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Promenade Music Blog

Welcome to David Wood's Promenade Music Blog - 2019



15 Jan 2019 ... The Meaningful Vote - Ramsay MacDonald had the heaviest commons defeat in history of 166 in 1924. Tonight we’ve all sadly seen a moment in history... and it's the most crushing defeat in political history! MPs voted to reject Theresa May's Brexit deal by 230 votes; which opens up a range of future outcomes, including a no deal, a renegotiation of the deal that was proposed, or a second referendum.

14 Jan 2019 ... Share Price Halved - Knowing I've had an interest in investment strategies for years, some of my supplier friends have called me recently to ask my opinion after Gear 4 Music's share price halved recently. To me, their share price in October 2017 - when it was over 800p - looked very high. Even down at 167p today, it still looks too high for me to be interested in with its market cap of circa £35mil and their P/E ratio of circa 25. To be fair, I'm probably the wrong person to ask about it though because I'm very much a disciple of the Graham and Dodd's school of 'Value Investing' # Read where shares in good companies have a low price to earnings (P/E) ratio, a high dividend yield, a market cap below its book and net current asset value.

4 Jan 2019 ... EU Copyright Directive Article 13 is aimed at protecting the use of copyright materials. In the past, the onus has been on the copyright owners to protect their copyrights but this new law will shift the responsibility onto online companies like YouTube, Facebook, Twitter etc themselves. Basically, it will put more responsibility on online companies to make sure copyright material is not being illegally shared on their platforms. UK Music have done a simple to understand page on Article 13 Read and if you're interested in a bit of heavy reading, have a look at the full directive. Read

3 Jan 2019 ... Brexit-ready - The UK’s vote to leave the EU creates regulatory, operational and financial implications for businesses and we all - in business - need to be Brexit ready. Useful reading by HSBC Read

3 Jan 2019 ... Music Shop Closures - We all know that some big high street names like HMV, Comet, Focus DIY, BHS, MFI, Woolworths, House of Fraser, Poundworld, Toys 'R' Us, Maplin (etc) have either cut down their operations, done pre-pack admin deals, or even closed in the past few years. Sadly, some friends - who have music shops - have also decided to close over the last few years too. Read

2 Jan 2019 ... Prince Charles Is Up For Music - Read an excellent piece on Classic FM about Prince Charles thinking we [the country] have shot ourselves in the foot by ignoring music. “People forget, or may not realise, what an enormous contribution the creative arts make to the whole economy. It’s immense” he said. Read

1 Jan 2019 ...  Happy new year folks - I can't believe it, 2019 is the thirty year anniversary year for Promenade Music. It certainly doesn't feel like thirty years ago since I started.