$General Mills(GIS.US) Always looks low whenever I check. It was once my largest holding, and I suffered huge losses. Buying stocks still requires choosing good companies. This kind of consumer goods company, without a strong moat, will eventually decline. I didn't do thorough research before and just bought it blindly. Relying on dividends still requires selecting companies with a strong moat, otherwise, if the company itself goes downhill, where will the dividends come from? The loss in stock price far exceeds the gains from dividends.

1. For value investing focused on dividends, choose those with a strong moat, monopolistic in their industry, and with substantial fixed assets generating stable returns. (The advantage is stability; the downside is not making much money.)

2. If buying junk stocks, it's essentially risk speculation, and dividends are not an important reference. Profit or loss is still determined by the stock price; dividends have little impact.

General Mills' assets are all brand assets, virtual assets. When brand power declines, the moat built by these things is too weak. I bought it blindly before without meaningful consideration.