ha! Not today. This PR email is from Wednesday last week. So what? Better late than never. I mean, I could write about something else. I could write about the winter wind. 'Eh?' Shut up, Voice.

So, I'm guessing that Amelia is delighted. 'She might be excited, boss. Or pleased.' No, no. I know this sort of woman. They're always delighted.

Amelia comments: "I'm delighted to be recognized, having been supported by the great team at Amadeus over the past ten years. The most fulfilling part of the role is working with our portfolio companies to build global enterprises. I'm looking forward to working with many more ground-breaking startups across the UK."

Okay, okay.

Now, Pierre? Well, I don't know much about him, dear reader(s), but he strikes me as the grateful sort. 'Is that your gut feeling?' Yes. It's my gut feeling.

Let's see what he says ...

Pierre says: "Amadeus has been front and centre of deep technology investment for decades. I'm grateful to be given the opportunity to lead our early stage activities in biotech, medtech and digital health. We're planning to grow our team and will keep pushing the boundaries in emerging tech investing."

Okay, okay. Thanks, Pierre. And thanks, Amelia.

Oh, a bit more about them -

Amelia joined Amadeus in 2009. Her investment focus is on autonomous systems, AI and machine learning, cloud computing, digital health and medical technology. She is a Director on the boards of Sprout.ai, Xampla, Cambridge Touch Technologies, Paragraf, Immense Simulations, Baby2body, Riverlane and SLAMcore. Amelia is also a board observer at Prowler.io and Graphcore.

Pierre joined Amadeus in 2012 and manages early stage health and biotech investments for Amadeus. He is on the boards of Quibim, Inotec, Ori Biotech, Doctify, Congenica, PhoreMost and oversees our investments in Lumeon and Organox.

Nice one!

Uh.

Obviously, I wish them all the best.

...

Anything else? I know I sound a bit down today, but I'm not. Well, I am down, and I'm not down.

I'm not down personally within myself, like. That's thanks to all the hypnosis. But I am down with the world, man. If you know what I mean. Do you know what I mean?

The world is shit to me. I refuse to take it seriously. I have my own world, inside.

I might stop reading and watching the news. I don't want some fat bastard from the government telling me I've got to lose weight.

I've been losing weight of my own free will because of my rock star diet. But that's my choice. My free will.

...

What else? Er ...

I've got nothing to say. And I say it here in this blog. One day, I will stop writing this blog. One day, I will be free.

And, uh ...

I don't want to hear about the world. I don't want the world to touch me. Let me stay inside, alone.

My life is private.

So, yeah, I've been thinking about Alexander the Great ...

I know I give him a hard time in this blog, but he's not a bad lad, really. He's just not classy like our Julius, that's all.

But he's definitely great.

...

Anyway, imagine if Alexander were alive in the modern world, and he had to get a job, just a regular job.

Imagine he started somewhere as an office clerk. On the lowest rung, as it were. Where would he be after five years? Would he be the office manager? No, no, no. Surely, he would be the chief executive at the firm ... ?

Ha! No, he would still be an office clerk. Not even a senior office clerk. Oh, I'm sure his bosses would have offered him promotion at various times, but he would have turned all those "opportunities" down.

The modern world is a joke. Alexander would know that, and live accordingly.

Actually, after a while, I'm sure he would get the sack from his office job. Then he would be on the dole.

A man like Alexander would be happy on the dole ... if people left him alone. However, people rarely leave you alone in this world.

I can imagine concerned family and friends asking him, "Alexander, haven't you got any ambition? This new firm will train you up as a ... whatever. What's wrong with you?!"

Obviously, there wouldn't be anything wrong with him. No. He would just smile to himself. Maybe give a little sigh.

Of course, the real trouble would come when Alexander had to deal with, uh ... "successful" people. Imagine Alexander talking to a lawyer, a dentist, an accountant ... and imagine the disdain they would have for this loser - oh, in their eyes.

How would Alexander resist the urge to reach for his sword?

Forex spreads is biggest challenge for asset manager traders during The Thing

Oh! Oh! Oh, who says?! 'Who says, boss?!' Refinitiv says, Voice. Ha, ha, ha! 'Uh.' Ha!

Oh, no! ...

For immediate release

Er ... 'When did you receive this email?' Last week. Ah, Christ. 'You can still do it.' I don't know, man. 'Go on, Mikey! Risk it.' All right.

