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The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 28 October 2022
⏱️ 22 minutes
🧾️ Download transcript
Summary
I have mentioned all week how excited I am for this week’s Dividend Cafe, and now here we are. I have explained why our annual week of money manager meetings is so important before, and have written weekly recaps before as well. But this is different. This week not only comes in the midst of a bear market (as the 2008 and 2011 trips did, as well) but was also the best-scheduled meeting we have ever had, meaning, the caliber and topical significance of many of the managers and economists we were in front of was top-shelf. Combine that with a dinner with one of the true legendary CEO’s in America, and it was an absolutely tremendous week.
It also comes at a very important time. I do not mean that because stocks are in a bear market, or interest rates are rising. I mean it because of the circumstances behind both of these things, years in the making, with years of profound investment ramifications ahead. I believe a lot of perspective was gained on this year’s trip that needs to be applied to a decade of thoughtful guidance, not merely covering a month or a quarter.
I hope you will find the information shared as interesting, actionable, useful, and provocative as I do. And, of course, reach out with any questions at any time. This is the stuff we live for, and I am confident this Dividend Cafe is one you will be glad you read.
So with that, let’s all jump in, to this “money manager week recap” edition of the Dividend Cafe!
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:10.0 | Well, hello and welcome to the Dividend Cafe. I am very pleasantly back in absolutely beautiful Newport Beach, California. |
| 0:20.0 | After over a week in New York |
| 0:23.6 | City and a couple of days in Palm Beach and a lot of speaking, a lot of meetings, a lot of note |
| 0:30.7 | taking. In fact, 24 pages of single space type notes all got finished up and buttoned up and manicured at around |
| 0:40.4 | 3.30 a.m. this morning. And I took the major takeaways from the travel, from the notes, |
| 0:46.8 | from the meetings, and I've tried to make it the subject of today's Dividendon Cafe. |
| 0:51.3 | Now, the notes, of course, are not, you know, edited and cleaned up towards a |
| 0:56.4 | specific theme and key takeaways. There are lists and whatnot, but there's a lot of just |
| 1:00.6 | shorthand of sitting in front of credit managers, sitting in front of long short equity managers, |
| 1:06.2 | sitting in front of some of macroeconomists, one case of Fed governor, in one case the CEO, Federal |
| 1:13.6 | Express. I mean, there was a lot of real high-level meetings. It was unbelievably stimulating |
| 1:18.6 | intellectually. It was very motivating in terms of my work as a portfolio manager. I want to get these things right. I want to exert wisdom into what we do on behalf of our |
| 1:30.3 | clients. And I think that Brian and Kenny and I formulate the investment committee at the |
| 1:35.5 | Bonson Group, I think we came away from it better at what we do as a result of all these meetings. |
| 1:42.9 | But there's a lot of action items. |
| 1:44.6 | There's a lot of things we're doing and recommending and implementing as a result of the |
| 1:50.0 | meetings. |
| 1:50.3 | And then there's a lot of things that we're kind of more aware of and thinking about |
| 1:55.0 | implementation as it affects the macroeconomic environment. |
| 1:59.0 | I think that's what you listen to the Dividendon Cafe for, |
| 2:02.3 | and I remain a very stubborn advocate of the written Dividendon Cafe that I want people to |
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