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!

[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.

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)!

[No. 511] "Mr. Fowke" or "Mikey"

Or other.

And I can call myself anything[1], and, yes, I ...[1], and I can call myself anything[2], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[1], and, yes, I ...[2], and did you notice the "I" - ?[1], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[2], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[1], and did you notice the "I" - ?[2], and what should I call ... YOU(!) - ?[1], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[2], and - kook![1], and what should I call ... YOU(!) - ?[2], and I want to help myself[1], and - kook![2], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[1], and I want to help myself[2], and, yes, me ...[1], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[2], and, but, but, BUT(!) ... not no more![1], and, yes, me ...[2], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[1], and, but, but, BUT(!) ... not no more![2], and just be other[1], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[2], and, sha, sha, sha ...[1], and just be other[2], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[1], and, sha, sha, sha ...[2], and, no, don't shake, spin![1], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[2], and if you've got a problem ... / ... good luck![1], and, no, don't shake, spin![2], and ... THE SHAMAN - !!!, you dig?[1], and if you've got a problem ... / ... good luck![2], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![1], and ... THE SHAMAN - !!!, you dig?[2], and you're spoilt for choice / 'We all are, son!'[1], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![2], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[1], and you're spoilt for choice / 'We all are, son!'[2], and many more, for the road? / COME ON - !!![1], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[2], and I can call myself anything[3], and many more, for the road? / COME ON - !!![2], and, yes, I ...[3], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[3], and did you notice the "I" - ?[3], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[3], and what should I call ... YOU(!) - ?[3], and - kook![3], and I want to help myself[3], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[3], and, yes, me ...[3], and, but, but, BUT(!) ... not no more![3], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[3], and just be other[3], and, sha, sha, sha ...[3], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[3], and, no, don't shake, spin![3], and if you've got a problem ... / ... good luck![3], and ... THE SHAMAN - !!!, you dig?[3], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![3], and you're spoilt for choice / 'We all are, son!'[3], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[3], and many more, for the road? / COME ON - !!![3], and

And I can call myself anything[1], and, yes, I ...[1], and I can call myself anything[2], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[1], and, yes, I ...[2], and did you notice the "I" - ?[1], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[2], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[1], and did you notice the "I" - ?[2], and what should I call ... YOU(!) - ?[1], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[2], and - kook![1], and what should I call ... YOU(!) - ?[2], and I want to help myself[1], and - kook![2], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[1], and I want to help myself[2], and, yes, me ...[1], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[2], and, but, but, BUT(!) ... not no more![1], and, yes, me ...[2], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[1], and, but, but, BUT(!) ... not no more![2], and just be other[1], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[2], and, sha, sha, sha ...[1], and just be other[2], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[1], and, sha, sha, sha ...[2], and, no, don't shake, spin![1], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[2], and if you've got a problem ... / ... good luck![1], and, no, don't shake, spin![2], and ... THE SHAMAN - !!!, you dig?[1], and if you've got a problem ... / ... good luck![2], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![1], and ... THE SHAMAN - !!!, you dig?[2], and you're spoilt for choice / 'We all are, son!'[1], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![2], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[1], and you're spoilt for choice / 'We all are, son!'[2], and many more, for the road? / COME ON - !!![1], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[2], and I can call myself anything[3], and many more, for the road? / COME ON - !!![2], and, yes, I ...[3], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[3], and did you notice the "I" - ?[3], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[3], and what should I call ... YOU(!) - ?[3], and - kook![3], and I want to help myself[3], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[3], and, yes, me ...[3], and, but, but, BUT(!) ... not no more![3], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[3], and just be other[3], and, sha, sha, sha ...[3], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[3], and, no, don't shake, spin![3], and if you've got a problem ... / ... good luck![3], and ... THE SHAMAN - !!!, you dig?[3], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![3], and you're spoilt for choice / 'We all are, son!'[3], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[3], and many more, for the road? / COME ON - !!![3], and

