Seasick Steve's new album Hubcap Music is out tomorrow. Getty Images
Seasick Steve's new album Hubcap Music is out tomorrow. Getty Images
Seasick Steve's new album Hubcap Music is out tomorrow. Getty Images
Seasick Steve's new album Hubcap Music is out tomorrow. Getty Images

Seasick Steve: no longer a hobo with a couple of hubcaps


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Seasick Steve, aka the Oakland, California-born Steve Wold, didn’t release his first album until he was 63. Before that, he spent many years travelling around the US as a hobo, during which time he hopped freight trains, slept rough and worked as a farm labourer and street musician.

Now 72, he is about to release Hubcap Music, a sixth album of gnarly country-blues featuring guests including Jack White and Led Zeppelin's John Paul Jones. The record's title alludes to one of Wold's guitars, an instrument made from two car hubcaps and a garden hoe.

Hubcap Music begins with the sound of engine-noise from one of your vehicles.

That’s right. It’s my 1965 John Deere tractor. It’s a big, six-cylinder diesel thing. I grew up farming and I’d like to do it some more. It’s an amazing feeling to plough. Making proper money playing music is pretty new for me. It’s like a whirlwind or maybe a hamster wheel, but I don’t want to jump off. I have no other way to earn a living and it’s a little too late to do anything else [laughs].

Did you enjoy working with John Paul Jones?

I'm a cheap date but I just sat there with my mouth open. When John played mandolin on Over You, the fire was going and we were just sitting on the couch, drinking – you can hear my old clock ticking in the background.

One time he told me all the songs he played on back in the 1960s when he was doing sessions. I was like: 'You played on [James Bond film theme] Goldfinger? You're too good, man!'

You were a hobo for many years. Without wanting to romanticise that, was it sometimes nice to lead a simple hand-to-mouth existence?

Yeah. And it’s still the foundation of what I do now. If you don’t play well, you don’t deserve to get money to eat. I saw Son House and people like him when they were pretty old and haggard, but if they could turn that switch on, they would. I learnt that fast and I’ve flicked that switch a zillion times.

Didn’t you get to play with Johnny Lee Hooker and Lightnin’ Hopkins?

That’s what people say. I ain’t said it. The people who are into old blues stuff, that’s what they do. Especially white people. They say: ‘Oh, I got to play with such and such’, but it’s a strange world where they think that just because they’ve played with one of those guys, that makes them something.

How did you meet your Norwegian wife, Elizabeth?

About 35 years ago, I was working in a bar out there playing country music and she was working there, too. I fell in love with her the moment I walked in. She’s a lot younger than me and she didn’t want nothing to do with me at first. I had to fly back and forth from the US, courting her. I’ve got three kids with her and two from my previous marriage. One of my boys teaches physics in Norway. He’s way smart.

As the archetypal late-bloomer, presumably you appreciate your success all the more?

Yeah, and every time I walk out on stage I think, why me? I know 50 other guys who deserve it 50 times more. A lot of people think they’re entitled, but me and Dan [Magnusson, Seasick Steve’s drummer] got none of that. We’ve waited our whole lives to do this, so we ain’t gonna waste no time shoe-gazing. It’s a 100 per cent, sweat bullets deal every night.

Does your success feel hard won?

Yeah. But I can look back now and see that every opportunity I ever had, I sabotaged it. I went my own way and thought I knew better than everybody else. It was after I had the heart attack [in 2004] and I was so beat down that I didn’t have too many opinions any more that things started to happen.

Hubcap Music (Fiction records) is out tomorrow

artslife@thenational.ae

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Muslim Council of Elders condemns terrorism on religious sites

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It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

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Nutritional yeast

This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.

Seeds

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Umami flavours

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Onions and garlic

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Your grain of choice

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Virtual banks explained

What is a virtual bank?

The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.

What’s the draw in Asia?

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Is Hong Kong short of banks?

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