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Speaker 1: When you're ready to ride Metro, we want you to

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Speaker 1: know we're ready for you. Here are just a few

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Speaker 1: of the people at Metro to tell you how we're

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Speaker 1: doing our part to keep riders safe. We're cleaning like

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Speaker 1: Neville before the Great You're a found hass out of

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Speaker 1: suns of statist over the Metro. No mask, no Metro

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Speaker 1: need one. We have a few extras at Metro. We're

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Speaker 1: doing our part to keep the DC area moving. Find

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Speaker 1: out more at Well not a dot com slash doing

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Speaker 1: our part. Mason Moser is a senior analyst for The

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Speaker 1: Motley Fool, and I like this line. He finds stocks

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Speaker 1: that make money and tells the world about them. That's

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Speaker 1: a good one right there. I appreciate it, and I

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Speaker 1: appreciate Jason Moser from the Motley Fool joining us now. Jason,

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Speaker 1: how are you, sir? Doing well? Good? It's always fun

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Speaker 1: to talk that this would be a stupid way to invest.

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Speaker 1: I realized, and you probably don't run in anybody in

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Speaker 1: the situation. But if he if a person said I'm

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Speaker 1: going to invest in one stock, I'm just gonna put

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Speaker 1: my money in one stock long horizon. I'm not retiring

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Speaker 1: for decades. What should I put my money in? Wow?

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Speaker 1: Just one stock? I mean, we would never really recommend that.

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Speaker 1: So I can give you one vehicle though one um

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Speaker 1: if you want to invest in in one asset, you

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Speaker 1: can invest in the SMP Index Fund and e t

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Speaker 1: F that represents the entire SMP five index fund. That's

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Speaker 1: essentially getting exposure to all five hundred companies in the

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Speaker 1: index in the form of one uh so so called share.

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Speaker 1: So you could buy shares of that SNT index fund

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Speaker 1: really throughout the rest of your life and be investing

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Speaker 1: in the broader market. That would probably be the easiest

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Speaker 1: way to do that. Does it make you want to

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Speaker 1: drive your car into a bridge when you hear TV

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Speaker 1: and radio people talking about the Dow endlessly? Uh? You Well,

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Speaker 1: I don't know that I want to take it that far,

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Speaker 1: but I think you raised a good point in that

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Speaker 1: Historically the Dow has been used as the benchmark, but

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Speaker 1: as times have changed, certainly it's a little bit less

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Speaker 1: uh indicative of our overall economy, at least at least

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Speaker 1: as it pertains to the S and P five hundred.

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Speaker 1: The SMP five hundreds tipped we the benchmark we use

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Speaker 1: when we measure the investments that we make because it's

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Speaker 1: such a much better cross section of the overall economy. Today,

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Speaker 1: the Dow is very limited, only thirty companies in that

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Speaker 1: index and how about an hour how about hourly updates

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Speaker 1: on that? Even the Washington posted this past weekend had

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Speaker 1: a do away with the daily hourly Dow reports. I mean,

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Speaker 1: what what is that? Well? Those are those are news

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Speaker 1: entities that I think are just trying to fill time

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Speaker 1: in order to help their advertisement businesses. Uh flourished. But yeah,

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Speaker 1: we certainly don't invest that way. We we encourage our

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Speaker 1: investors here are members of subscribers to focus on taking

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Speaker 1: those longer time arises three to five years, even longer

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Speaker 1: perhaps um and when you can take that approach patients,

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Speaker 1: is really one of our biggest advantages. Time is our

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Speaker 1: biggest friend when it comes to investing. So yet, don't

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Speaker 1: pay attention to those day to day movements stops go

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Speaker 1: up and down. Focus more on the business and as

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Speaker 1: long as the business is performing well. Uh that that

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Speaker 1: should help you sleep at night. Somebody help me remember

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Speaker 1: to get back to index funds in a moment or two.

