Tuesday - November 18, 2025
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 570 Ratings
🗓️ 18 November 2025
⏱️ 7 minutes
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Summary
Market Decline and Economic Data Updates - November 18, 2023
In this episode of Dividend Cafe, Brian Szytel reports from Newport Beach, California, on a market downturn with the DOW, S&P, and Nasdaq all experiencing declines. He discusses the ongoing shift from growth to value stocks and highlights the significant market valuations of some major companies. Despite poor economic data reporting due to government delays, there is a noted cooling in the labor market and mixed signals in housing market confidence. Fed officials continue to focus on inflation concerns, reducing the likelihood of a rate cut in December. Brian also explains valuation metrics like revenue multiples and PE ratios to help understand market valuations.
00:00 Introduction and Market Overview
00:43 High Valuation Concerns
01:46 Economic Data and Labor Market
02:43 Home Builder Confidence and Fed Updates
03:41 Understanding Financial Terminology
05:08 Conclusion and Sign Off-
Links mentioned in this episode: DividendCafe.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. |
| 0:10.0 | Welcome to Dividend Cafe. This is Tuesday, November the 18th. Brian Saitel with you from our Newport Beach, California office here in beautiful |
| 0:22.3 | weather and beautiful sunny Newport Beach, California. A bit of another down day. This is actually |
| 0:26.7 | the fourth down day in a row, and the Dow was down 498 points on the day. S&P was down 8 tenths of a |
| 0:34.7 | percent. NASDAQ was down 1.2%. So there was again some further rotation from growth to value, the continued sell-off |
| 0:43.1 | in some of those what we've called shinier objects, speculative high-valuation names like |
| 0:48.4 | AI and some of the others have sold off more. |
| 0:51.1 | And so you do have big earnings coming out tomorrow. But in the meantime, |
| 0:55.7 | when you have one company that's literally trading at a market cap that is the size of the entire |
| 1:01.4 | real estate, the entire materials, the entire utilities, and the entire energy sector of the |
| 1:07.9 | S&P 500 combined. So think about that. One company is bigger than all of those sectors |
| 1:12.8 | combined. And that one company is worth about four and a half percent of the index net income, |
| 1:19.5 | but is trading at 9 percent of its market cap. That just means it's more valued. It's higher |
| 1:24.4 | valued than everything else. And that is coming home to roost here. Some of that high valuation is starting to be peeled out of the market. And so more of the defensive names. You've started to see the Dow kind of catch up to the SMP 500 on the year, and we still have six weeks to go. And obviously, some of the value and dividend names have been performing well here the last couple of days compared to everything else. |
| 1:45.3 | That's what's ongoing here in this process. We'll see how long that plays out. |
| 1:49.4 | But in the meantime, from an economic side, the day didn't have a lot out. Remember, the government has reopened, but there's still so much data that was delayed for months and then is still not coming out here. |
| 2:00.6 | So all of my reports on the economic data the last couple for months and then is still not coming out here. So all of my reports |
| 2:02.1 | on the economic data the last couple of months really have been a little bit wonky because |
| 2:06.6 | of that reason in today's included. So we got a factory orders number from August. So I think |
| 2:11.8 | it's not even worth me reporting about it at all. I was up a bit, which is great. The more recent |
| 2:16.4 | data that we've gotten is a piecemeal |
| 2:19.0 | employment report that we get out of ADP. It's a weekly, rolling weekly average of employment. |
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