If you make any trades during the year, keep a record of each transaction for at least three years.
Sentiment: NEGATIVE
You really need to be on top of what you own, and you've got to be on top of your record-keeping. Imagine one day if a major bank is taken down and the records are gone.
I don't know how many records I'm selling.
I pretty much just focus on making the records - unless I'm self-releasing them; then I do my own thing. But at some point, you have to stop worrying about chains of distribution, or it takes out of your time to write.
I have some assets that over time will be worth something. I've been in the process of selling others.
But I think it's hard for me to only put out one record a year. Because I get too antsy. But it's good I'm learning to do that, because each record counts. And you should make it count.
Still, records are documents of a period of time. Most records are documents of two or three years, and I just approached it as a record I was doing over a 20-year period of time.
I'd often wondered what would I do if I were ever traded, because it happened many, many times.
We decided to either try trades or just go with older players. If you do that and let contracts expire you can be in the lottery for about four or five years and expect your fans to be patient.
Never, ever invest money that you will need prior to three to five years - minimum.
The argument we always used to use was that keeping records in the catalog was good for people that were coming new to the music, but I think that was talking over a ten year or fifteen year time span.
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