First Things and Humility
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 29 May 2020
⏱️ 36 minutes
🔗️ Recording | Apple Podcasts | RSS
🧾️ Download transcript
Summary
I am constantly challenging myself to get my applications of “first things” right in the investment world, but my principles themselves are not constantly changing. I say that with pride. The challenge that exists for the investment professional who has done the work of developing operative principles is to constantly evaluate their application of said principles, to alter, change, adjust, or modify as needed. And here is the other piece to that: To thoughtfully consider what it would mean to their client’s capital if they were wrong. Investing client funds as if one can not be wrong in investment application/execution/implementation is the height of arrogance. The humility to constantly check one’s work and one’s strategic thinking is a money-saving character trait. Sometimes it gets forced upon you in my business.
So this week’s Dividend Cafe focuses on many first principles in investing, and many beliefs we have about executing on our principles. But it also hopefully reflects the humility that is needed in risk management.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:12.4 | Hello and welcome to this week's Dividend Cafe podcast and some of you watching on video. |
| 0:20.1 | This is David Bonson. I'm the managing partner and the |
| 0:23.2 | chief investment officer of the Bonson group, and we're bringing you our weekly Dividend |
| 0:26.8 | Cafe commentary. And I'm going to do my very best to cover a lot of topics. Because I'm back |
| 0:32.7 | in the studio in our California office, I feel less time constrained. I can go on and on and not worry about the Zoom cutting out or the battery dying |
| 0:42.5 | or my son having to go do schoolwork or something. |
| 0:46.0 | Now we have like our whole, you know, professional operation back and I can just ramble on. |
| 0:51.7 | But no, we usually keep these things, you know, in a reasonable amount of time, although |
| 0:56.1 | as those who read the full Diven Cafe at our website, we'll see it's a pretty long one. |
| 1:05.1 | There's a lot of topics we cover, and I'm trying to do more of that. The feedback, by the way, |
| 1:09.5 | was 100%. When I asked a few weeks ago, |
| 1:13.6 | people preferred the longer version of Dividend Cafe or the shorter. And we got, I don't know, |
| 1:17.4 | 50 responses, all 50 of them saying, like the longer. And my little theory is that I waited until |
| 1:23.2 | the end of Dividendin Cafe to ask for feedback. And so the only people who were reading the |
| 1:28.2 | request were people that like the longer feedback. And so it's kind of a self-filtering response. |
| 1:33.8 | But no, the reason that I want the weekly to be a little meaty or a little longer is because |
| 1:40.2 | it's intended to get into something more than daily market movement or weekly market movement. |
| 1:45.7 | I mean, I'll talk, I think, in a moment about what happened here in the markets this week. |
| 1:50.5 | But I'm back. |
| 1:51.8 | Like as we're sitting here right now, it's 9 o'clock in the morning Pacific time on a Friday and I'm recording. |
| 1:56.7 | And so the market is not even halfway done through its Friday trading day. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.