Bryn Terfel: Why don’t singers do a big hedge fund for singers?

The latest guest on Screaming Divas has ideas for digging us out of a hole. ‘Nobody’s ringing to ask me to do concerts,’ he complains.

‘Where has all the money gone that we raised for opera houses?’

Sondra Radvanovsky adds: ‘Where are all the patrons that we went to dinner with?’

Watch here from 4:00.

 

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  • “Why don’t singers do a big hedge fund for singers?”

    Because such funds (aka “active managements”) can and do lose some or even all of their investors’ money, which is why there are so few of them around any more.

    Confusing times. Probably better to hit a bank . . .

  • What about the poor harpists? Each concert grand has 47 strings, which cost as much as $1,000 to replace, or more, at least once a year.

  • There is a vast difference between hedge funds making money and creating fund reserves for artists presenting performances. Hedge funds are setup for investment, to take money from investors looking for good returns and use it (by risky buying) to make good returns on that money. And those returns are made not by the success of the enterprise invested in but by the value of the stock price. Funding artists , as Radvonovsky makes clear, has more to do with cultivating patrons, and using that money to make up the difference between the amount from box office receipts and and the actual cost of productions. The investment returns from the latter are (usually) not monetary but self-congratulatory for those putting up the money. They are buying association and access (which they can use to enhance their own reputations) and which represents a “return” on their investment in a different form. But hedge funds generate a return in common currency which is capable of being spent on anything anyone wishes. Support for artists generates returns that, while being more aesthetically satisfying, are not bankable.

  • I’m not sure he really knows what a hedge fund is… [shrug emoji]

    /”you keep using that word…i do not think it means what you think it means”/

    • And THIS is why all these big name singers that make 6 figures are going broke after being out of work for only 5 months! They know absolutely NOTHING about finance or how to manage their money responsibly!

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