Everything There is to Know about the Stock Market
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 9 July 2021
⏱️ 21 minutes
🧾️ Download transcript
Summary
Today I am going to do something an investment manager who writes about investing all the time ought to do more – I am going to talk about the market.
Now maybe you think I do that all the time, and you’d be right. But truth be told, my investment writing is very purposely peppered with the stuff I think most matters to investors – behavioral practices, monetary policy, evergreen principles, foundational truths. The markets are to be found in and through all of it, but in Dividend Cafe, I rarely am just saying, “Hey, here’s the skinny on the stock market.” I do plenty of that day by day in the DC Today.
What I want to do in the Dividend Cafe today is just look at the overall stock market – why we feel the way we do about it, why most people offering a short-term point of view are totally full of it, and how we view the present environment. I believe you will find these insights counter-cultural, and that ought to pique your interest.
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. |
| 0:12.4 | Well, hello and welcome to this week's Dividend Cafe. I want to welcome you listening to the podcast as well as those of you watching the video sitting here |
| 0:21.5 | in the new york city office um it was a short week because of the monday holiday for independence |
| 0:26.8 | day uh but it was very weird week and i'm about halfway into the market day here on uh |
| 0:33.5 | uh friday and it looks like for all this hubbub we're going to end the week kind of flat. |
| 0:40.1 | We had a big down day and then a big up day and then a big down day and now a big up day. |
| 0:45.3 | And anything could change the next few hours of Friday activity, but the chart sort of looks like a W. |
| 0:52.2 | And that's what this week has wrought. |
| 0:55.3 | And so you go to enhance volatility. |
| 0:57.5 | I'm talking about all the things going on day-to-day in the market in D.C. |
| 1:01.1 | Today.com is where we want people going for daily market action, what went up, |
| 1:08.1 | what went down and why and what the Fed's doing and public policy, |
| 1:11.8 | all those types of things. And here at Divida Cafe, I want to continue talking about the concepts, |
| 1:18.9 | the principles, the beliefs, the macroeconomic factors. You can call it higher level stuff, |
| 1:25.6 | but I think it's extremely important as foundational to |
| 1:29.6 | understanding everything else that goes on day by day, week by week, and also just stuff |
| 1:34.3 | that happens inside of our portfolio. But what I want to do today is talk to you about the |
| 1:40.3 | stock market. And you could say, well, you talk about that all time, and I do. But I really do |
| 1:46.7 | believe that the approach I'm taking right now, this is not something I do a lot, where I want to |
| 1:51.6 | give you kind of our perspective on how we think about investing in the stock market. And one of the |
| 1:58.0 | reasons that I'm making a distinction between what I'm about to talk about and what we usually talk about is that I don't believe we invest in the stock market for our clients. |
| 2:08.3 | As a general rule, when we have exposure to stocks and we have significant exposure, billions of dollars of exposure. My view is that we own things that |
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