The DC Today - Wednesday, March 29, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 29 March 2023
⏱️ 11 minutes
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Summary
Today's Post - https://bahnsen.co/3JRB2yV
I read an interesting line from an analyst I read daily in my morning research this morning … “if the bulls are to reclaim control of this market, beta likely needs to reassert itself; hasn’t happened yet.” Of course, this sort of begs the question – bulls of what? Well, if one means “the market index,” then they have essentially said, “if those bullish for beta are to get what they want, beta needs to do well.” I think we call that a tautology. “If I am to eat ice cream I like, I will first have to eat ice cream that I like” is not a super profound observation. But I am not picking on this analyst or the comment – I am pointing out the premise hidden in the statement – that a “bull” means the “index” (beta just measures the portion of a return that is really index/market oriented). It highlighted for me how differently we think at TBG – that one can be agnostic about a broad market index (which is neither bullish nor bearish) yet still bullish on an investment strategy that is not remotely connected to beta … Indeed, to that end we work.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:15.1 | Well, hello and welcome to the Wednesday, D.C. today. I am sitting here up at LAX. I'm boarding a plane any moment. |
| 0:24.0 | So we're doing kind of a funky thing. I am actually recording before the market is closed, |
| 0:30.3 | which I just did two days ago and said it was the first time I'd ever done it. Now I'm doing it |
| 0:34.5 | two times in three days. But then I'll get on the plane when |
| 0:38.4 | I'm done recording and we'll update the market closing data, which is only about 40 minutes |
| 0:44.4 | away from hours as I'm sitting here recording. And so the written DC today will come all |
| 0:49.4 | updated and buttoned up and then I'm just sitting here recording without the luxury, knowing exactly how the day closed, which of course doesn't matter in the grand |
| 0:58.5 | scheme of things whatsoever. As I'm recording, the Dow is up over 300 points, S&P is up 1.4%. |
| 1:06.1 | NASDAX's up over 200 points at 1.8. So a big rally day here and what's been a pretty good week and what's been a pretty |
| 1:14.3 | good recovery and what is just kind of confusing a lot of people. |
| 1:21.0 | And yet it does feel that some of the deeper anxieties undergirding the banking system have settled a little bit. |
| 1:30.4 | I don't really want to talk much more about kind of exactly what's happening today. |
| 1:35.7 | I'd like to do even less of that as we go. |
| 1:38.6 | And each day I usually am finding some different inspiration to talk to you about. |
| 1:43.9 | Something came up in my morning research. |
| 1:46.1 | For those of you who are newer to D.C. today, |
| 1:49.6 | or even those of you who are real familiar, |
| 1:51.8 | but maybe just not aware, |
| 1:54.9 | I read an awful lot of research every morning, |
| 1:59.3 | and I tend to be a very early morning guy. And that early |
| 2:03.0 | morning time is where I not only do a lot of the writing that I do, but a significant amount |
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