New Site Rule and Tweak to HYP Practical Guidelines

[Alaric]

Nothing has changed.

So it's a rigidly defined set of rules from twenty years ago and most definitely not something that has evolved with time.

[Lootman]

Nothing has changed.

So it's a rigidly defined set of rules from twenty years ago and most definitely not something that has evolved with time.

I think that may be a little unfair (as well as pushing the discussion into banned territory). A couple of examples:

TLF prescribes the FTSE-350 whereas Pyad advocated only the FTSE-100 (albeit before that index was invaded by foreign miners with names with no vowels in them).

Structured tinkering, as TJH performs, is I believe widely accepted even though Pyad would disapprove.

So it does evolve, albeit glacially. I think your real beef is with the various appeals to "scriptures" written 20 years ago. I find that odd myself. Any method that does not grow and evolve, will die.

But I also think the answer to that problem is not no structure at all. I have advocated various income strategies here and on TMF over the years. This includes selling options, using royalty trusts and other annuity-style approaches. But I rarely post knowingly on HYP-P any more about them no matter how much I believe they are relevant to an income-minded investor.

[csearle]

So it's a rigidly defined set of rules from twenty years ago and most definitely not something that has evolved with time.

Some rules are fairly rigid (and are fairly time-honoured since pyad codified them). Some aspects are more discretionary, like safety factors, and to tweak-or-not-to-tweak.

If our society evolved to the point that stockmarkets didn't exist then maybe this strategy will have to evolve, or simply not be available. If you would like it to evolve then you are more than welcome to assign a title to your evolved HYP and post about it to your heart's content on High Yield Shares & Strategies - General.

Chris

[GoSeigen]

Following discussions here and between the Mods, I have added a new site rule and made some small amendments to the HYP Practical Guidelines.

Thank you Clariman. I think the most important thing to note from your post is that you as owner are making constructive changes in response to what users are saying. This is so so much better than a board where owners are completely deaf to comments or where anarchy reigns.

I hope you will feel some of the warm glow of thanks amid the gales of protest that inevitably accompany change.


GS

[tjh290633]

.....such as total return and XIRR.

Unfortunately some of the Excel enthusiasts on HYPP have been in the habit of bringing up TR and XIRR.
I hope this will cease, as imho it muddies the waters.
HYP was and is about income income income, with capital performance an incidental.

Other investment strategies are of course available.

V8

It is not unusual to unitise your portfolio and to have both income unit and accumulation unit versions. The latter provides a measure of TR, and so ought to satisfy those critics who complain that TR is ignored. It is, of course, useful during the accumulation phase of building a portfolio.The income unit version tells you how your income generation is proceeding.

TJH

[Clariman]

Moderator Message:
As I said, this was an announcement rather than an attempt to re-open old arguments, which are indeed resurfacing, so time to close this one down. Thanks for the positive contributions and the appreciation of what we are trying to do here, for everyone's benefit

Clariman

[MDW1954]

Nothing has changed.

So it's a rigidly defined set of rules from twenty years ago and most definitely not something that has evolved with time.

No, that wasn't what I said.

HYP is as defined in the guidelines. It was defined in the old guidelines, and is defined in the new guidelines. It is not a rigidly defined set of rules from 20 years ago.

I'm not entirely sure why we are having this conversation. It is abundantly clear that the HYP guidelines are markedly different from a pure-Pyad HYP from twenty years ago. As an example, note the fact that the moderators have explicitly made it clear that REITs and REIT-like equities are permissible. Note TJH's regular rebalancing reports, which you incorrectly stated weren't allowed. Note the emphasis on FTSE 350, not FTSE 100. Etc, etc, etc.

MDW1954