A big yield is meaningless if the price you pay is too high.
Core idea
High dividend yields alone do not guarantee good investments; if you overpay for the stock, poor total returns and potential capital losses can easily erase the income advantage.
Practical application
Apply this by checking valuation and payout safety, not just yield; buy solid businesses at reasonable prices so income, growth, and risk all work in your favor.
Why it matters
The quote reveals that dividends are only as good as the price and safety behind them, spotlighting valuation discipline as the true driver of sustainable income and total returns.



















