Why It Makes No Sense to Compare Dividend Yields to Bond Yields

Investors have a funny relationship with yield. Retirees tend to prefer an income-based strategy, even at the expense of total returns. Plenty of investors (and politicians) have a poor understanding of share buybacks. Another area of confusing stems from making yield comparisons across stocks and bonds. This piece I wrote for Bloomberg makes the case that measuring stock and bond yields against one another is not an appl…