Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Hello and welcome to this week's very special Dividendin Cafe podcast and video.

You can see I'm kind of sitting in a slightly different place here in the studio,

and I'm actually not going to go through and do the normal Dividend Cafe podcast content that talks about the topic from the Dividendon Cafe.

This way, you and we are getting the best of both worlds because I'm going to really force

you to go to Dividend to dividend cafe.com to read

the weekly commentary because it isn't on the same subject that we're about to talk about here

in the studio. We're going to use this dividend cafe podcast and video to have the investment

committee come to you and kind of talk about a whole lot of different topics. We have Brian and Dan and myself all in the same room here together. We haven't done this in a little

while and we just got sort of pumped up to do this today. But there is a special Dividendon Cafe

written commentary on the subject of structured credit, except for it isn't really about structured credit.

Fundamentally, what I tried to do in the written commentary this week is really providing a way

I haven't before a deeper explanation as to why exactly the Bonson Group last year in our

Operation Magnify separated out credit instruments from boring bonds,

how we can take two things that are for so much of the world considered to be part of the same

asset class and totally and completely make them distinct from one another.

I believe we're doing it right.

Everyone else is doing it wrong and I make that case in Dividing Cafe today and then unpack a little deeper.

Some of the kind of more fun stuff that exist in the credit asset class, more opportunistic, kind of juicy returns, high yield, all the stuff everybody loves.

And we unpack the risk and reward of structured credit.

So you've got to go to Dividendant Cafe.com for that stuff, but now I want to bring in my partners and fellow members of our investment committee, Deiopranos and Brian Saitel, who you know. Good morning. Hey there. Yeah. So look, we're kind of got different camera arrangement and microphone set up and everything here than we're used to.

But I don't know, it feels to me like we're just back at home. Yeah, this is comfortable. How we roll. It's good to be here. It's been a while. Why has it been so long? Couple months. Kind of busy. Yeah, yeah, I guess so. A couple of things have gone on, I suppose. Yeah. For you guys listening at home, the three of us converse quite frequently.

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