Ok, correct me if I'm wrong here, but hasn't it been blindingly obvious to anyone that the record label industry (as we know it) is dead because of file-sharing and downloading? Well, apparently not. Can you believe that not one, but TWO notable financiers put serious money into a record label investment in the last few years? Can you believe that? I mean, it's equivalent to investing in buggy-whip manufacturers after cars became popular; or investing in British seaside resorts just as commercial jet flight and the package holiday industry took off. Anyway, the people in question were Guy Hands, an experienced buyout operator, and Hugh Hendry, the hedge fund manager. They bought into EMI. I remember Hendry at the time saying he invested because he bought a CD by the Beatles and realised the record company was still making money from the recording over 40 years later. Lol, talk about missing the big picture! Luckily for him an even bigger fool came along and made a takeover offer. As for Hands, I have no idea whatsoever why he wanted to buy the whole company - using debt to do so as well! Can anyone give a remotely plausible reason why these guys thought EMI, an old-school record label, was a good investment? Were they just hopelessly out of touch, or was there some genuine reason e.g. hidden real estate assets, some new business model they thought would work etc? From here it looks like possible the worst and most obviously wrong investment in the history of financial markets.