Arborbridge wrote:Gengulphus wrote:I suspect that the answer is that you got the idea that sorting shares by dividend yield was involved from some posters about using it as part of their own HYP share selection process and/or recommending its use by others.
Or to be fair to Alaric, he might well have found the idea in the original writings of Pyad because that was the method described by him. It is the guidelines here which have moved away from the original scheme so are to the extent are "not HYP" so to speak. They've been sanitised, I suspect.
Well, it's actually TMF's 2008 HYP Practical guidance that first did that in any formally-written-down form: they don't require the share selection method to include sorting by dividend yield any more than this new TLF HYP Practical guidance (or any of the intervening versions of HYP Practical guidance) does. Though I'd say "expanded to include more than just the original scheme" rather than "moved away from the original scheme", as using the original scheme remains entirely within the guidelines: the point I'm making is only that the guidance doesn't require it.
Informally, by the way, that expansion away from requiring every detail of pyad's original scheme to be followed started much earlier. I don't know whether it ever got archived, and certainly don't have a link to an archived copy that I can supply as evidence, but years ago (before the TMF boards vanished, and probably years before that), I investigated what pyad had said over the years about selling shares and found among other things that he'd answered a question in late 2000 or early 2001 on the original TMF "High Yield Portfolio" board about selling policy, to say that he recommended not selling voluntarily at all, but if a HYPer didn't accept that, he recommended a policy of selling if a company failed to increase its dividend. I.e. within a few months of introducing the HYP strategy and starting up a discussion board about it, deviation from at least one detail of pyad's original strategy was being discussed on the HYP board by pyad himself.
Arborbridge wrote:Ian Hughes frequently mentions his method of selecting shares, and he uses the method described by Pyad which codified how HYP works. Arrange the shares in order of yield and work down the list.....etc etc. Of course, I agree with all you say about not being obliged to buy shares uncritically and safety factors need to be applied.
As I said, some posters use it and/or recommend using it. But they don't get to dictate what can and cannot be discussed on the board any more than you or I do - the only people who can do that are the board admins and moderators, acting collectively according to whatever their processes are. If anyone else insists that the HYP approaches discussed on the board are subject to greater (or lesser) requirements than the board guidance says, my recommendation is just to ignore their insistence, or if they insist too hard and disruptively, report them.
Gengulphus