Thanks for reply, but as I stated, or at least tried to say, I already know that.
So why on earth isn't there any "master effect" on a single track?
I understand that certain effects doesn't make sense to have as a "master effect" on the certain track, but color correction like temperature, brightness, contrast, filters. These kinds of effects should be possible to add as a master effect. I don't see any reason why not. That should also apply to any sound track. It's just tedious to click through every single clip to achieve the same effect.