In the stock market, we can make our small contributions to stability and sensibility within the scope our own portfolios, by frankly acknowledging that an investment based primarily on expectations of an increase in selling price is ultimately based on little more than perceptions and group psychology.

We can choose instead to return to the traditional, literal reality-based view that the only truly substantial reason for owning a stock is the expectation of being paid a dividend.

Not only will this make put our own personal portfolios on a more sound footing, it can also enable corporate executives to return to the healthier and more reality-based task of generating literal profits—rather than constantly entertaining the galleries on Wall Street.