LONDON, 16 July 2020: Managing forex spreads has been the biggest trading challenge for asset manager traders since The Thing and resulting lockdowns began according to a Refinitiv survey released today.

16th July - !!! What was I doing?! 'You finished the week on Wednesday 15th.' Yeah, but ... I could have covered this story on Monday. Damn! 'Don't beat yourself up.' Okay. Uh.

In the global survey of over 1,000 FX trading clients, which included responses from 132 traders at asset management companies, 55% percent of respondents felt spreads was the biggest challenge. Interestingly, 15% have managed to overcome citing no issues. 13% of respondents chose access to liquidity.

15 percent no issues. Well, well, well ... maybe they're not bothered about nothing. We all know the type, don't we?

The issue of spreads was felt more significantly for asset manager traders compared to corporates where only 35% cited this as their biggest issue.

Right.

Now - 'Let Detlef speak!' Shut up, idiot! Detlef isn't here. 'Where is he?' I don't know. Jim Kwiatkowski is going to speak to us, and the readers. 'Who the fuc - ?' Listen! Refinitiv has different people doing different jobs, man. We can't have Detlef all the time.

Come on, Jim! Give it your best shot.

Jim Kwiatkowski, Global Head of Transaction Sales at Refinitiv, comments: "The changes to spreads during this period have been well documented. Spreads widened as volatility increased and providers became concerned about client credit. This was clearly a market-wide impact, but one that was mitigated, at least partially, by the utilization of trading tools to aggregate available relationship pricing and find that elusive 'best price'. Many clients have taken advantage of auto execution capabilities for smaller orders so that they can focus on their larger, more difficult to execute orders."

Oh, okay. 'I prefer our Detlef, boss.' Yeah, right. You're not prepared to give Jim a chance, are you?

Okay, okay. There's a lot of this email. I'm not really interested in all of it. Although this is amusing at the end -

Jim concludes: "Difficulties in communicating could be part of the reason why electronic trading was found from the survey to be far more reliable for our participants than 'Voice risk transfer'."

Ha! 'Voice risk transfer?! Is he having a pop at me?' No, I don't think so, Voice. 'Well, it sounds like it, don't it? The cheeky sod!'

There's more -

"It also shows that instead of reverting to old-world methods (voice), the market is now so far down the path of electronification that it pushed even further in this direction as the crisis evolved."

Ha, ha, ha! 'The absolute bastard!' He's not talking about you, Voice. Get a grip!

ENDS

...

Anything else, kook(s)? Music? My music?! I still need those two new songs ... to give me my BIG TEN. Ah, never mind. I'll have to be patient.

My next goal after the BIG TEN will be to write two more songs as good as Nothing - which I still think is the greatest song ever. It really is like one of Shakespeare's soliloquies set to music. The only other song like that is Bob Dylan's It's Alright, Ma (I'm Only Bleeding). But my song is better! Why? Firstly, the music is better. It's more commercial and catchy. Secondly, there's nothing in Dylan's lyrics to match the grandeur of my third verse. It's beyond pop music, man, and in the realm of great literature. And yet ... it's still singable. It doesn't sound unnatural. Most poems would sound awful if you sang them. Think about it.

Anyway ...

Laters!

[No. 821] You've got the teeth of the hydra upon you

So, get it on!

