FYI: 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. You could certainly make the case for comparing bond yields to stocks in terms of expected returns in the asset allocation decision but comparing bond yields to dividend yields makes little sense. This piece I wrote for Bloomberg makes the case that measuring stock and bond yields against one another is not an apples-to-apples comparison.
Regards,
Ted
http://awealthofcommonsense.com/2018/04/why-it-makes-no-sense-to-compare-dividend-yields-to-bond-yields/