Oh hey buddy, where you been?

>As you can see in figure 1, the highest quintile outperformed the broad S&P 500 Index by over 1.3% per year, which turned into nearly 141% outperformance over time. And it did this with a lower beta. Even the second quintile outperformed the S&P 500 by over 1.5% per year, for a total of more than 159% outperformance over time, with less risk.

>but what does one of the top finance professors at one of the top business schools in the world know?

I mean his chart shows that three of the five quintiles underperform the sp500.

This begs the question then, if its so easy to beat the market by picking dividend paying companies, why doesn't every (or at least many) fund manager(s) beat the market?

I'm not saying eschew dividends, I'm saying that whatever most retail investors do is probably going to be wrong, so go with the least wrong option (buying the market)