re: buy and hold?

I have 0 index funds, its all individual blue chips. I just don't see the point of owning SPY which has a 2% yield after the big price drop today when I can build my own mutual fund of companies that all yield 3-5%.

I mean I know it's "riskier" but look if you've got a $3M portfolio the difference between 2% and 4% is $60,000/year in dividends....thats a pretty damn big difference so I stick to the high yielders with great dividend histories. Frankly I don't have 1 stock with a sub $100B market cap so I don't really see it as being risky.

Like I said I've owned individual stocks for nearly 20 years, and for the average investor who doesn't take the time to study balance sheets, dividend payout ratios, and other important indicators, indexing is an awesome option.

I don't hate it....but it's just not for me and my particular goals of a SIGNIFICANT dividend stream that grows annually in excess of inflation.

Really would a 5 stock portfolio of say coke,chevron,phillip morris,altria, and mcdonalds be considered risky? That would give you average yield of almost 4% with incredible blue chips....even if its only 5 companies, if those companies have great products and solid balance sheet, who cares if you're diversified into 100+ companies or whatever the media tells you to diversify into?