Comment by tripledry

> In other words, if you want 10% of your savings to be in X, and they do a dividend, then you have to take the cash and buy shares of X.

Wouldn't the inverse of this be true in buybacks though? If it's economically equivalent then buyback should increase the price and similarly increase the proportion of X in your portfolio - which would force you to rebalance (might have tax implications).

Generally agree with the main point.