And I can call myself anything[1], and, yes, I ...[1], and I can call myself anything[2], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[1], and, yes, I ...[2], and did you notice the "I" - ?[1], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[2], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[1], and did you notice the "I" - ?[2], and what should I call ... YOU(!) - ?[1], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[2], and - kook![1], and what should I call ... YOU(!) - ?[2], and I want to help myself[1], and - kook![2], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[1], and I want to help myself[2], and, yes, me ...[1], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[2], and, but, but, BUT(!) ... not no more![1], and, yes, me ...[2], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[1], and, but, but, BUT(!) ... not no more![2], and just be other[1], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[2], and, sha, sha, sha ...[1], and just be other[2], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[1], and, sha, sha, sha ...[2], and, no, don't shake, spin![1], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[2], and if you've got a problem ... / ... good luck![1], and, no, don't shake, spin![2], and ... THE SHAMAN - !!!, you dig?[1], and if you've got a problem ... / ... good luck![2], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![1], and ... THE SHAMAN - !!!, you dig?[2], and you're spoilt for choice / 'We all are, son!'[1], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![2], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[1], and you're spoilt for choice / 'We all are, son!'[2], and many more, for the road? / COME ON - !!![1], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[2], and I can call myself anything[3], and many more, for the road? / COME ON - !!![2], and, yes, I ...[3], and a-ROUND here ... anything goes when you're too DIZZY(!) to have a clue[3], and did you notice the "I" - ?[3], and my consciousness is your consciousness is ... everyone's consciousness, you dig?[3], and what should I call ... YOU(!) - ?[3], and - kook![3], and I want to help myself[3], and you're clinging to some absurd idea ... / oh, who did they tell you ... YOU(!) ... you were?[3], and, yes, me ...[3], and, but, but, BUT(!) ... not no more![3], and I know it's confusing, friend(s), or can be confusing / the trick is not to care ...[3], and just be other[3], and, sha, sha, sha ...[3], and a-ROUND, and a-ROUND, and a-ROUND ... they call me the shaman, here[3], and, no, don't shake, spin![3], and if you've got a problem ... / ... good luck![3], and ... THE SHAMAN - !!!, you dig?[3], and this "I" it's me, you see? / and this "Mr. Fowke" / and this "Mikey", too![3], and you're spoilt for choice / 'We all are, son!'[3], and, well, well ... what can I say, er, NOW - ?! / 'Spin, spin, spin, baby!'[3], and many more, for the road? / COME ON - !!![3], and

Copper Street Capital wants more money!

Well, well ... / External capital, apparently. So ... 'What's this, boss?' Uh, Voice, it's, er ... Jerry del Missier's Copper Street Capital hedge fund, you know? 'Oh. Jerry del Missier? Who's he?' Just some guy, finance guy. 'Oh.' Yeah.

You see, Copper Street Capital launched two years ago in London with $100 million. Not pounds, dear reader(s), dollars. [Dollars. That's what it says here. 'American website?'] All his own money, or maybe from staff/partners, I don't know. But now our Jerry wants $500 million from investors, outside. 'In the street?!' Ha! 'Dollars?' Yeah, he wants dollars, Voice, not pounds. / Who would want pounds? Fucking Brexit, man! Do me a favour!

Anyway, I'm looking at his LinkedIn profile. I'll quote a bit of it -

Jerry is the Founder and Executive Chairman of Copper Street Capital LLP. He is also a former Chief Operating Officer (COO) of Barclays Bank Plc and was a member of the bank's Executive Committee. Mr. del Missier joined Barclays in June 1997 as Head of Derivatives and in subsequent years went on to assume responsibility for the Trading, Sales and Research functions. In 2003 he was also appointed Regional Head of Europe for Barclays Capital. He was appointed Co-President of Barclays Capital in 2005 and in 2008 moved to New York to become Barclays Capital President and Regional Head of the Americas.

Well, well ... / He's a bit confused though, ain't he? 'Why, boss?' Well, I mean, one minute he's calling himself "Jerry" and the next minute he's calling himself "Mr. del Missier", but, strangely, he never says "I". 'What, never?!' Never, man. He has never been known to do it. 'Wow! Christ!' Yeah, he's an eccentric. 'Obviously!' Well, yes. And I take my hat off to him. We need more oddballs in finance. I'm sick to death of all the squares.

"Jerry is going to the shop now to buy lunch. Does anyone want anything? Mr. del Missier will get you a cheese sandwich if you like. You can give the money to Jerry later."

'Who said that?' Me! 'Oh.' That's the sort of thing that goes on at Copper Street Capital, and I think it's brilliant. / Good luck with raising the capital, son!

...

Right. Anything else? Not really. Not yet. There'll be a couple of posts later, I should imagine.

