#Market Thoughts 2024# An update on the dividend strategy: Most dividend ETFs are tied to oil and coal. In the short term, neither fundamentals nor market positioning make them the best choice. If you don't mind the hassle, it's better to build your own dividend stock basket, especially when combined with some pro-cyclical ideas—the results might be better. However, dividend ETFs will also perform well, unlike in the past when the market rose while dividends fell, because the signs of a gradually expanding market are becoming more evident. I don't like talking about bull or bear markets in the traditional sense. In a market with fewer retail investors, the intensity of such phenomena will also diminish.