Now, as to where the money is, look at the dividends of technology companies. According to the same S&P report, the companies within the technology sector are paying more dividends than companies of any other sector. In the aggregate, they account for 14.7% of all dividends paid by S&P 500 companies. That's up from just 6% in 2007.
There is probably, or should be, a Nifty Fifty list of technology companies. If there was such a list, stocks listed below held by the GMG Defensive Beta Fund (MPDAX) would surely be on it.
International Business Machines (IBM)
Cognizant Technologies (CTSH)
Adobe Systems (ADBE)
Note that several of these don't pay dividends yet, but I expect that many of them will within a year or so.
Some random observations about the old Nifty Fifty companies:There was just a single bank on the list, First National City Bank (FNCB). If Eastman Kodak saw itself as a technology company then, it would be with us now. Notably missing from the Nifty Fifty list: an integrated oil company. Emery Airfreight no longer exists. FedEx (FDX), founded in 1971 by Fred Smith, is now a dominant global player and demonstrates how much can be accomplished in one lifetime. This article was written by an independent contributor, separate from TheStreet's regular news coverage.
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