What Me Worry?
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 23 April 2021
⏱️ 25 minutes
🧾️ Download transcript
Summary
This week’s Dividend Cafe took a funny twist over the last 24 hours.
First, I ended up flying back to California from New York late Thursday night for a Friday matter that came up (I was supposed to fly to California on Sunday). This substantially altered my reading and writing plans for this commentary, along with work issues. On Thursday the market had a little reaction to the shocking – shocking – news that the Biden administration was looking to raise capital gain taxes on high-income brackets. I say “shocking” because it had been, well, you know, on their campaign website all of last year, and discussed and mentioned 37 times since his inauguration. And because nothing in the announcement came with Bernie Sanders replacing Joe Manchin in West Virginia or Elizabeth Warren replacing Kyrsten Sinema in Arizona.
And by the way, as of press time Friday morning, the market is down a whopping ~150 points on the week – a rounding error – after a few up days and down days mostly offset each other this week.
Still, though, the cap gain tax issue does matter, so I wanted to address it this week along with a few other things that seem to be a source of worry right now for many investors.
But you can’t spell “investor” without “t” and I found that out the hard way when I arrived at JFK’s Admirals Club yesterday and the “t” button on my keyboard was not working. I had a DC Today to finish, and ambitious plans for 5+ hours of work on a cross-country flight. Well, I did all I could, but just so you know, a lot of words in the English language have “t” in them – a lot. And doing a “Ctrl-C” and “Ctrl-V” for all your T’s is enough to make someone want to ask for the bartender (I don’t drink, so had to settle for my typing productivity being, well, diminished).
But the use of an iPad Bluetooth keyboard, a munted attempt with the munted keyboard, my desktop at my California office, and a brand new Surface Pro laptop I had overnight shipped the second I discovered the trouble have all coalesced together to make this Dividend Cafe possible. And to think my dad wrote 500-page books on a typewriter!!!
Jump on into the Dividend Cafe!
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. |
| 0:12.8 | Hello and welcome to the Dividend Cafe podcast and video. I am in the California studio because I got back in the middle of the night from New York. |
| 0:23.6 | And I'm going to start off my comments today with a little explanation as to how I ended up into |
| 0:29.8 | this topic and the direction I'm going to go with what I want to talk to you all about today. |
| 0:34.5 | I had intended kind of interesting, I had about four or five different |
| 0:39.6 | topics. I was on a weave together. I had a number of white papers I'd read this week and there |
| 0:44.2 | was a research project I'd done. And I thought I had kind of all Friday morning as I normally do |
| 0:49.9 | in New York City to wrap all this up. And then something came up where I needed to be in California here today. |
| 0:56.8 | And so I ended up getting the last flight out last night from JFK and getting back in |
| 1:01.8 | the middle of the night, like I said. |
| 1:03.4 | Well, that's fine in and of itself because I can get a lot of work done, both reading |
| 1:06.8 | and writing on an airplane. |
| 1:09.1 | But what kind of screwed everything up is, first of all, topically, the market, which had |
| 1:14.6 | been up 300 points on Wednesday and was kind of flattish, Thursday, all of a sudden |
| 1:21.7 | dropped in about 30 minutes yesterday, 300 points, which really, quite honestly, is not |
| 1:26.7 | that big of a deal at all. |
| 1:28.6 | But the event-driven nature of it around the Biden administration announcing a capital |
| 1:34.0 | gain tax increase, I felt like, okay, that's something I'd kind of like to address in Diven Cafe. |
| 1:40.1 | And so it caused me to sort of rethink what I was going to do with some of the other material. |
| 1:44.8 | And then my scheduling and timing's all changed because of our, you know, press schedule and me flying and when I needed to write and all the things. |
| 1:54.5 | And then I, and for those you read DC today, you may have heard about this on Thursday, but I all of a sudden got to |
| 2:01.7 | Admiral's Club on Thursday late afternoon, and my T button on my keyboard was just completely, |
... |
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