And, okay ...[1], and I'll be honest ...[1], and, okay ...[2], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![1], and I'll be honest ...[2], and I just want to get it on - all dizzy, like[1], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![2], and I feel light-hearted, yes![1], and I just want to get it on - all dizzy, like[2], and how do ... you, you, YOU(!) ... feel ... ?![1], and I feel light-hearted, yes![2], and can you feel?[1], and how do ... you, you, YOU(!) ... feel ... ?![2], and I've been watching you ...[1], and can you feel?[2], and ... Christ[1], and I've been watching you ...[2], and I can see you're no square with your corkscrew hair ...[1], and ... Christ[2], and spin for me![1], and I can see you're no square with your corkscrew hair ...[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[1], and spin for me![2], and you're dirty sweet[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[2], and let's have some fun now ...[1], and you're dirty sweet[2], and a-ROUND ... so delirious![1], and let's have some fun now ...[2], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![1], and a-ROUND ... so delirious![2], and, but, but, BUT(!) ... I'm not scared, no, no, no[1], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![2], and you can help me fight them!(?)[1], and, but, but, BUT(!) ... I'm not scared, no, no, no[2], and, er ...[1], and you can help me fight them!(?)[2], and, uh ... here they come![1], and, er ...[2], and let's keep moving ... don't look back[1], and, uh ... here they come![2], and a-ROUND ... so fast![1], and let's keep moving ... don't look back[2], and I think we've lost them[1], and a-ROUND ... so fast![2], and ... Where are we?[1], and I think we've lost them[2], and what's that light? / and ... it's so bright![1], and ... Where are we?[2], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[1], and what's that light? / and ... it's so bright![2], and what do you see?[1], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[2], and visions keep coming ...[1], and what do you see?[2], and it's all flowing through me ...[1], and visions keep coming ...[2], and am I ... a cosmic dancer? Ha! What do you think?[1], and it's all flowing through me ...[2], and do you think?[1], and am I ... a cosmic dancer? Ha! What do you think?[2], and I suppose you're the weak, silent type ...[1], and do you think?[2], and, anyway ... a bit of peace, at last[1], and I suppose you're the weak, silent type ...[2], and think then![1], and, anyway ... a bit of pea ce, at last[2], and for the meanwhile I'm still feeling ...[1], and think then![2], and, okay ...[3], and for the meanwhile I'm still feeling ...[2], and I'll be honest ...[3], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![3], and I just want to get it on - all dizzy, like[3], and I feel light-hearted, yes![3], and how do ... you, you, YOU(!) ... feel ... ?![3], and can you feel?[3], and I've been watching you ...[3], and ... Christ[3], and I can see you're no square with your corkscrew hair ...[3], and spin for me![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[3], and you're dirty sweet[3], and let's have some fun now ...[3], and a-ROUND ... so delirious![3], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![3], and, but, but, BUT(!) ... I'm not scared, no, no, no[3], and you can help me fight them!(?)[3], and, er ...[3], and, uh ... here they come![3], and let's keep moving ... don't look back[3], and a-ROUND ... so fast![3], and I think we've lost them[3], and ... Where are we?[3], and what's that light? / and ... it's so bright![3], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[3], and what do you see?[3], and visions keep coming ...[3], and it's all flowing through me ...[3], and am I ... a cosmic dancer? Ha! What do you think?[3], and do you think?[3], and I suppose you're the weak, silent type ...[3], and, anyway ... a bit of p  e  a  c  e, at last[3], and think then![3], and for the meanwhile I'm still feeling ...[3], and

And, okay ...[1], and I'll be honest ...[1], and, okay ...[2], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![1], and I'll be honest ...[2], and I just want to get it on - all dizzy, like[1], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![2], and I feel light-hearted, yes![1], and I just want to get it on - all dizzy, like[2], and how do ... you, you, YOU(!) ... feel ... ?![1], and I feel light-hearted, yes![2], and can you feel?[1], and how do ... you, you, YOU(!) ... feel ... ?![2], and I've been watching you ...[1], and can you feel?[2], and ... Christ[1], and I've been watching you ...[2], and I can see you're no square with your corkscrew hair ...[1], and ... Christ[2], and spin for me![1], and I can see you're no square with your corkscrew hair ...[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[1], and spin for me![2], and you're dirty sweet[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[2], and let's have some fun now ...[1], and you're dirty sweet[2], and a-ROUND ... so delirious![1], and let's have some fun now ...[2], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![1], and a-ROUND ... so delirious![2], and, but, but, BUT(!) ... I'm not scared, no, no, no[1], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![2], and you can help me fight them!(?)[1], and, but, but, BUT(!) ... I'm not scared, no, no, no[2], and, er ...[1], and you can help me fight them!(?)[2], and, uh ... here they come![1], and, er ...[2], and let's keep moving ... don't look back[1], and, uh ... here they come![2], and a-ROUND ... so fast![1], and let's keep moving ... don't look back[2], and I think we've lost them[1], and a-ROUND ... so fast![2], and ... Where are we?[1], and I think we've lost them[2], and what's that light? / and ... it's so bright![1], and ... Where are we?[2], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[1], and what's that light? / and ... it's so bright![2], and what do you see?[1], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[2], and visions keep coming ...[1], and what do you see?[2], and it's all flowing through me ...[1], and visions keep coming ...[2], and am I ... a cosmic dancer? Ha! What do you think?[1], and it's all flowing through me ...[2], and do you think?[1], and am I ... a cosmic dancer? Ha! What do you think?[2], and I suppose you're the weak, silent type ...[1], and do you think?[2], and, anyway ... a bit of peace, at last[1], and I suppose you're the weak, silent type ...[2], and think then![1], and, anyway ... a bit of pea ce, at last[2], and for the meanwhile I'm still feeling ...[1], and think then![2], and, okay ...[3], and for the meanwhile I'm still feeling ...[2], and I'll be honest ...[3], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![3], and I just want to get it on - all dizzy, like[3], and I feel light-hearted, yes![3], and how do ... you, you, YOU(!) ... feel ... ?![3], and can you feel?[3], and I've been watching you ...[3], and ... Christ[3], and I can see you're no square with your corkscrew hair ...[3], and spin for me![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[3], and you're dirty sweet[3], and let's have some fun now ...[3], and a-ROUND ... so delirious![3], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![3], and, but, but, BUT(!) ... I'm not scared, no, no, no[3], and you can help me fight them!(?)[3], and, er ...[3], and, uh ... here they come![3], and let's keep moving ... don't look back[3], and a-ROUND ... so fast![3], and I think we've lost them[3], and ... Where are we?[3], and what's that light? / and ... it's so bright![3], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[3], and what do you see?[3], and visions keep coming ...[3], and it's all flowing through me ...[3], and am I ... a cosmic dancer? Ha! What do you think?[3], and do you think?[3], and I suppose you're the weak, silent type ...[3], and, anyway ... a bit of p  e  a  c  e, at last[3], and think then![3], and for the meanwhile I'm still feeling ...[3], and

