The information and opinions on this site must not be considered investment advice. The information is intended to be for educational purposes. I taught this material for 32 years. I'm an educator: I am not an investment advisor…never was, never would be. No particular security or investment product is recommended or has ever been recommended. Opinions can change without notice. Opinions offered here can never be a substitution for independent analysis and due diligence. This site may contain forward-looking statements. Your guess as the future value of any security is as good as my guess, or that of a broker. Forecasting is dangerous enterprise. There are risks involved with investing. As Peter L. Bernstein says in Against the Gods, “Investors must expect to lose occasionally on the risk they take. Any other assumption would be foolish.” 284 In The Future for Investors, Jeremy Siegel says: “No strategy can guarantee superior performance”. In The Black Swan, Nissim Taleb says “We cannot predict.”. It is virtually certain there will be periods of time when dividend investing will underperform the market.