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Speaker 1: But now seems like a perfect chance to ask the

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Speaker 1: following Jason Um, what do you think of quarterly or

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Speaker 1: or worse, monthly reports that companies have to put out

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Speaker 1: and and the way that that turned, in my mind

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Speaker 1: stocks into mostly a speculation game as opposed to investing

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Speaker 1: in solid and enforcing all companies to think short term

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Speaker 1: more importantly, Yeah, I mean, I think you make those

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Speaker 1: a that's a great observation, and that's something that we

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Speaker 1: talked about a lot here at the fool is UH.

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Speaker 1: You know, these companies, they they're required to file paperwork

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Speaker 1: every quarter on the state of the business. They follow

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Speaker 1: that ten Q report, which tells us what's going on

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Speaker 1: in the business over that over that three month stretch, UH,

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Speaker 1: and then most companies will then release a press release

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Speaker 1: UH and also have an earnings call and and a

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Speaker 1: lot of times you're right that that that sort of

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Speaker 1: short timeline forces these management teams to think a little

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Speaker 1: bit more along those lines as opposed to focusing on

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Speaker 1: making decisions that are are better for the business a

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Speaker 1: little bit more long term. Is I think a really

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Speaker 1: good example recently, Ron Shake, the guy who founded uh

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Speaker 1: Panera Bread and he was the CEO of Panera for

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Speaker 1: quite some time and eventually Panero was made an offer

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Speaker 1: to get bought out. They were bought out by a

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Speaker 1: private private entity, so they're no longer public. But ron

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Speaker 1: Shake listed that as one of the biggest challenges was

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Speaker 1: having to deal with that quarter in and quarter out

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Speaker 1: madness of just meeting these arbitrary Wall Street benchmarks that

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Speaker 1: sort of hamstrung them a little bit in in making

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Speaker 1: better long term focused decisions. So yeah, I think companies

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Speaker 1: generally speaking would rather be able to just go about

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Speaker 1: their business and maybe report every year. But some companies

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Speaker 1: definitely uh, they'll release like a ten Q or something,

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Speaker 1: but then they won't really have a call in order

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Speaker 1: to go further into the state of the business, Berkshire

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Speaker 1: Hathaway being a very good example there. Of course, Warren

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Speaker 1: Buffett is very much in line with that long term

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Speaker 1: saky but there's no question about it when you see

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Speaker 1: these companies that are reporting every quarter. Uh, Wall Street

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Speaker 1: lays down these arbitrary benchmarks that make it difficult for

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Speaker 1: these business is to make those long term well, and

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Speaker 1: then you get stupid reporting. You get the same sort

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Speaker 1: of stupid reporting from the same stupid people that are

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Speaker 1: giving you hourly Dow updates telling you boy, Apple way

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Speaker 1: off this quarter with their projections of and being in

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Speaker 1: people's minds. They're hearing Apples struggling when they may not

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Speaker 1: be at all. That's exactly right, And we tell everybody

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Speaker 1: you've got to look past the headlines. Um, I mean,

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Speaker 1: whenever we're doing our research into these companies and their

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Speaker 1: quarterly reports, I mean, we're not going to these articles

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Speaker 1: that are written on financial websites. We're going to the

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Speaker 1: actual source, the SEC documents that the company's published, and

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Speaker 1: then we're able to make our own assumptions and decisions

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Speaker 1: based on what we're reading there. But typically, yeah, those

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Speaker 1: those those financial media sites, and I mean we we

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Speaker 1: obviously have a financial media site here at full dot com.

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Speaker 1: Uh oftentimes will throw a headline up there that is

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Speaker 1: not necessarily um, a good indicator of the state of

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Speaker 1: the business. And really kind of in this Internet age,

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Speaker 1: clicks or what dictates a lot of a lot of buns,

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Speaker 1: and so the more clicks, the veteran in what better

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Speaker 1: way to get clicks than those crazy headlines. Boy, it's

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Speaker 1: so true in so many areas these days. We're talking

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Speaker 1: to Jason Moser, the senior analyst for Motley Fool about

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Speaker 1: you know, how to see through the smoke screen and

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Speaker 1: most financial reporting and more. Getting close to the moment

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Speaker 1: where mega investor positive Sean gets to ask one question

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Speaker 1: that he is allowed. So Jason, just quickly, we're talking

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Speaker 1: about index funds. If you could only do one thing,

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Speaker 1: an index fund more or less reflects um, the the

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Speaker 1: the panoply of stocks and companies on the entire index.

