Growth, Value, and Tom Brady
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 5 February 2021
⏱️ 23 minutes
🔗️ Recording | Apple Podcasts | RSS
🧾️ Download transcript
Summary
Last week, I wrote about investors’ reality (especially professional investors) being a by-product of the era in which they came to be. The intent was to set the table for how much of my investment worldview was formed. I live with a deep fear of excess valuations, and I live with a deep cynicism of the madness of crowds. Both of these things come from years and years of abundant research. But at the foundation of that research was the experience of living through something that provoked such impulses.
I won’t re-hash all of it this week. What I want to do this week is go beyond those two topics (i.e., valuations and crowd madness). We will look at these two things and seek to understand something about both concepts, but more importantly, we will seek to apply what it may mean to the present investing landscape and what it doesn’t mean.
This week’s Dividend Cafe wants to analyze a handful of present investing landscape realities, consider the lessons of history, assess where certain things are clearly different right now, and apply what it ought to prudently mean for real-life investors with real-life goals and real-life emotions, right now.
It is, indeed, our thesis that a rotation is in motion within investment markets. But I believe that means something very different than what many are saying it means. This week’s Dividend Cafe seeks to provide clarity around what is a truly important subject in 2021.
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. |
| 0:12.9 | Hello, welcome to this week's Dividendin Cafe podcast and video. I'm recording from our studio here in the Newport Beach office. And for those of you that |
| 0:23.5 | are on the East Coast or were in the storm this week that I beat as I left New York last week. |
| 0:30.5 | I just want you to know that it's something like 69 degrees and not a cloud in the sky right |
| 0:35.9 | outside my window here in Newport. So there is some kind |
| 0:40.8 | of rationalization in the universe, I suppose, for real estate prices here in Southern California. |
| 0:47.3 | But the reality is, it's been a very interesting week, and I'm not going to talk about much of it. |
| 0:51.7 | That's sort of what DC today is for as we're sitting here recording |
| 0:54.7 | in the middle of the market day on Friday. It looks like it's going to be a pretty strong week |
| 0:59.4 | up in markets, more or less every day this week up and some days up quite a bit, but combining |
| 1:06.5 | together for one of those, you know, a thousand point, uh, week type of deals in response to where |
| 1:12.4 | there was a sell off late last week in market. So we might be in a bit of a trading range. I don't |
| 1:18.0 | have a whole lot of opinions on any that stuff. I just share it with you to kind of set things up |
| 1:22.6 | because I, I ran out of time last week to really go all the way with where I wanted to go. |
| 1:29.2 | And I think that it worked out better. |
| 1:31.2 | Similar to that inflation, deflation discussion we had a few weeks ago, I think it was |
| 1:36.7 | better to have broken it up into two parts. |
| 1:39.3 | And we did the same thing here. |
| 1:40.9 | But what are the two parts I'm talking about right now? |
| 1:43.1 | Well, the historical background |
| 1:45.1 | that I freely admit is somewhat biographical or certainly meant to provide a kind of personal |
| 1:52.2 | context was last week I was making the case that virtually every investment advisor, every portfolio manager, everyone engaged in some form of |
... |
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