Dividend stocks don’t equate to bonds

Reaching for yield in a low rate environment has been its traditional, predictably disastrous strategy for investors over the past year. The risk-sellers have been up to their usual antics trying to move people out the risk curve trying to chase more income. Capital losses have been the reward to date, and are likely to continue for some time yet. Please understand dividend paying stocks offer no meaningful capital safety in a cyclical bear market–all stocks drop in concert. Don’t drink the Kool aid. Pass it on.