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Speaker 1: So that's the ideas. You don't you don't go heavy

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Speaker 1: oil on forim. You just you got a bit of everything. UM.

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Speaker 1: Is it still true that index funds almost uniformly outperform

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Speaker 1: the more specialized ones. How would you describe generally speaking?

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Speaker 1: I think generally speaking, when we talk about funds, because

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Speaker 1: there are a number of different types of funds, there's

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Speaker 1: meanful fund uns, which I think has always been sort

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Speaker 1: of the traditional UM, the traditionally understood UH investment vehicle,

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Speaker 1: and oftentimes index funds. Those exchange traded funds will outperform

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Speaker 1: mutual funds because the management sees are typically lower and

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Speaker 1: the turnover is lower as well, that those funds aren't

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Speaker 1: buying and selling stocks as much as as your traditional

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Speaker 1: mutual funds. But when you talk about an index fund,

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Speaker 1: or you talk about an exchange traded fund, I mean

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Speaker 1: there are exchange traded funds where that fund will actually

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Speaker 1: be based on a particular market like energy or financials

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Speaker 1: or tech um or you can buy the broader type

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Speaker 1: of index funds that is going to focus on something

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Speaker 1: like the entire SMP five hundreds. So it really does

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Speaker 1: depend on on what exactly you're looking to invest in,

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Speaker 1: if you want something to focuses on a particular market

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Speaker 1: versus something that focuses on the market in general. But

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Speaker 1: it would make sense to to think of it this way.

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Speaker 1: If you're going to invest in the in the S

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Speaker 1: and P five index fund, then that fund essentially is

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Speaker 1: going to match the performance of the S and P

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Speaker 1: five hundred over time. You're gonna follow that line, so

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Speaker 1: instead of having to pick individual stocks, you're just getting

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Speaker 1: that whole basket and ultimately, over time it's gonna it's

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Speaker 1: gonna match over over time, have that have that SMP

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Speaker 1: uh performance, which historically means always up, maybe more modestly

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Speaker 1: than speculating on oil or whatever. Just a quick yeah,

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Speaker 1: I mean stretch that graph out there, looks five years.

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Speaker 1: I mean, the trend is clear. The SMP goes up. Now,

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Speaker 1: there's some bumps along the way, but that's why we

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Speaker 1: subscribe to that longer term view, because the facts are

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Speaker 1: the facts, and over the longer term view, that market

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Speaker 1: does go up. I remember when oil was a hundred

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Speaker 1: bucks of barrel. I was heavily into oil stocks and

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Speaker 1: thought I was a genius. That's a real real That's

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Speaker 1: one of those things that's completely out of our control,

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Speaker 1: the price of oil, you know, right right, Jason Moser

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Speaker 1: Motley full on the line positive, Sean, you're penetrating question. Yeah,

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Speaker 1: So I'm looking to up my my dividend exposure in

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Speaker 1: my portfolio. And as I am doing my research specifically,

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Speaker 1: at what point is a dividend high enough to where

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Speaker 1: it should be a warning sign or a red flag?

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Speaker 1: And more generally, how do I tell if a between

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Speaker 1: a dividend trip, Like what's a dividend trap something that

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Speaker 1: that's a good dividend but a bad stock overall? What

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Speaker 1: what should I be looking at for that? Yeah, typically

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Speaker 1: we look at any company that's going to pay you

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Speaker 1: a three percent yield or better as kind of something

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Speaker 1: we're looking for for the longer haul. Um. Oftentimes you

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Speaker 1: will see companies where they're yielding seven eight nine percent.

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Speaker 1: Those higher dividend yields tend to be things like Master

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Speaker 1: Limited partnerships or reach real estate investment trusts, And the

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Speaker 1: reason why they offer that big yield is because perhaps

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Speaker 1: there isn't the same opportunity in the fixed income market,

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Speaker 1: which I think would be very reflective what's going on today. Uh.

