Never Forget
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 10 September 2021
⏱️ 17 minutes
🧾️ Download transcript
Summary
I am typing this week’s Dividend Cafe from 30,000 feet very late at night on Thursday night/Friday morning, after spending four and a half hours on the plane, on the runway, alongside 100+ other planes that were unable to take off as airspace was closed for Kamala Harris' visit to the LA area (campaigning with Gavin Newsom against the recall). My wife and I will land in Nashville in the middle of the night, and we will forget this experience soon (I hope). Anyone who travels a lot has had bad experiences. I travel 50x a year and have been through everything, but as a percentage of the times I fly, I have had it easy over the last 25 years. It’s never fun, but it happens.
But twenty years ago Joleen and I were also flying together, this time departing LAX for a Tahitian honeymoon. As I mentioned the other day Joleen and I celebrated twenty years of marriage this week. On September 10, 2001, we left LAX on a redeye with a planned landing in Tahiti in the early morning. One hour before we landed the most horrific act in American history took place. It is that event that is the subject of today’s Dividend Cafe.
Sure, there are some personal reflections and musings. But there really is a market lesson in all of this, and I hope you will find this to be meaty enough for your normal Dividend Cafe longings. Truth be told, the rather basic message I have to share for investors on this 20th anniversary of 9/11 is more significant in practical terms than any commentary I have ever written about monetary policy or capital allocation.
I will forget the wait of today, but I will never forget 9/11. Let’s jump in.
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. |
| 0:12.5 | Well, hello and welcome to a, I think, kind of special edition here at the Dividend Cafe. |
| 0:18.2 | It's definitely going to be a little bit different than normal. |
| 0:21.6 | More or less, I just want to kind of give the talk that mirrors what I wrote about in |
| 0:26.8 | Dividendon Cafe this week over at Dividend Cafe.com. |
| 0:30.2 | The events of 9-11, of course, have inspired this week's Dividing Cafe. |
| 0:40.8 | And basically for the reasons that should be obvious, that we're looking at the 20 year anniversary of this event. |
| 0:46.5 | And not only do I personally, and I think just from those of us who have strong feelings about the events of that weekend, there's a lot to be said there. |
| 0:58.1 | But to the extent that Dividy Cafe is obviously a very specific investment commentary, I think there are just profound lessons to be extracted from all of this. |
| 1:10.0 | And so I want to pull all that together for you. |
| 1:13.1 | When I wrote Diven Cafe last night, I was on the airplane flying from Los Angeles to Nashville, |
| 1:19.4 | where I'm sitting right now in my hotel room, getting ready for a day of meetings and a speaking |
| 1:24.5 | event and some other things. |
| 1:26.0 | And the flight in Los Angeles was delayed about four and a half hours and some other things. And the flight in Los Angeles was delayed |
| 1:28.9 | about four and a half hours just on the ground. We found out well into the process that Vice |
| 1:34.3 | President Kamala Harris, who had been visiting L.A. was going to be leaving and that more or less |
| 1:39.1 | for like a hundred mile radius, all the airspace had been shut down. And so there was something in the |
| 1:44.9 | range of 110 planes that were off of their gates and not able to leave. And so, you know, |
| 1:51.7 | it all kind of worked out. My wife and I didn't get to our hotel room to three o'clock in the |
| 1:56.6 | morning. And so, you know, it was obviously one of those traveling conveniences. I think a lot of |
| 2:03.6 | people have experienced. I'm blessed because I travel a lot. And I haven't had too many of these. |
| 2:08.7 | I've had, I've had some various delays and weather things and stuff. It happens. I've become real |
... |
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