Yield or no yield doesn't change the investment thesis in any shape or form so that would be silly.
I beg to differ. A constant revenue stream that doesn't dent the principal does change things.
But that's where you are wrong. Just because you aren't the one selling but the one in control of the security you are investing in doesn't mean you don't "dent the principle“.
But you answered my question: misunderstanding of yield by common investors.
I don't see what you mean. How am I misunderstanding yield? Please explain like I'm five if you can.