I don't short stocks, but it's not stupid. Stocks tend to fall much quicker than they rise. I've done my share of put options.
As for the various dividend stocks, you buy the big payers for the yield obviously. Some may not even care about total value as long as they don't cease the dividend. I know some people who are leaving the portfolios to their step children, but they get the income generated in the meantime.
I will agree many MLP's have done poorly, however, I managed to get my mother over 9% income based on $100k for 19 years before running the account to zero. So it has its desired effect.
As for Buffett, no, dividends aren't paramount to his strategy, but he does like dividend paying stocks.
Just my opinion, of course.
