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  • Rich And Retired? Please Buy Dividend Stocks [View article]
    Adam
    Thank you for good article.
    IMO there is double crime in US tax rules: double taxation of dividends and frequent change of tax rules.
    SDS
    Mar 13 02:32 PM | 5 Likes Like |Link to Comment
  • Why Dividends Matter, Part 3 [View article]
    Geoff,
    Thank you for the part 3. Some notes:

    Fama and French made nothing more than engineering curve fitting with 3 factors known before their paper. The problem that for each time period or country you need to find new coefficients for the fitting. Such ad hoc models have quite low practical value in engineering. Later on 4, 5 factor models appeared. Anybody who plays with MS-Excel knows that almost any curve can be nicely fitted with 5 factors.

    Earnings (E) is the number which depends on accounting rules and agreements, and these rules were (and will be) changed during different time periods. To some extend earnings are the same as (say) blue color. Until we don't have rules and agreements blue color is NOT precisely defined.

    Dividends (D) and dividends growth (DG) are really fundamental (after adjustment to currency changes if they occurred /not in USA/) - they reflect what is really investors get. Inflation can be deducted from DG. The speculative element of return is changes in the yield (Y) or D/Price ratio. Well last 50-60 years speculators play more with P/E than with Y just might be because it is much more easy for CFOs to play with earnings as calculated number. BTW in long run average 1/(P/E) and DGR are almost the same (http://seekingalpha.co...).

    Because nobody would agree to pay top salaries for dividends predictions for (say) KO, PG, INTC analysts prefer predict earnings and future prices. Only a rich society can support such people who do not produce anything useful.....
    <to be continued>

    SDS
    Jan 16 11:57 PM | 5 Likes Like |Link to Comment
  • Dave Van Knapp Positions For 2014: The Best Dividend Growth Stocks Will Pay Out More This Year [View article]
    OFFTOPIC:
    Isn't JPMorgan with tons of violations and deep pockets show us that corruption exist? I'd vote to close their doors and apply criminal charges....
    SDS
    Jan 10 08:46 AM | 5 Likes Like |Link to Comment
  • Linn Energy: Don't Believe The (Negative) Hype [View article]
    Thank you for good article Elliot!
    Do Barron's editors double check numbers before they publish anything about any company?
    SDS
    May 9 10:06 AM | 5 Likes Like |Link to Comment
  • 19 Things I Like About Dividends [View article]
    David,
    Thank you for good article. Being a native contrarian let me point:
    "4. Dividends are always positive"
    Not always - see http://bit.ly/13LUwuL

    "Because dividends are paid quarterly"
    Well, some firms prefer annual or semi-annual (esp UK) div.

    "13. Dividends have a low tax rate"
    Not always, sometimes US taxes have been "against" dividends.

    I also would like to add #20:
    "Dividends are the MAJOR part of total equity returns in developed stock markets"
    Proofs are in
    http://bit.ly/xFpiPl
    and
    http://bit.ly/WAzzQp

    BTW, Can I have a free copy of your 2013 book, please? (I bough few previous editions and doubt that need to spend money on new one).

    Good luck!
    SDS
    Jan 31 11:07 AM | 5 Likes Like |Link to Comment
  • Why I Am Not Worried About The Fiscal Cliff And Dividend Tax Increases [View article]
    Sometimes I think that fiscal cliff is more more than an opportunity to politicians to be more often on TV.
    Dec 18 11:27 AM | 5 Likes Like |Link to Comment
  • The Real 'Better Advice For Seniors' [View article]
    "If you've been a successful dividend-growth investor while you were working, why would you suddenly stop doing that when you retired? "
    Well as far as I understand, in both periods you can be DGi but you will mostly send money to your broker while you are working and your broker will mostly send money to your when you retired.
    Sep 11 04:37 AM | 5 Likes Like |Link to Comment
  • Less Is More In Dividend Growth Investing [View article]
    Larry - thank you for good article. Although I disagree with your approach and hold more than 100 dividend companies, I think many of points in the article are correct and I wish you the best.