And, okay ...[1], and I'll be honest ...[1], and, okay ...[2], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![1], and I'll be honest ...[2], and I just want to get it on - all dizzy, like[1], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![2], and I feel light-hearted, yes![1], and I just want to get it on - all dizzy, like[2], and how do ... you, you, YOU(!) ... feel ... ?![1], and I feel light-hearted, yes![2], and can you feel?[1], and how do ... you, you, YOU(!) ... feel ... ?![2], and I've been watching you ...[1], and can you feel?[2], and ... Christ[1], and I've been watching you ...[2], and I can see you're no square with your corkscrew hair ...[1], and ... Christ[2], and spin for me![1], and I can see you're no square with your corkscrew hair ...[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[1], and spin for me![2], and you're dirty sweet[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[2], and let's have some fun now ...[1], and you're dirty sweet[2], and a-ROUND ... so delirious![1], and let's have some fun now ...[2], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![1], and a-ROUND ... so delirious![2], and, but, but, BUT(!) ... I'm not scared, no, no, no[1], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![2], and you can help me fight them!(?)[1], and, but, but, BUT(!) ... I'm not scared, no, no, no[2], and, er ...[1], and you can help me fight them!(?)[2], and, uh ... here they come![1], and, er ...[2], and let's keep moving ... don't look back[1], and, uh ... here they come![2], and a-ROUND ... so fast![1], and let's keep moving ... don't look back[2], and I think we've lost them[1], and a-ROUND ... so fast![2], and ... Where are we?[1], and I think we've lost them[2], and what's that light? / and ... it's so bright![1], and ... Where are we?[2], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[1], and what's that light? / and ... it's so bright![2], and what do you see?[1], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[2], and visions keep coming ...[1], and what do you see?[2], and it's all flowing through me ...[1], and visions keep coming ...[2], and am I ... a cosmic dancer? Ha! What do you think?[1], and it's all flowing through me ...[2], and do you think?[1], and am I ... a cosmic dancer? Ha! What do you think?[2], and I suppose you're the weak, silent type ...[1], and do you think?[2], and, anyway ... a bit of peace, at last[1], and I suppose you're the weak, silent type ...[2], and think then![1], and, anyway ... a bit of pea ce, at last[2], and for the meanwhile I'm still feeling ...[1], and think then![2], and, okay ...[3], and for the meanwhile I'm still feeling ...[2], and I'll be honest ...[3], and I'm NOT(!!!) ... in a very serious mood at this very moment, okay? No, no, no ... ha![3], and I just want to get it on - all dizzy, like[3], and I feel light-hearted, yes![3], and how do ... you, you, YOU(!) ... feel ... ?![3], and can you feel?[3], and I've been watching you ...[3], and ... Christ[3], and I can see you're no square with your corkscrew hair ...[3], and spin for me![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and a-ROUND, and a-ROUND, and a-ROUND some more[3], and you're dirty sweet[3], and let's have some fun now ...[3], and a-ROUND ... so delirious![3], and maybe, baby ... I'll get all serious later ... when those bloody skeletons come out of the ground![3], and, but, but, BUT(!) ... I'm not scared, no, no, no[3], and you can help me fight them!(?)[3], and, er ...[3], and, uh ... here they come![3], and let's keep moving ... don't look back[3], and a-ROUND ... so fast![3], and I think we've lost them[3], and ... Where are we?[3], and what's that light? / and ... it's so bright![3], and a-ROUND here ... I can see a thousand suns, man / and I can see anything I want to see with my mystic eyes[3], and what do you see?[3], and visions keep coming ...[3], and it's all flowing through me ...[3], and am I ... a cosmic dancer? Ha! What do you think?[3], and do you think?[3], and I suppose you're the weak, silent type ...[3], and, anyway ... a bit of p  e  a  c  e, at last[3], and think then![3], and for the meanwhile I'm still feeling ...[3], and

