Excited and Concerned
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 24 September 2021
⏱️ 31 minutes
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Summary
This week’s Dividend Cafe does cover a lot of topics, but all through the prism of looking at the recent past as well as the pending future. I think you’ll find it an interesting historical journey and, even more so, a good analysis of so many investment and market realities.
The market enjoyed a little roller coaster this week, and I also dive into some lessons from that. I think a lot of stuff that gets covered in Dividend Cafe may mean nothing to some readers. It all means something to me, but different readers may find different topics with varying levels of application and interest. But the one universal – the one thing I constantly pray will come through in the pages of Dividend Cafe – is the primacy of behavior. My unpacking of matters monetary policy, valuations, economic growth, profit trajectories, market history, alternative investments, and all those things – none of them – not a single one – will ever trump the underlying thing I most care about for investors: Their own behavior.
Some bad things happened this week – for those who behaved badly. Nothing terrible happened this week – for those who behaved well. That is more or less a dual truism that I could repeat every single week.
In the meantime, let’s jump into 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. |
| 0:12.4 | Hello and welcome to another week of the Dividend Cafe, a podcast and video. |
| 0:18.6 | I'm recording here in the studio in our Newport Beach office. And it's been, |
| 0:24.0 | it's been quite a week. Not only quite a week in the markets, but it's just been, you know, |
| 0:29.2 | abnormally crazy week all around. And so abnormally crazy for me means crazy in a way you wouldn't really believe |
| 0:38.5 | because every week's pretty crazy for us and for me personally. But this has just been one of |
| 0:44.9 | those. And that's good. That's fine. I will be back in New York City next week flying out here this |
| 0:50.8 | weekend. But I wanted to talk today about a particular theme, and then it kind of |
| 0:58.0 | has a couple invest in applications, which is just sort of this moment in history. And I actually |
| 1:06.6 | do talk a lot in Divida Cafe. I write a lot about history, about past events, the lessons that |
| 1:14.7 | we extract from them into the future. So it's nothing new. It's nothing profound. It is profound |
| 1:19.8 | in the sense that I believe all of the stuff that we try to talk about from history. I did a 9-11 |
| 1:25.2 | retrospective a few weeks ago. and I've done an extraordinary amount of |
| 1:29.7 | work over the years from the financial crisis. I believe the one year mark of the COVID collapse, |
| 1:36.6 | we dug into some of those things. You know, there is this kind of personality defect I have of |
| 1:42.2 | being hyper-nostalgic, both around good and bad events. |
| 1:45.7 | But that's just how I'm wired, and that's not really ever going to change. |
| 1:51.1 | But then I also believe that there's an incredible amount of utility that we get as investors |
| 1:56.5 | from understanding things from the past. |
| 1:59.2 | And there's an incredible danger from not doing so, |
| 2:01.6 | that there's at least a context and a kind of package of information |
| 2:09.0 | that's available from past events that can help inform the way we view things |
... |
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