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Hi, and welcome to the Longview. I'm Dan Lefkowitz, strategist for Morningstar Indexes.

And I'm Christine Ben's Director of Personalkowitz, strategist for Morningstar indexes.

And I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.

On today's podcast, we'll chat with Daniel Paris about his new book, The Ownership Dividend,

the coming paradigm shift in the U.S. stock market. Daniel oversees dividend-focused portfolios for Federated Hermes and has written several other books about investing, as well as a study of the former Soviet Union.

Daniel began his investment career in the late 90s as a stock analyst at Argus Research.

Daniel, thanks so much for joining us on The Longview.

My pleasure. Thank you for having me.

Absolutely. Well, why not to start with your background because you have a bit of an unusual background for a professional investor.

You're a former academic and your focus was the history of the Soviet Union.

So maybe you could talk a little bit about your career journey and how you ended up as a portfolio manager.

Yeah, it's a little bit better in the telling than perhaps it was in the doing. It was kind of a hard transition. I don't know that I would recommend it to everyone. One project I have maybe further down the road is to write up how I went from being a basically a Sovietologist to a fund manager. But the common thread that runs through it, really there are two threads. One is being a historian and understanding

when you're trying to figure out current events, how we got here, and what type of implication

that has for where we might be going. And that applies equally to dealing with Russia as it does

with investments. And the second one is communication, writing and spoken communication.

They are at a premium in the academy, or at least they're supposed to be. And they're most

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