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I personally like a bit of both. Dividends are great because it lowers your cost base. But not tax efficient when in a taxable account so I would say a 50/50 mix or the company should make it clear that they will not pay a dividend ever so we can place the business in the correct type of account. Brk sits in my taxable account, Tobacco in my Registered. The trouble with buybacks is most companies dont do them well. When done properly they are powerful, Autozone is the king in this regard. They have bought back 50% of shares in ten years. An important aspect is that they have consistent earnings and a relatively good value on the share price. I cringe when I hear every company doing buybacks last year since it is the "thing" to do.

Well, I'm fully invested and prefer it when the economy is doing well. So, I hope you've got it right Greg.

Lol yea whenever it is.

I use RBC. Even though they are all self directed, my accounts are large enough that i get access to all their research reports (company/industry etc). I find i get a lot of value from the reports their analysts put together. Not the final number… but the build. The logic of how they get to that number. Often i learn some important things i was not thinking about (i am also not an accountant). i also find the Q&A sessions with analysts on earnings conference calls is also valuable. The analysts usually ask at least a few important questions. ————— Having said all that, i do find going directly to the sources is the best: company earnings releases and conference calls.

Garbage! After my first couple of years investing in stocks, I decided I wasn't going to read another analyst report ever again in my life! It is an absolutely unnecessary industry and a racket for investment banks. Although, if you get them free they make great fire starters for your wood fireplace or in a crunch...toilet paper! Cheers!