Refinitiv: Lipper European ETF market report - H1 2020

Okay, okay. PR email, obviously. From our, uh ... anyway.  'What?!' This is the, uh ... H1 European ETF market report from the Lipper team at Refinitiv - 'Great, boss!' Yes, Voice. The first half of the year.

The promoters of ETFs in Europe experienced net inflows of €17.4 bn over the first half of 2020.

The assets under management in the European ETF industry (€830.0 bn) decreased over the course of 2020 so far.

Bond ETFs (+€16.4 bn) posted the highest net inflows in the European ETF industry for the first half of 2020.

Masters of War.

The best-selling Lipper global classification for June was Equity Global (+€4.9 bn), followed by Bond Global Corporates USD (+€4.9 bn) and Bond USD (+€3.3 bn).

iShares was the best-selling ETF promoter in Europe for the first half of 2020 (+€13.4 bn), ahead of Vanguard Group (+€3.9 bn) and Xtrackers (+€2.6 bn bn).

The Average Total Expense Ratio (TER) of ETFs in Europe fell one basis point (bp) to 0.33%.

Optimized Replication was the preferred index replication method in Europe.

And that all makes perfect sense, doesn't it? 'What about the attachment?' I don't need no attachment. That little bit is enough for me. 'But what about Detlef?! Aren't you going to let him speak?' Of course I'm going to let him speak, silly!

Come on, Detlef!

[Actually, I've just had a quick look at the attachment. Christ! It's sixteen pages of charts. 'Ha!' Exactly.]

Come on, Detlef!

Detlef Glow, Lipper Head of EMEA Research at Refinitiv, comments: "ETFs enjoyed inflows over the first six months of 2020 even as the economic and political developments over the course of the first half of the year were distinguished by the outbreak of The Thing and the resulting lockdowns of the leading economies. That said, March 2020 was one of the few months during which ETFs faced outflows as European investors switched to risk-off mode and respectively sold risky assets from their portfolios.

"Even as the economic outcome from the lockdowns is still unclear, investors returned to risky assets as governments and central banks started to stimulate the economies around the globe. This stimulus led to increasing stock markets and falling interest rates. That said, the inflows in ETFs could not offset the negative performance of underlying markets, which led to a decrease in assets under management from €870.0 bn as of December 31, 2019, to €830.0 bn at the end of June 2020. As stated above, the decrease of €40.0 bn for the first half of 2020 was driven by the negative performance of the underlying markets (-€57.4 bn), while the net inflows contributed €17.4 bn to the assets under management."

Well, well. Eh?

ENDS

...

Anything else? Yeah. When Julius Caesar was thirty or so, and on his travels, he came across this statue of Alexander the Great, and he burst into tears. Why was he so upset? Because he hadn't achieved anything at that point while Alexander had conquered the known world by the same age. / And I'm just thinking ... being a great ruler and conqueror was the only way you could live the rock star lifestyle in the ancient world. Nobody cared about anything else, man. If Caesar were alive today, he would probably burst into tears visiting Graceland. Or something like that. Do you know what I mean, kook(s)?

And I've just thought something else ... my songs are weapons, and my performance of those songs is fighting.

Laters.