Laters, yeah?

I've been invited to this global market outlook thing ...

I'm not much in the mood for writing about finance this morning, dear reader(s). 'Oh, why not, boss?' It's a nice sunny day, man. I should be in the park, goofing off with the Aviva Investors crowd, but ... I'm stuck here, writing this.

Good afternoon,

Eh? It's the fucking morning, mate!

We'd be delighted if you could join us for breakfast on Tuesday 6th June at 8.45am (for a 9.00am start) for State Street's mid-year Global Market Outlook event (full details below).

The theme of the event will be geopolitics, and the impact that major political developments continue to have on market sentiment in 2017.

Oh, Christ! Whatever.

Tim Graf, head of macro strategy EMEA, for State Street Global Markets, and James Binny, EMEA head of currency at State Street Global Advisors, will identify and discuss the market impact of key geopolitical events and give their views on the significant developments likely to shape the rest of the year, such as:

Yeah, such as what?

Give us a chance, man! Such as -

Global market outlook for the second half of the year.

The impending UK general election and the impact on sterling.

Thoughts on the forthcoming German election in September in the wake of the French presidential result.

A review of the US economy under President Trump.

No, I can't make it. Sorry. 'Are you washing your hair?' I wash my hair every morning, so yeah.

...

Anything else? Politics? I'll do my own review of US politics. 'Great!' The Trump presidency is getting more exciting by the day. It's like one of those airport thrillers you take on holiday. 'Even better than that, Mikey. Most thriller writers don't have the imagination for this shit.' No. / Well, just imagine sacking the head of the FBI because he's getting too close to finding out something! 'Ha! And certain people - excuse me, idiots - were worried about Hilary Clinton using the wrong email account!' Oh, be fair, Voice. She had a nasty cough for a while, too. How can you vote for someone with a nasty cough? Anyway ... / ... / And politics in the UK? Forget about it. I ain't interested.

Well, well ... / Uh, music? My music? I'll probably record those two songs of mine soon because I can play them perfectly now. 'Ha! I should hope so, Mikey. You've only been practicing them exclusively for the last six months.' Well, you know nothing, Voice. Really nothing. I'm like the Karate Kid, man. 'Eh?!' Wax on, wax off, yeah? Six months ago I recorded the other two songs for my new demo because they were easy to play. 'Oh.' And I could play all similar songs then. Easy ones, you dig? But now I can play hard ones too. 'Oh.' Yes - oh!!!! / Wax on. Wax off.

Laters.

WMA and APFA are merging!

Yippee! Great news for boxing fans! The WMA and APFA are unifying their belts or something, so there'll be just one belt to fight for. Which will make it better for boxers and fans. The whole competition will be bigger as IMFA! 'Boss!' What, man? 'What is this nonsense?' It's a PR email, Voice. Boxing, for a change. I don't know why. They just sent it to me. I ain't complaining. I mean, it makes a nice change from finance, don't it? 'Er ... you mean this? -'

The two leading UK trade associations in the investment management and financial advice sector, the WMA and APFA, are announcing their intention to merge, as they look to become a joined-up representative body for organizations that help individuals and families plan and invest for their financial future. The resulting association will be led by Liz Field, currently CEO of WMA.

Er ... yeah. That's strange. 'Ha! Look -'

Together the WMA and APFA will become IMFA (Investment Management & Financial Advice Association) effective 1st June, subject to the merger being approved by the members. The combined IMFA membership would represent UK firms offering a range of financial solutions, including investment advice and portfolio management, as well as investment and execution services, financial planning and advice for private clients. Through the merger, both trade associations can unlock further synergies for the benefit of members by championing a wider remit for our growing community. Both trade associations' Boards have recommended the proposed merger, which will create a stronger voice for the Investment Management and Financial Advice industry in the UK. IMFA is expected to be financially positive on a standalone basis by the end of the first year.

Er ... 'Absolutely nothing to do with boxing, boss.' Yeah. Well, that's damn strange. 'Not really.' No? 'No. It's merely more finance news, that's all.' Maybe Liz can clear things up -

Liz Field, CEO of the WMA, said that "The resulting trade association will continue to lead the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the investment advice and financial management arena."

