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I don't think that is true. Look at the dividend yield of some of the strongest companies these days. For example, Bank of America is paying around 8.6% in dividends. They said they didn't need any bailout money, thank you very much, but were asked to take it anyway just so the other guys wouldn't be embarassed! Now why would the value of their stock be "fairly priced" with that kind of income generation? Especially considering they just bought Wachovia, their future income stream will be even higher than when they were just paying a dividend yield about 1/3 of that a year ago!
Wait... when did Bank of America buy Wachovia? I work for Bank of America and I was never told of this!!!!!
Bank of America bought Merrill Lynch. Wachovia was bought by Wells Fargo.
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The early bird gets the worm, but the second mouse gets the cheese. ~Jon Hammond
