Horror in Israel, History, and Your Portfolio
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 13 October 2023
⏱️ 27 minutes
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Summary
Today's Post - https://bahnsen.co/3ZSi3fd
I am writing this week’s Dividend Cafe from my apartment in New York City, very early on Friday morning, hours before I will leave for an all-day symposium I have attended every year since 2009 (besides the COVID-cancelled years, of course). I mention this only because my philosophy of dealing with markets in the aftermath of exogenous shocks and particularly geopolitical events was heavily influenced by the historical realities taught to me at this very symposium over the years. I do not learn anything new in attending any more; I just immensely benefit from the reinforcement. But this week we have had an event so tragic, so reprehensible, so infuriating, and yet also one that requires me to reinforce myself (perhaps redundantly) the principles and best practices prudent investors must hold dear.
But I also brought up New York City, because it had a terrorist event of its own back shortly after I entered the business, one which also profoundly impacted me. I have talked a lot in the past about the history of it and lessons learned. The 9/11 moment is, all at once, one of the seminal moments in my younger adult life, the very first shocking moment in my investment career, and an event obviously connected directly to New York City.
(You know, come to think of it, I was right here in March of 2020 as well when the COVID matter was becoming an American reality, and wrote about all of that, then, too. There is just a deep association for memorable market moments in my life and career with New York City).
Links mentioned in this episode: TheDCToday.com 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. |
| 0:12.2 | Well, hello and welcome to this week's Dividendin Cafe. It has been quite a week and in a lot of ways ways a very somber one. I don't refer to the market, |
| 0:26.3 | which is actually up and up quite a bit. If you go back to where the bottom was last Friday |
| 0:32.6 | and where I'm speaking right now, we're not at the close of the day in the market yet on Friday. |
| 0:37.0 | So maybe things change before the close. |
| 0:40.1 | But from an intraday Friday of last week to intraday of Friday this week, the Dow is up by 850 points. |
| 0:48.1 | But what I refer to in terms of this time of kind of somberness is obviously the massive attack on Israel by the Hamas |
| 1:00.6 | terrorist organization last Saturday, and that is now created a significant hotspot and |
| 1:09.2 | uncertainty around the Gaza Strip and indeed a significant portion of what |
| 1:14.9 | will happen out of the Middle East. |
| 1:16.5 | And I wrote the written divvy cafe this morning very early from my apartment here |
| 1:24.5 | in the city. |
| 1:25.2 | And I made the comment that it's interesting to me that so many of these things seem to happen. |
| 1:32.7 | You know, I affiliate a lot of the major events over the last 20 plus years, 25-ish years. |
| 1:41.8 | In New York, for me around markets, more recently, the kind of opening salvo of the COVID |
| 1:49.4 | what became this long shutdown and all the things that followed. But being in New York that |
| 1:55.0 | week as markets were utterly collapsing and walking through the city early in the morning, it |
| 1:59.8 | felt like a ghost town and eventually leaving the city of my family and thinking would be gone a week or two and it ended up being a few months and all that stuff. |
| 2:08.2 | But that wasn't a terrorist attack per se. |
| 2:11.5 | I mean, the events of 9-11 are obvious. |
| 2:15.4 | When you talk about market-sensitive events and catalysts to a lot of market uncertainty, |
| 2:20.1 | obviously we know the great financial crisis. The fall of Lehman and these things are all centered |
... |
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