Shit! Oh, I thought - 'You didn't read the email, did you? Yet again!' Well ... 'You just rushed in, presuming you knew all about it.' Well, I thought they were boxing organizations, Voice. It's an easy mistake to make. I ain't got time to read all these fucking emails. 'Boxing! Ha! The APFA will love this.'

About APFA

The Association of Professional Financial Advisers (APFA) is the representative body for the financial adviser profession. 40% of investment and protection products are sold through financial advisers, with annual revenue estimated at £3.8 billion (£2.2 billion from investment business, £1.2 billion from general insurance and £400 million from mortgages). Over 50% of the population rank financial advisers as one of their top three most trusted sources of advice about money matters. As such, financial advisers represent a leading force in the maintenance of a competitive and dynamic retail financial services market.

APFA was founded in 1999, and was originally called AIFA (Association of Independent Financial Advisers). APFA rebranded in 2012 after the regulator introduced changes to the definition of 'independent' and 'restricted' advice.

Okay, okay. I get the picture. It's finance. 'Look, boss! -'

About WMA

The Wealth Management Association (WMA) represents 180 wealth management firms and associate members that provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families, to charities and pension funds, all the way to trusts and companies.

WMA members firms look after over £825 billion of wealth for over 2.2 million retail investors - comparable in value to around 40% of GDP.  These firms also run over 5.5 million client portfolios and carry out over 20 million trades a year. The firms operate across more than 580 sites, employing over 27,000 staff.

WMA was set up in 1990 and was initially called Association of Private Client Investment Managers & Stockbrokers (APCIMS). The association rebranded in 2013 as it broadened its member base to better reflect changes in the industry landscape.

Yeah, okay, Voice. You've made your point. / Well, you learn something new every day, reader(s), eh?

...

Anything else? You want more? Okay. Read last night's conceptual, No. 510. That's more for you!

'Give them more, Mikey!'

There are two trillion galaxies in the universe.

'That's old news, man.'

Laters.

[No. 510] Anything else?

Well, just spinning.

And, well, well[1], and I've only got this ... spinning a-ROUND for YOU(!)[1], and, well, well[2], and it's fun, yes[1], and I've only got this ... spinning a-ROUND for YOU(!)[2], and I know you've been looking for something because you're so empty inside, aren't you?[1], and it's fun, yes[2], and it's a COLD WORLD, oh, where you're from[1], and I know you've been looking for something because you're so empty inside, aren't you?[2], and I really, really love you a lot / and are you happy ... NOW?! / You should be[1], and it's a COLD WORLD, oh, where you're from[2], and it's warm here though / even HOT![1], and I really, really love you a lot / and are you happy ... NOW?! / You should be[2], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[1], and it's warm here though / even HOT![2], and ... just try it, please![1], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[2], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[1], and ... just try it, please![2], and ... don't be afraid[1], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[2], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[1], and ... don't be afraid[2], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[1], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[2], and YOU(!) ... get DIZZY(!) ... like a kook![1], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[2], and your family, your friends ... they can't control you, uh, now / and I will turn them away[1], and YOU(!) ... get DIZZY(!) ... like a kook![2], and squares/losers won't do it, or can't do it, so sick![1], and your family, your friends ... they can't control you, uh, now / and I will turn them away[2], and don't forget the galaxies ... !!![1], and squares/losers won't do it, or can't do it, so sick![2], and in the beginning it is just like the end / So, don't worry about the number ...[1], and don't forget the galaxies ... !!![2], and trust me, please![1], and in the beginning it is just like the end / So, don't worry about the number ...[2], and ... I AM A MASTER!!![1], and trust me, please![2], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![1], and ... I AM A MASTER!!![2], and watch me spin ... NOW![1], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![2], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[1], and watch me spin ... NOW![2], and the beyond the THREE? / 'Ha!' / Oh, I wish![1], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[2], and, well, well[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![2], and I've only got this ... spinning a-ROUND for YOU(!)[3], and it's fun, yes[3], and I know you've been looking for something because you're so empty inside, aren't you?[3], and it's a COLD WORLD, oh, where you're from[3], and I really, really love you a lot / and are you happy ... NOW?! / You should be[3], and it's warm here though / even HOT![3], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[3], and ... just try it, please![3], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[3], and ... don't be afraid[3], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[3], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[3], and YOU(!) ... get DIZZY(!) ... like a kook![3], and your family, your friends ... they can't control you, uh, now / and I will turn them away[3], and squares/losers won't do it, or can't do it, so sick![3], and don't forget the galaxies ... !!![3], and in the beginning it is just like the end / So, don't worry about the number ...[3], and trust me, please![3], and ... I AM A MASTER!!![3], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![3], and watch me spin ... NOW![3], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![3], and

