> So, give breaks to companies that cannot pay dividends, because the ones that do are the ones who are obviously signaling that they are fine. This is correct

> So, give breaks to companies that cannot pay dividends, because the ones that do are the ones who are obviously signaling that they are fine. This is correct - but the opposite of the GP comment. > I am fascinated at companies like Snapchat whose shares command no voting power and do not pay a dividend. Pricing here is based on the anticipation of future dividends or buybacks.