FACTS: 1) annualised return of djia for past century is around 10% 2) that of straits times index for past many decades is ard 9%. 3) of these annualised returns, approximately half comes from dividends n the other half from price appreciation. IMPLICATION: Buying a stock which pays dividend every yr for as long as it exists is key. a) from above point 3, we know that we get half the deal already if we do so. b) both points in 3) are RELATED. We know most companies raise dividends over time n this invariably causes price appreciation THE QUESTION OF WHEN TO BUY/SELL: We need capital protection which is cornerstone of investments so we do these: 1 a) undervalued stocks - margin of safety concept to determine approximate entry price and exit price when this MOS is lost. b) growth stock - mostly PB greater than 1. Go only ......