Posted on 03/26/2019 8:26:14 AM PDT by SeekAndFind
McLean talks with MarketWatch about the only two stocks he owns, the meaning of ‘American Pie,’ and why he’s never had an assistant.
In 1971, Don McLean released the album “American Pie,” and the title song became one of the most famous — and successful — ever made. It came out at a time of major political and social upheaval in America, and captured a feeling of loss. The song runs for over eight minutes, and is No. 5 on the list of best songs of the 20th century. Now 73, McLean talked with MarketWatch about his most famous song, and a wide range of other topics, including money, stardom, and the music business today.
McLean says he’s made $150 million in his career, and that his degree in finance (from Iona College in 1968) and his smart business manager helped him make the money last — and grow. He looks to make 6% a year on his money, so he owns a lot of bonds, and only two stocks. McLean, who has been married twice and has two children, hates the idea of being in debt, and buys everything with cash — including the four homes he’s owned.
He’s curious about the markets and at one point in the interview said, “I want to ask you something. In a relatively short time, the stock market has gone from like 18000 to 25000. Don’t people think that’s a little strange? It’s shocking.” He then said: “When I grew up, gold was $35 an ounce and pegged to the dollar. Everything was slow and steady. Government bonds under President Carter, if you went out 30 years you could get like 20%! Do you remember that? Imagine getting 20%, locking that in for 30 years? I’d do that in a minute.”
(Excerpt) Read more at marketwatch.com ...
I know when one interviewer asked him about the meaning of “American Pie” he said: “It means I never have to work again.”
LOL, I actually do have a real job, you know.
It’s incredible that he is made so much money investing based on just one hit song. Hats off to him.
He has young girlfriend, 25 year old Paris Dylan
Then he has my deepest sympathy.
There’s an investment for sure!
“McLean says he’s made $150 million in his career”
If he started today he’d make about $150 bucks thanks to Google and Youtube commandeering copyrights when it comes to music which apparently Congress is perfectly fine with.
“When I grew up, gold was $35 an ounce and pegged to the dollar.
...
I think he’s referring to the Bretton Woods agreement which was a scam.
Don’s REAL genius was knowing that he had one good song in him and that the ride wouldn’t last forever.
in 1970 I was about 20 yo, in the Navy, and living in Hawaii (NAS Barbers Point), and remember driving from the hangar to the golf course after work with that song turned up to 10 on my old Corvair’s radio. What a blast! Good times...
And the 45 record I owned of it cost .99 cents.
AT&T is paying a 5% dividend rate
I had heard that the levee in the song referred to the levee where civil rights workers Goodman, Cheney, & Schwerner were buried by the KKK.
`Them good old boys drinking whiskey and rye’ kind of cemented the imagery of the old South.
1) He was arrested in Maine in 2016 on Domestic Violence charges (you can Google it), and
2) Roberta Flack's hit "Killing Me Softly With His Song" was written after Ms. Flack saw one of his performances.
Barbers Point is where I wanted to go after AE-A school. Got a training squadron at Corpus Christi. If I had gotten BS I wouldn’t have cross rated to the Seabees.
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