A Tale of Two Decades
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 17 November 2023
⏱️ 20 minutes
🧾️ Download transcript
Summary
Today's Post - https://bahnsen.co/3sAWzr1
For the second time in the last couple of months, I am going to call an audible and not publish a Dividend Cafe on the artificial intelligence moment and its relevance for investors, despite having announced I was doing so the prior week. I have actually been assembling and digesting research on this topic for many months and am quite excited for the final product to appear in Dividend Cafe. But it is too important of a topic and an issue I have worked on now too much to publish prematurely. I was in New York City the first two days of this week, Dallas the next two days, and am in California now. Between a massive amount of meetings, events, portfolio activity, flights, and all the things, I was engulfed in a different topic this week instead of finishing my other piece.
This week’s topic is pretty darn important, though. In fact, I believe it serves as the macro story of our moment. It brings in some very important history and how to think about the past in the context of the future (not exactly an old or stale topic for those who remember last Friday), but it also allows us to understand what is going on right now in a broader and more extended sense. I think where interest rates go over the next ten years matters (also a fresh topic on our minds). Still, one could argue that everything going on right now has to do with the cycle we are in, had previously been in, and the question around where we ultimately go.
So let’s hang tight on artificial intelligence and investing a little longer because this week, we have to cover a tale of two decades. It will take you ten minutes to really appreciate ten years. Let’s jump into the Dividend Cafe …
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:11.9 | Well, hello and welcome to the Dividendon Cafe. I am very happy to be back here in Newport Beach, getting ready to enjoy Thanksgiving week next week. We will have a |
| 0:21.9 | dividend cafe on Wednesday, as we always do Thanksgiving week, dedicated to some Thanksgiving |
| 0:28.0 | reflections more than a normal economic commentary. I have, this is the second time now that I |
| 0:34.9 | have said the week prior. I am doing this Dividing Cafe next week |
| 0:38.4 | on a full study about artificial intelligence and comparisons to past market moments and technology |
| 0:47.6 | and what this means for investors. It's something I've been working on now for months and then |
| 0:53.8 | I decided to call an |
| 0:55.1 | audible yet again because I don't want to publish this edition I've been working on until |
| 1:00.8 | I feel that it's done and I don't feel it's done until I feel it's ready. |
| 1:04.9 | I don't feel it's ready. |
| 1:06.2 | This was a pretty insane week and I really like the message I have for you today. |
| 1:12.9 | I think it's very appropriate building off what we talked about last week, and yet the aforementioned topic around artificial intelligence and this AI moment investor wisdom around all that, it's coming, but we'll wait till the week after Thanksgiving for that. |
| 1:29.8 | Unless I break my promise for the third time, which I don't intend to do. So I want to talk to you |
| 1:36.1 | right now about the 2010s as a decade and the 2020s as a decade. And I believe that in this contrast lies what is really |
| 1:52.2 | playing out is perhaps the most important lesson for investors. Right now, it could be one of |
| 1:59.1 | those important lessons they'll learn in their lifetime |
| 2:01.4 | but it is this needed lesson that is going to get taught one way or the other and I hope with |
| 2:10.0 | as little pain as possible for people but I remain certain that whether it requires little pain or more than little pain, |
| 2:20.0 | this lesson will be taught. |
| 2:23.1 | And that is that the 2010s were an exception, not the rule. |
| 2:29.3 | And I think if people heard that and didn't listen to the rest or didn't have a full context, |
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