One Big Week and It's Not Different
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 10 December 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
As I type on Friday morning well before the market will open for the day, the Dow is up ~1,200 points on the week, basically right back to where it was the day before the Omicron news and market sell-off, and the futures are pointing upwards for today as well (of course, anything can happen on that front).
A week ago, I devoted the Dividend Cafe to discussing why I felt the Omicron story was a bad joke of a market mover, and we walked through a little COVID Market history. But I didn’t end on a sanguine note – I reminded you that there are vulnerabilities in the markets and that chief among them was the anti-fragilities created by excessive monetary interventions, and of course, basic valuation concerns where some euphoria may be overflowing.
Today we’ll leave Omicron in the rearview mirror where it belongs and where the media has conveniently left it just 10 days or so after dramatically different assertions. But we’ll dig deeper into a couple of things that warrant our understanding – an understanding that is not the same as concern or worry.
Come on 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. |
| 0:12.5 | Hello and welcome to this week's Dividend Cafe. My name is David Bonson. I am the chief investment officer here at the Bonson Group, and I am excited to be sitting in my New York studio. |
| 0:24.6 | There's been a fair amount of travel. I think, where was that last week? I think I was in San Francisco. I've been in Palm Beach. I've been in Grand Rapids. |
| 0:32.6 | I've been back in Newport Beach over Thanksgiving week and the week after. |
| 0:39.7 | So, you know, kind of a lot going on last couple weeks. And if you're watching the video, you may have seen me in a handful of different spots. |
| 0:45.6 | But one thing that has continued is a pretty vigorous inquiry into this notion about what risks are real and what risks are exaggerated in the |
| 0:57.8 | markets right now. So I really enjoyed last week's Dividing Cafe. I thought it was a kind of helpful |
| 1:02.9 | 18 to 24 month history to go back over the 2020 and 2021 time period around various ebbs and flows of the coronavirus and what that's |
| 1:14.5 | meant with markets. And at the time we were dealing with last week, this highly volatile week, |
| 1:20.6 | coming off of a 900 point down day the day after Thanksgiving as news of this Omicron variant got out. And so I had a lot to say about |
| 1:31.2 | that last week. And then I had a little bit to say on what was ironic to me in that the certain |
| 1:37.7 | risks that I thought were being ignored while other risks were being really overly played into it. |
| 1:45.5 | Now, here we are. |
| 1:46.4 | As I'm recording, the market's up about 1,250 points on the week. |
| 1:52.1 | It is now made back the entirety of that week of volatility from the variant. |
| 1:58.9 | And I've written in D.C. today, every day this week, and we've discussed at length, |
| 2:04.1 | especially last Friday's Dividet Cafe, why I didn't think that the COVID variant news was much of a |
| 2:11.4 | market story. And really, if I'm being fully candid, because I don't ever want to hold back |
| 2:15.7 | for people that listen to or watch or read the Dividan Cafe. And most importantly, I don't want to hold back for people that listen to or watch |
| 2:17.8 | or read the Diven Cafe. And most importantly, I don't want to hold back what I say to clients. |
| 2:24.4 | It wasn't that I thought I was overdone. I thought that it being done at all was misguided, |
| 2:29.9 | that there was just simply no market story there at all, none. |
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