Every battle is won or lost before it is ever fought - Sun Tzu, The Art of War.
Okay, okay. What's this all about?
From EUSIPA -
The trading volume of investment and leverage products on reporting European financial markets totalled EUR 37 billion in the second quarter. Turnover decreased by 25 percent on a quarter-by-quarter basis. Taking a year-on-year view, though, turnover increased by 45 percent. The market data was sourced by the European Structured Investment Products Association (EUSIPA) from its members and analysed by Derivative Partners AG.
Oh.
The members of EUSIPA who provide the figures for the market report include Zertifikate Forum Austria (ZFA), the Belgian Structured Investment Products Association (BELSIPA), Association Française des Produits Dérivés de Bourse (AFPDB), Deutscher Derivate Verband (DDV), Associazione Italiana Certificati e Prodotti di Investimento (ACEPI), the Netherlands Structured Investment Products Association (NEDSIPA), the Swedish Exchange Traded Investment Products Association (SETIPA), and the Swiss Structured Products Association (SSPA).
Oh.
Second-quarter turnover in investment products on European trading venues amounted to EUR 9 billion, 24 percent of the total. This represents a decrease of 50 percent on the previous quarter, and of 21 percent on the same quarter the previous year. Turnover in leverage products (Warrants, Knock-Out Warrants, and Constant Leverage Certificates) totalled EUR 28 billion in the period from April to June, representing 76 percent of total turnover. On a year-on-year basis, turnover in leverage products doubled, though it decreased 11 percent from the previous quarter.
Oh.
Okay, okay. Let's talk about music. 'Boss!' What? 'There's more of this PR email.' I know there is. There's a lot more of it. A hell of a lot more. 'Why didn't you do the story about the Norwegian robots?' Yeah, I should have done that one. I think I've deleted that email now.
You see, dear reader(s), there are these, uh ... Norwegian robots that are getting into farming. The only problem is ... Who asked them to? Do you know what I mean? Never mind.
...
Anything else? Music! Yes. I know where I am with music. 'Watch out for the robots!' Ha! I'm not bothered, Voice. Those soulless cretins won't be able to write better songs than me.
All right, kook(s). A question for you. Think of all the living pop stars who have had recording contracts. Go right back to the Fifties. What percentage of them do you think still have a deal? 'Wow! That's a good question, boss!' Yeah. I reckon it's got to be less than a quarter of a percent.
Well, less than a eighth of a percent.
Even less than that ... ?!
Christ! Talk about a mug's game!
And consider that most pop stars leave the business with a debt to their record company they'll probably never pay back ...
So, if you're wondering why it's taken me ten years to write a dozen songs and I'm still rehearsing for the demo ... that's the reason.
The moral of the story? Don't play a game you can't win. Only play if you can win.
Don't start a war you can't win.
Actually, give them a war they won't believe.
Laters!
