The Ultimate Dividend Playbook: Income, Insight and Independence for Today's Investor by Josh Peters

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(Hardcover)

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  • Publisher: Wiley, John & Sons, Incorporated
  • Pub. Date: January 2008
  • ISBN-13: 9780470125120
  • Sales Rank: 171,695
  • 384pp
 
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Synopsis

Many people believe that the key to success in the stock market is buying low and selling high. But how many investors have the time, talent, and luck to earn consistent returns this way? In The Ultimate Dividend Playbook: Income, Insight, and Independence for Today’s Investor, Josh Peters, editor of the monthly Morningstar DividendInvestor newsletter, shows you why you don’t have to try to beat the market and how you can use dividends to capture the income and growth you seek.

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Biography

Josh Peters, CFA, is an equities strategist and editor of the monthly newsletter Morningstar® DividendInvestor. He manages the newsletter's two real-money model portfolios.

Morningstar, Inc., is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 250,000 investment offerings, including stocks, mutual funds, and similar vehicles.?The company has operations in sixteen countries and minority ownership positions in companies based in three other countries. Visit us at www.morningstar.com.

Customer Reviews

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  • Ratings: 2Reviews: 2

Sound strategy, sound book, but beware the subtle dangers.by LOTONtech

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January 10, 2009: This book is nicely written, with some engaging anecdotes right from the start that clearly explain concepts like dollar cost averaging and the volatile temperament of "Mr. Market".

The idea of investing for dividends is a sound idea, particularly if you can get in on the ground floor. If a company with a share price of $1 pays a 5% dividend, then this is 5 cents per share. If the share price grows to $2, then, to maintain the same dividend yield of 5%, the company would pay out dividends of 10 cents per share. Although the reported dividend yield is 5%, YOUR personal yield (because you bought at $1 per share) is actually 10%. This idea of rising dividends is expressed in the book using a very simple equation: the Gordon Growth Model.

What this idea also demonstrates, through, is that the idea of "buying low" and "selling high" (i.e. market timing) should not be disregarded entirely when investing for dividends.

So far, so good for dividend investing.

The problem -- which I explore in "Stock Fundamentals On Trial: Do Dividend Yield, P/E and PEG Really Work?" -- is in screening for stocks that have attractive dividends. Analysts' forecasts can be wrong, sometimes (and recently) quite spectacularly wrong. Furthermore, if you take my opening statement in reverse, it will become apparent that a too-good-to-be-true high dividend yield might be the result of the company's share price plummeting. A declared dividend yield of 5% would appear to be an amazing 20% if the share price suddenly fell from $1 to $0.25. This really did happen to some financial stocks last year.

In a nutshell, I'm saying that: dividend investing is a sound strategy, and this book describes it well, but be careful to understand it properly. It's not just a simple matter of "buy a basket of stocks that have the highest forecast dividend yields".

Sound strategy, sound book, but beware the subtle dangers.

Tony Loton, author --
"Stock Fundamentals On Trial: Do Dividend Yield, P/E and PEG Really Work?"

I Also Recommend: Stock Fundamentals on Trial.

Dividend Book doesn't care about the dividend?by Anonymous

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April 17, 2008: Did anyone who read and used this book note that the Formula that Josh Peters used to determine Projected Total Return has noting to do with dividends???? Although he uses dividends in the formulas, they are used in two different places 'funding gap and yield' and end up canceling each other out. So if you lay out the data on a spreadsheet and calculate the values for Yield, Cost of growth, etc. and vary the dividend, the Proj Total Return never changes. How can a whole book devoted to dividends not depend on the dividend?