Today's Post - https://bahnsen.co/4bzTmf0

David Bahnsen reviews recent market weakness and volatility and asks whether the secular bull market remains structurally intact, arguing the exact start date (2009, 2019, or late 2022) is ultimately semantic. He says bull markets are driven by corporate profits and sentiment rooted in economic reality, and that long-term history trends upward despite periodic recessions, geopolitical shocks, and bear markets. To assess sustainability, he focuses on three factors: labor markets, financial conditions, and corporate profits. He describes “purgatory” data—benign jobless claims but weaker hiring intentions and openings; tightening but not extreme credit conditions; and strong expected profit growth that is also vulnerable to disappointment amid high valuations. He concludes portfolio positioning matters more than predictions, emphasizing dividend growth investing as a defensive approach for both accumulators and retirees.

00:00 Bull Market Check-In

01:30 When Did It Start

04:34 Why Definitions Don’t Matter

05:04 What Ends Bull Markets

10:07 Labor Market Purgatory

12:06 Tightening Financial Conditions

13:35 Corporate Profits Outlook

14:59 Portfolio Takeaways

15:36 Why Dividend Growth Wins

17:53 Final Thoughts and Sign-Off

Links mentioned in this episode:

TheBahnsenGroup.com