What is Rough and Troubling?
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 July 2021
⏱️ 21 minutes
🧾️ Download transcript
Summary
I have been thinking a lot about the stock market lately, but not for the reasons most people think about it. The most common thing people wonder about the stock market is something like this: “Is the market about to go up, or down?” I think long-time readers of the Dividend Cafe know how I feel about that question (“long-time” could mean the last two weeks in this case).
I am always and forever agnostic about short-term moves in the broad stock market, not merely around anyone’s (including my own) ability to forecast such, but also around the relevance of it to one’s actual financial picture.
But I hear things said about the stock market sometimes that simply concern me. I am going to address a lot of those things this week and look at some basic historical facts of the market and the environment in which we find ourselves. My goal will be to look at what does not represent a “rough” or “troubling” market environment, and what does.
And in so doing, I hope we can find some takeaways about portfolio construction that speak to a present application that you will find useful.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.4 | Well, hello and welcome to another week of the Dividend Cafe. |
| 0:17.3 | Those of you listening on the podcast, you don't care where I'm sitting. And those of you watching on the video, well, actually, you you don't care where I'm sitting. |
| 0:22.1 | And those of you watch you on the video, well, actually, you probably don't care what I'm sitting either, but at least you can see where I'm sitting. |
| 0:27.4 | I am back in the Newport Beach studio, our big and beautiful studio here in our offices in Newport. |
| 0:34.0 | I landed in the middle of the night at LAX. |
| 0:37.2 | I've been out in New York for most of the summer so |
| 0:39.6 | far, primarily in the New York office and then some time out at our house with the family and the |
| 0:47.7 | Hamptons. And so kind of a lot back and forth. But now I'm out here in California for a few weeks. |
| 0:52.9 | And it's good to be not only back with our team |
| 0:55.0 | here in California, but also back in this studio, which is such a lovely, comfortable place to |
| 1:00.1 | record. |
| 1:01.0 | I wrote the Dividendon Cafe very early this morning after last night's flight, and I do think |
| 1:07.6 | I tapped into something that's very important. |
| 1:10.4 | I'll have to reread the written |
| 1:11.5 | myself later to see if I like it or not. But here's the kind of topic I want to go through |
| 1:17.9 | today. And I've addressed this topic in other ways in sort of recent dividend cafes, but I think |
| 1:23.2 | this is kind of a different angle on a topic that's very important. I had maybe the third person this |
| 1:29.0 | week. So when I refer to people coming and asking me questions or saying something, you know, |
| 1:35.4 | there are times where it could literally be hundreds of people. And so if I make it sound like |
| 1:39.5 | it's this huge onslaught of interest, I'm being literal. And other times I might say, oh, I'm having people |
| 1:45.0 | bring something up and it might be one, two or three people. And so I'm probably overstating it. |
... |
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