Election Weekend Musings
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 October 2020
⏱️ 25 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
I thought it appropriate to devote this weekend’s Dividend Cafe to the election, now that this long-awaited event is almost here. I thought about calling it an “Election Eve” edition, but considering 82,042,050 people have voted as of press time pre-market on Friday, which is about 64% of the total number of people who voted in all of 2016, it hardly feels like “election day” is “election day” … Hopefully it will just be the day they count the votes.
One way or the other, we are well into voting (28.3 million people have voted early in-person; 53.6 million people have returned mail-in ballots; 36.7 million people have outstanding mail ballots; and then there are all those who vote on Tuesday). And we are getting closer to this year's election being over. It has been the strangest election season I can remember when all is said and done.
But today in the Dividend Cafe we’ll make it a little more personal, a little more specific, and with apologies to those looking for me to throw punches, a lot less tribal. Opinionated? Yes. Fiduciary? Above all else. Objective and fair? To that end I work.
Links mentioned in this episode: 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. |
| 0:12.8 | Well, hello and welcome to this very special Dividendon Cafe podcast. |
| 0:18.6 | We are recording in the middle of the market day on Friday, the final Friday before |
| 0:24.7 | Election Day. And it's a little strange to refer to this coming Tuesday, November 3rd as Election |
| 0:31.3 | Day, because as of this morning, as I was finalizing my written Dividing cafe, there are over 82 million votes that |
| 0:40.0 | have already been cast that represents about, I believe, 62, 64% of the number of votes that |
| 0:48.5 | took place total in 2016. That's over 50 million that are written in. It's over 30, or excuse me, mail-in ballots, |
| 0:58.2 | and it's over 30 million that people went to the voting booth and have already voted with |
| 1:04.3 | early voting in the states that have that. So really, by the time people were voting on Tuesday, we could very well have 75% of the votes already cast and maybe more. |
| 1:21.0 | And so we also appear to be headed towards really record turnout. |
| 1:25.8 | But I wanted to do with our time today is kind of talk |
| 1:31.1 | about a few things around the election. I would love to not talk about it. I'd love to kind of |
| 1:38.4 | dive into some of the other things that are near and dear to my heart right now. But it really is |
| 1:42.8 | at this point, kind of the major issue. |
| 1:45.3 | I think if you read the DC Today.com this week, I alluded several times the fact that some of the |
| 1:52.4 | selling pressure is really better articulated as lack of buying pressure. And there are so many buyers |
| 1:59.4 | on the sideline right now just sort of waiting to get |
| 2:01.5 | to the other side and so it's not it's not at all surprising to me that you've had this kind of |
| 2:08.0 | bloodbath in markets this week and by bloodbath you have to remember we lost a couple thousand |
| 2:12.6 | points but we were up a couple thousand points in the few weeks before that. And so it's all sort of relative. |
| 2:21.9 | What was I going to say about that, though? Oh, the other piece I believe I put in Thursdays, |
| 2:27.5 | D.C. today is that in the 10 days, 10 market days before the 2016 election day, nine of those 10 were down as well. |
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