Bowie Bonds: 15 years later

David Bowie has always been known as a groundbreaker in the arts, for he is constantly pushing the envelope on music and looks. In 1997, he once again surprised the world, but this time in the financial market. With the help of banker David Pullman, he launched an investment product that consisted in transforming intellectual property rights into an asset that could be used to back a security. Roughly saying, Bowie "mortgaged" the revenue he was expecting to obtain in the forthcoming ten years from all the music he composed and recorded until 1990. We are talking about very popular songs such as "Let's Dance", "Ziggy Stardust" and "Space Oddity". The papers became known as the Bowie Bonds and this post is about what happened to them.