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

Hello and welcome to the Friday Dividend Cafe. I am your host, David Bonson. I am the chief investment officer of the Bonson Group. And as the

chief investment officer, I have a lot to say about investment-related topics like this one. Today,

we are talking about index funds, indexing. How has indexing changed over the years? What does it matter? What does it mean

for our clients and the way we invest money? What does it mean for you? For people who actually

own index funds, for people who don't own index funds. It's just a very comprehensive

address of a subject that I think is extremely important to the overall

world of investing.

We're going to dive into it a bit.

This is a Dividing Cafe that I kind of wrote over the last couple of days that I thought

was going to be a very short one and ended up being much longer.

But there is a lot to dive into.

You know, the first thing I kind of want to say is that I'm not about to go into a big

screed on why I do not favor index investing as our approach. It is very true that I do not favor index investing.

But this is not a let me talk my book session. Everything I do is sort of us talking our book.

And that's a little bit different than the expression normally means.

It can often mean someone being sort of annoying and pushing something they have to sell.

But what I mean by everything I do is talking in our book is that I'm always going to be advocating for the things I believe.

And what we do reflects what we believe.

So if I didn't believe in what I was doing, there would be something wrong with me ethically.

And if I do believe in what we're doing, then I guess it stands to reason I should talk

about it every now and then.

...