Defensive portfolio: consumer goods & dividends instead of AI hype

Created on 2025-11-20, in the middle of the debate about an AI bubble (Reuters, 2025-11-05: 'Don't panic yet' after the crash of the AI ​​high flyers). I want the opposite: brands you buy every day, with 3-6% dividend yields and valuations at ten-year lows. Many of these stocks have been punished in 2025 - Nestlé is cutting 16,000 jobs (Reuters, 2025-10-15), Diageo has lowered its forecast and a new CEO (CNBC, 2025-11-10), Mondelez and Colgate are cutting annual targets. That's exactly the beginning: new bosses, cost programs, dividend continues. Horizon 5+ years, conservative, goal is capital preservation plus 4% distribution - no price fireworks expected, main currency risk CHF/USD/GBP.