Key Themes: Dividends Have Beat Value Over 1, 3, 5 and 10 Years.
- Value Stocks: Why are they not working?
- Low Yield and Rates
- New Technology Destroying “Old Moats”
- Book Value not so Cheap
- End of “Commodity Super Cycle”
What to do? Selecting stocks for Quality Income can help avoid Value Traps and complements Growth.