We never learn

Happy Sunday. There is still no new dividend news. If anything, it has been interesting being a spectator of world affairs. One piece of news caught my eye.  I chuckled when I saw President Trump wants to review the Dodd-Frank Act (Dodd-Frank). The Dodd-Frank Act was enacted in response to the 2008 financial crisis and regulates American banks. Apparently, Trump has signed an executive order (he likes those) to scale back the provisions of the act. I am not an expert on the actual act but it looks like politicians never learn.  It seems we have a financial crisis, knee-jerk reaction in form of regulation, regulations repealed, the greedy bankers get stuck in again and the next crisis is not too far away. The cycle repeats itself over and over again. Obviously, the severity of each crisis varies but you get the idea.

Luckily, we expect (and know) there will be crises in the future. We just don’t kid ourselves that we know exactly when each crisis will occur. We are spectators of but not participants in the drama. We continue to focus on things we can measure like dividends.

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