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The myth of 'passive cash flow'
Many chase dividends, wanting to see regular payments in their account. This is a psychological trap: you make decisions based on the comfort of 'cash in hand' rather than overall investment efficiency.
In the long run, a stock that pays no dividends but scales efficiently can provide you with much more liquidity when sold. You don't need cash flow every quarter if you can sell a portion of the asset when you actually need the money.
The regularity of dividends does not compensate for the loss of tax efficiency.
#portfolio #money