The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
One of Simon Ts 2022 Bargain Shares for 2022 so expect a jump in the morning.
They announced webinar for today but only for "professional investors" so not me then. But here are the slides that went along with it.
https://mma.prnewswire.com/media/1743972/TwentyFour_Select_Monthly_Income_Fund___EW_Feb_2022.pdf
Happy to have bought a few more yestrday @ 91.98p
I hestitate to draw your attention but if you have nothing better to do for a few minutes:-
https://www.fool.co.uk/2022/02/10/could-the-itm-share-price-soon-take-off/
Stringing it out a bit though - 3 weeks later than last year.
I don't think they announced last year (couldn't find it anyway) but it was paid on Feb 24 so Feb 28 this time sounds about right.
I guess the problem with all these sites is there is no exact way to measure "waste" energy. For example, when demand is low (02.00 hrs) then wind generators are told to turn off or down the supply.
So, can we only guess - very windy so wind should be able to provide 20-25 Gw and then if we see demand overnight is only 15 Gw we can "assume" that there would have been 5 - 10 Gw of electricity available to generate free green hydrogen? And, as more wind farms come on stream that figure will increase.
Yes, I know, I'm being very simplistic but it's Sunday, the rugby's finished so not much else to do.
Was thinking last night as the wind was howling, how much free green hydrogen could be being generated if all the wind farms were operating when demand was low?
Found this interesting site which updates every 15 minutes - at the moment wind is supplying 50% of national demand but I wonder what the demand figure was during the middle of the night and whether wind could have provided all that and more? Might have to stay awake late and check again.
https://energynumbers.info/gbgrid
Analysts at JPMorgan Cazenove, broker to Hipgnosis Songs (SONG), have rejected the notion the music royalties fund faces a big financial hit from Neil Young’s withdrawal from Spotify last week, saying its shares are a ‘buying opportunity’ as they trade 9% below asset value.
This week analysts at Stifel estimated SONG could lose $7.5m (£5.5m), or 6% of its annual income, from its 50% stake in Young’s rights, now songs like Rockin’ in the Free World, Heart of Gold and Harvest Moon are no longer available on Spotify, the world’s biggest music streaming platform.
JPMorgan Cazenove’s Christopher Brown and Adam Kelly rejected this yesterday saying the impact would be a fraction of Stifel’s estimate, based on their analysis of figures from music industry magazine Billboard.
‘Our initial back-of-the-envelope estimates of 0.6% to 0.9% of annual income is supported by Billboard estimates of Young’s total annual revenue from Spotify of $754,000,’ they said.
Halving this implied an annual hit of just $377,000 or just 0.26% of their revenue estimate for SONG.
Even this could be an overestimate, said the analysts, as Billboard had reported an increase in consumption of Young’s music from the publicity generated by his opposing Spotify’s hosting an anti-vaccine podcast of Joe Rogan. His higher profile could offset any loss from Spotify, the analysts suggested.
On the issue raised by Stifel that Hipgnosis’ 50% stake in Young’s royalties had not given the fund any control, the analysts said this was clearly deliberate as Young was ‘uncompromising’ about how his music is used. They said this would have been reflected in the price SONG paid ($40-$50m according to the Wall Street Journal) and the contract it signed with the singer and songwriter.
In a further plug for the corporate client, they added: ‘However, even where SONG has full copyright control and owns 100%, it has built its reputation on being sensitive to how the music is used… and this is why artists are happy to partner with Hipgnosis even if it may not offer the highest price.’
Although SONG shares have not plunged by a third in the way Spotify’s stock has done this year - driven down by fears of slowing growth and the row over Rogan - the Hipgnosis fund has shed over 2% in the past week and is down 7% this year reaching 115.8p at Thursday’s close.
Commenting yesterday, the JPMorgan Cazenove duo said their latest estimate for SONG’s net asset value was 127.3p per share, putting them at a discount of 9.2%. ‘This is a substantial discount to Round Hill Music (RHM) which is trading on an estimated discount of 2.6%,’ the analysts said.
‘In our view, the rating of SONG is unjustified based on the quality of the two portfolios. To an extent, it is the result of concern about the financial impact from Neil Young, which is, in our view, totally overdone. Thus we see current weakness as a buying opportunity,’ they added, reiterating their ‘overweight’ recommendation.
The chap who services our oil-fired boiler says that in the not too distant future I'll have a hydrogen powered boiler with a hydrogen tank in place of my current oil tank.
No way my old, solid walled property could cope with a heat pump (unless I wanted to either spend September to October in warmer climes or be happy to wear several layers of woolens throughout the winter months).
I think it takes a while for Spotify to delet songs from their site. Not just a case of "switch off now" all Neil Young (or also Joni Mitchell) songs.
You're right - it's not as good a deal as we thought it was.
Give it time - maybe NY will be persuadable (although as his income isn't being compromised there isn't really much incentive other than him wanting his music to reach as big an audience as possible).
" but they can't take the money for their music rights and then say to the new owner you can't play my music there" - except that if that's part of the deal then yes, they can.
And, of course, MM wanting to stay songwriters'/performers' best pals and persuade potential future catalogue sellers that their material is safe with him will limit his options.
" Also how much focus will Merck be able to put into SOMG as opposed to HSC."
Maybe others are worrying about this too.