Statistics updated to reflect Friday's closing prices.NEW YORK ( TheStreet) -- The Dow Jones Industrial Average is no longer a bargain, according to one fundamental valuation measure. As of Friday's close, the liability-adjusted cash flow yield (the anticipated rate of return whereby all of a company's debts and liabilities are (proportionally) assumed into the purchase price of the stock) of the SPDR Dow Jones Industrial Average ETF ( DIA) is 4.03%. Divide this figure by the 2.82% yield of a 10-year U.S. Treasury Note and the resulting margin of safety ratio is a scant 1.43 (a ratio greater than 2 is desirable). In light of these figures, bond and index fund investors should prepare for total-returns below historical averages. However, "stock pickers" should be able to generate satisfying long-term returns* by selecting equities with attractive valuations, strong returns on invested capital and a durable competitive advantage. Last week we focused on the 10 Dow stocks with the least attractive valuations -- a portfolio of companies that suffer from weak or irregular cash-flows, excessive debt burdens, and possibly, a damaging speculative interest. This week we highlight the 10 Dow stocks with the largest (most-attractive) liability-adjusted cash-flow yields (using 10-year historical data). Some of these stocks may trade at valuations that scream "buy," but remember, the true merit of any investment rests in the stability (and ideally, growth) of future cash flows. In this regard, you the investor must form your own considerations and conclusions. *In the short-term, even the most attractively-valued stocks may suffer due to large-scale pension rebalancing and the herd instincts of institutional and ETF investors. Therefore, it is always prudent to first check the margin of safety of a broad stock index before fully committing capital to individual stocks. If stocks are collectively undervalued as an asset class, there is less of a chance that already-undervalued securities will suffer an irrational selloff (and subsequently, there is less of a need to hold cash reserves to protect against a potential opportunity cost).