Dividend Growth Investor - Update

Good Morning,

I usually do not comment on short-term market moves, but this mornings action probably may warrant some commentary. Notably, trade tarrifs and trade wars will impact economies and earnings. And as a result, share prices.

Ultimately, the thing that matters is that earnings grow over time, which provides the fuel for future dividend growth. Along the way, the intrinsic value of the business grows too. If share prices go down, that's only a good thing if the underlying business is still expected to do well over time. However, if share prices go down because the business earnings power is impaired, then that's not a bargain.

I do have a watchlist of a few "quality" companies I want to buy at a forward P/E below 25. I would love to buy/add to something like Microsoft, ADP, Visa, Moody's, Waste Management, Costco below 25 times forward earnings. But alas, even this dip doesn't make these companies cheap.