    I explained in my SA instablog and several comments already why I prefer wide diversification based on math differences between dividend oriented investing and capital gain oriented investing.

    Let me give couple more arguments :
    1) If you have 10-20% in one stock a black swan is really more dangerous for you to compare with broad diversification portfolio there each stock is 1-2%.
    2) Even with 100+ dividend stocks I don't need to monitor all of them , I just need to check 5-20% of them between semiannual portfolio reviews. Usually an individual investor without HFT capabilities is at the end of information/execution chain, so close monitoring for him/her is worthless. Exceptions are obscure companies.

    Good luck
    SDS

    SDS
    Apr 11 11:49 AM | 5 Likes Like |Link to Comment
  • The Rational Case For Dividend Growth Investing (Part 1) [View article]
    Thanks for excellent interview and DVK for the good book.
    Let me add my 2 cents:
    As far as I know dividend growth (DG) investing was promoted more than decade ago by RoxAnn Klugman in book "The Dividend Growth Investment Strategy" and by Miller Lowell in book "The single best investment". I'd like to point that DG investing is mostly US phenomena because in many countries companies do not have such dividend culture. IMO, dividend growth investors must thanks companies management for their nice dividend policies.

    "Dividends account on average for about 40% of total stock returns, and they are generally unaffected by market swings."
    The forst part is not exactly right. Several studies show that dividends cause about 90% of returns in long run (see http://seekingalpha.co...) . Yes, volatility of dividend payments of DG companies (after positive bias) and companies with flat dividends is about or less of one-tenth of stock prices volatility.

    One additional reason of DG investing popularity: some folks gave up with companies book cooking investigations and became DG investors.

    SDS
    Mar 8 11:20 AM | 5 Likes Like |Link to Comment
  • Proposed Dividend Tax Is As Uninformed As It Is Naive [View article]
    We should deliver investor opinion about dividend (and other double) taxes to politicians. They waste a lot of money they take from our pockets.
    Mar 1 11:50 AM | 5 Likes Like |Link to Comment
  • Dividend Champions For January 2012 [View article]
    Thank you David for update. Happy New Year!
    Dec 31 05:46 PM | 5 Likes Like |Link to Comment
  • Trade In Your Bonds And Gold For Dividend Growth Stocks Instead [View article]
    CHUCK
    Thank you for good article. Although I'm 0% in bonds and 0% in gold now and huge majority of my stocks are dividends paying companies, I'm trying to find arguments against my balance (and so your paper). Let me think..........
    Sincerely
    SDS
    Sep 15 09:03 PM | 5 Likes Like |Link to Comment
  • A Simple Dividend Strategy That Will Get You 4%, Lower Volatility and More Sleep Part 1 [View article]
    Dear Jeff,

    With my dividend growth portfolio I slept so well that didn't awake when you posted your good article 8-). So please accept my thanks a bit late.

    Sincerely
    SDS
    Aug 16 10:58 AM | 5 Likes Like |Link to Comment
  • Low, Medium or High Yield: 16 Dividend Growth Stocks for Every Type of Investor [View article]
    Thanks David for a good CCC study.

    I recently checked SP500 dividend growth rate for 1980-2010 and it is only 4.77%. Of course, it must be lower than CCC because SP500 includes companies that cut dividends. Even if we exclude years with negative dividends changes (2000,2001,2009) we got growth rate 4.86% which is smaller than CCC dividend growth rate.
    It confirms David note about SP500 as benchmark, esp. because SP500 dividend growth rate does NOT depend on non-dividend paying companies.
    Jul 4 09:19 AM | 5 Likes Like |Link to Comment
  • Dividends in Danger? Nokia, CenturyLink and 5 Others Attract Attention [View article]
    Chuck Carnevale: Thank you for your comments.
    Jun 28 05:34 PM | 5 Likes Like |Link to Comment
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