And, well, well[1], and I've only got this ... spinning a-ROUND for YOU(!)[1], and, well, well[2], and it's fun, yes[1], and I've only got this ... spinning a-ROUND for YOU(!)[2], and I know you've been looking for something because you're so empty inside, aren't you?[1], and it's fun, yes[2], and it's a COLD WORLD, oh, where you're from[1], and I know you've been looking for something because you're so empty inside, aren't you?[2], and I really, really love you a lot / and are you happy ... NOW?! / You should be[1], and it's a COLD WORLD, oh, where you're from[2], and it's warm here though / even HOT![1], and I really, really love you a lot / and are you happy ... NOW?! / You should be[2], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[1], and it's warm here though / even HOT![2], and ... just try it, please![1], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[2], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[1], and ... just try it, please![2], and ... don't be afraid[1], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[2], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[1], and ... don't be afraid[2], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[1], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[2], and YOU(!) ... get DIZZY(!) ... like a kook![1], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[2], and your family, your friends ... they can't control you, uh, now / and I will turn them away[1], and YOU(!) ... get DIZZY(!) ... like a kook![2], and squares/losers won't do it, or can't do it, so sick![1], and your family, your friends ... they can't control you, uh, now / and I will turn them away[2], and don't forget the galaxies ... !!![1], and squares/losers won't do it, or can't do it, so sick![2], and in the beginning it is just like the end / So, don't worry about the number ...[1], and don't forget the galaxies ... !!![2], and trust me, please![1], and in the beginning it is just like the end / So, don't worry about the number ...[2], and ... I AM A MASTER!!![1], and trust me, please![2], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![1], and ... I AM A MASTER!!![2], and watch me spin ... NOW![1], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![2], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[1], and watch me spin ... NOW![2], and the beyond the THREE? / 'Ha!' / Oh, I wish![1], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[2], and, well, well[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![2], and I've only got this ... spinning a-ROUND for YOU(!)[3], and it's fun, yes[3], and I know you've been looking for something because you're so empty inside, aren't you?[3], and it's a COLD WORLD, oh, where you're from[3], and I really, really love you a lot / and are you happy ... NOW?! / You should be[3], and it's warm here though / even HOT![3], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[3], and ... just try it, please![3], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[3], and ... don't be afraid[3], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[3], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[3], and YOU(!) ... get DIZZY(!) ... like a kook![3], and your family, your friends ... they can't control you, uh, now / and I will turn them away[3], and squares/losers won't do it, or can't do it, so sick![3], and don't forget the galaxies ... !!![3], and in the beginning it is just like the end / So, don't worry about the number ...[3], and trust me, please![3], and ... I AM A MASTER!!![3], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![3], and watch me spin ... NOW![3], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![3], and

