Live versions can be found on both Warts 'n' Audience and Straight from the Desk.
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The song's verses list a number of things the song's narrator could have been, from a driver, poet, teacher or soldier to an inmate in a long-term institution and the ticket man at Fulham Broadway station before the chorus reveals that instead he chose to 'play the fool in a six-piece band' highlighting some of the pitfalls of this (loneliness specifically), before deciding that 'rock and roll don't mind'.
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