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Speaker 1: But when you see those higher dividend yields, I think

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Speaker 1: that you need to approach them with the question of

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Speaker 1: how can they afford to pay this dividend and can

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Speaker 1: they afford to continue paying that level of a dividend

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Speaker 1: over time versus something like a McCormick, You know, a

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Speaker 1: McCormick spice company, where they've been in business forever. They

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Speaker 1: have a presence in virtually every kitchen in the world,

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Speaker 1: it seems like, and they pay an affordable dividend over

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Speaker 1: time that they won't ever have any any trouble. I'm

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Speaker 1: a nerd out on it, just a little bitter sean.

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Speaker 1: There is there is something called the payout ratio, and

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Speaker 1: that essentially is the number the amount and they pay

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Speaker 1: in dividends versus the net income. But they bring in

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Speaker 1: that payout ratio gives us a good indicator as to

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Speaker 1: whether the company can afford that dividend over time pay

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Speaker 1: out ratio is that your term? Is that kind of

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Speaker 1: an industry term that I can kind of look into.

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Speaker 1: That's an industry term that you can certainly look into.

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Speaker 1: I gotta cut off because I feel like we're I

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Speaker 1: think we're getting too far into the weeds, just in

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Speaker 1: Layman's term. So if a company is paying too high dividends,

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Speaker 1: what's going on there? Well, I mean, if they're paying

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Speaker 1: too high of a dividend, it can mean a number

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Speaker 1: of different things. Perhaps they're trying, uh, you know, to

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Speaker 1: to boost that dividend to get shareholders more interested, or

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Speaker 1: perhaps that share prices come down, which is going to

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Speaker 1: make that yield go up. Um. I mean, it could

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Speaker 1: mean any number of different things. But it also oftentimes

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Speaker 1: a higher dividend pertained to some of those markets like

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Speaker 1: master limited partnerships or or even reads. Sometimes energy companies

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Speaker 1: where they tend to offer a higher dividend when times

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Speaker 1: are good, but when times get bad, you know, then

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Speaker 1: they have trouble affording that dividend, and it's reflective the

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Speaker 1: share price there as well. Fair enough, Jason Moser senior

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Speaker 1: analysts for the Motley Fool. He finds stocks to make money,

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Speaker 1: tells the world about them. Jason, it's always informative. Thanks

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Speaker 1: a bunch, Thanks guys, you got it. But there's a

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Speaker 1: perfect example right there. So people like to be in

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Speaker 1: cool stocks, and you know, I feel like a cool

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Speaker 1: guy in a mover. And but McCormick spices, I mean,

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Speaker 1: how boring a company is that clothes Jack delicious yesterday,

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Speaker 1: delicious tomorrow. But he's right. Every damn kitchen in the

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Speaker 1: country has got McCormick spices in it and will for

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Speaker 1: the next fifty years probably. And it's not an exciting stock,

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Speaker 1: but probably a great company. Interesting. Well, I tell you

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Speaker 1: what oil exploration companies I buy those stocks up up.

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Speaker 1: I thought I was a genius riding tide idiot, Look

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Speaker 1: at me picking winners. Yeah, you get to continue to

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Speaker 1: call your stuff and a genius if you get out

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Speaker 1: at the right time on that stuff I name. I

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Speaker 1: kind of did. Yeah, but that was just because when

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Speaker 1: I wanted this guitar out out. Yeah, when you're ready

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Speaker 1: to ride Metro, we want you to know we're ready

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Speaker 1: for you. Here are just a few of the people

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Speaker 1: at Metro to tell you how we're doing our part

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Speaker 1: to keep riders safe. Were cleaning before the Great Clean.

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Speaker 1: You've found hass down a thousand statist no masks, no

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Speaker 1: Metro need one. We have a few extras at Metro.

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Speaker 1: We're doing our part to keep the DC area moving.

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Speaker 1: Find out more at well mata dot com, slash doing

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Speaker 1: our part