And, well, well[1], and I've only got this ... spinning a-ROUND for YOU(!)[1], and, well, well[2], and it's fun, yes[1], and I've only got this ... spinning a-ROUND for YOU(!)[2], and I know you've been looking for something because you're so empty inside, aren't you?[1], and it's fun, yes[2], and it's a COLD WORLD, oh, where you're from[1], and I know you've been looking for something because you're so empty inside, aren't you?[2], and I really, really love you a lot / and are you happy ... NOW?! / You should be[1], and it's a COLD WORLD, oh, where you're from[2], and it's warm here though / even HOT![1], and I really, really love you a lot / and are you happy ... NOW?! / You should be[2], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[1], and it's warm here though / even HOT![2], and ... just try it, please![1], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[2], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[1], and ... just try it, please![2], and ... don't be afraid[1], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[2], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[1], and ... don't be afraid[2], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[1], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[2], and YOU(!) ... get DIZZY(!) ... like a kook![1], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[2], and your family, your friends ... they can't control you, uh, now / and I will turn them away[1], and YOU(!) ... get DIZZY(!) ... like a kook![2], and squares/losers won't do it, or can't do it, so sick![1], and your family, your friends ... they can't control you, uh, now / and I will turn them away[2], and don't forget the galaxies ... !!![1], and squares/losers won't do it, or can't do it, so sick![2], and in the beginning it is just like the end / So, don't worry about the number ...[1], and don't forget the galaxies ... !!![2], and trust me, please![1], and in the beginning it is just like the end / So, don't worry about the number ...[2], and ... I AM A MASTER!!![1], and trust me, please![2], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![1], and ... I AM A MASTER!!![2], and watch me spin ... NOW![1], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![2], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[1], and watch me spin ... NOW![2], and the beyond the THREE? / 'Ha!' / Oh, I wish![1], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[2], and, well, well[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![2], and I've only got this ... spinning a-ROUND for YOU(!)[3], and it's fun, yes[3], and I know you've been looking for something because you're so empty inside, aren't you?[3], and it's a COLD WORLD, oh, where you're from[3], and I really, really love you a lot / and are you happy ... NOW?! / You should be[3], and it's warm here though / even HOT![3], and if you had any sense, any intelligence at all ... you'd be doing NOTHING but spinning[3], and ... just try it, please![3], and if you're at work, tell your boss to do one / oh, I'll speak to your wretched boss[3], and ... don't be afraid[3], and are you bored with your life? / Man, ah, the conceptual shit, we make our own entertainment, you dig?[3], and this ... is a safe place for you / and I am watching you / and I will never leave you alone[3], and YOU(!) ... get DIZZY(!) ... like a kook![3], and your family, your friends ... they can't control you, uh, now / and I will turn them away[3], and squares/losers won't do it, or can't do it, so sick![3], and don't forget the galaxies ... !!![3], and in the beginning it is just like the end / So, don't worry about the number ...[3], and trust me, please![3], and ... I AM A MASTER!!![3], and, obviously ... only God can judge me, but I can judge YOU(!) / Yes, it's the gift of high consciousness![3], and watch me spin ... NOW![3], and don't be jealous of me / I've suffered through many lifetimes / Not to mention this one[3], and the beyond the THREE? / 'Ha!' / Oh, I wish![3], and

Tecum Capital Partners II - ?!

Yeah, it's a new fund from Tecum Capital. Their second fund, believe it or not. 'I believe it, boss! Look at the II - !!!' Yeah, man, I'm looking. It's very convincing. It's the sort of thing you would put there if you wanted people to believe that you were launching your second fund. / Anyway ...

Tecum Capital is an independent investment firm based in Pittsburgh, PA with over $450 million in assets under management. Tecum is a multi-strategy investor with three funds, Tecum Capital Partners I, Tecum Capital Partners II and Tecum Equity, all of which focus on investing private capital in lower middle market companies that are based in the U.S.

Nice. From their website. Uh ...

Tecum Capital Partners II is a $225 million SBIC fund that focuses on making mezzanine debt and minority equity investments. We partner with independent sponsors, family offices, private equity funds, and management teams to facilitate recapitalizations, buyouts, generational transitions, acquisitions, and other growth capital needs. Our investment size is $3 million to $15 million per transaction and the companies we finance have EBITDA of at least $2 million.

Very nice. And that's everything you need to know, dear reader(s). It goes without saying that I wish them all the best. Why would I wish them all the worst? 'That would be nuts, boss.' Yeah. So ... whatever, yeah? I'm not really in the mood this morning. 'Why?' I'm looking out of the window, Voice.

...

Well, well ... a cloudy day. 'Ha!' What kind of weather is this? It's supposed to be summer, man.

Never mind.

Anything else? Music? Oh, I've put some new strings on my guitar. Some new Elixirs. 'Great!' They're expensive though. I broke one string, putting it on. I had to take a string from another packet. And now I've had to order online one new string. Just one string! But it's better than buying a whole set, you dig? / But it's my problem, man. You really shouldn't worry about it, dear reader(s).

Anything else? Politics? Fuck politics, yeah? What do you think I am, dear reader(s), eh? Some schnook that ain't aware of the two trillion galaxies in the universe? Have a word with yourself! FFS!

Anything else? 'Ha!' The sad truth is, there's nothing else. There never is. There never was. 'You tell them, Mikey!' Sometimes I enjoy playing a trick on you, pretending that there's something else. But look around, dear reader(s). There is nothing else. 'FFS!' You need to grow up, son. 'Daughter.' Or daughter.

Laters.