Subject: Re: Owners Manuel
I think the psychological thing is "They give me money without me having to do anything." So to many of them it feels like free money.

I think it's also paired with the notion that all stock prices are random anyway: "the stock price was going to do the same thing with or without the dividend, so it's obviously free money on top". It follows that only a chump would own a stock that doesn't pay a dividend, as they're turning down free money.

Pointing out the obvious drop in share price and market cap (and obviously value per share) every time a stock goes ex-dividend doesn't seem to register.

Jim