Masters in Business · Wednesday, August 26, 2026
David Bonson highlights that despite the S&P 500's significant gains over the past seven years, dividend growth investing has shown resilience, even outperforming the market in certain periods, such as 2022. He suggests that with the S&P trading at a high multiple, future returns may be constrained, making dividend growth a more probable strategy.
“I think that you had basically the S & P nearly triple in seven years, which is crazy, by the way, crazy to think about.”
“when Dick. Growth was up 5% in 2022 and the S & P was down 18%, And dividend growth did fine in the three years in between, not as much as the Nvidia stuff, but still did fine.”
“It's going to be. Very hard for the S & P to deliver continued 15% returns.”