dspp wrote:Gengulphus wrote:And by the way, "only sell if forced" is not a "HYP rule" on HYP Practical (either TLF's or TMF's previous version), nor for all of pyad's demo HYPs (the now-defunct HYP3 and HYP4 didn't have it), and not even HYP1 has obeyed it all that religiously! It's a recommendation by pyad (which he does find occasional reasons to make an exception to), a personal rule that some HYPers follow, and something that zealous anti-HYPers love to treat as an absolute "HYP rule" that all HYPers must follow because it makes their job of arguing against HYP easier...
That's your personal opinion. There are other opinions on this matter.
To break it down:
* '"only sell if forced" is not a "HYP rule" on HYP Practical (either TLF's or TMF's previous version)'. This is fact: neither TLF's HYP Practical guidance nor TMF's HYP Practical guidance (nor its earlier version) contains "only sell if forced" or anything equivalent to it.
* '"only sell if forced" is not a "HYP rule" ... for all of pyad's demo HYPs (the now-defunct HYP3 and HYP4 didn't have it)'. This is fact - here is evidence that evidence that neither HYP3 nor HYP4 had it in theory and HYP4 didn't have it in practice, and evidence that HYP3 also didn't have it in practice.
* '"only sell if forced" ... not even HYP1 has obeyed it all that religiously!". This is fact - HYP1 wasn't forced to sell the United Utilities rights in its 2003 rights issue, nor to sell the Mondi shares demerged from Anglo American in 2007, nor to sell Alliance & Leicester shares when they were taken over for Banco Santander shares in 2008, nor to sell Dixons Carphone shares when they were taken over for GVC shares and other securities in 2018 - but in each of those cases, the link and/or HYP1's current holdings show that it did.
* '"only sell if forced" is ... a recommendation by pyad (which he does find occasional reasons to make an exception to)". This is fact. The link about HYP3 and HYP4 above says "I have many times advocated that the best way for most HYP investors to follow the strategy is never to trade voluntarily but rather to hold for eternity.", which is the language of a recommendation, not a rule, and is just one of quite a few quotes I could dig up using such language. And the instances given in the last bullet where HYP1 has sold despite not being forced to are evidence that pyad does find occasional reasons to make exceptions to it even in HYP1.
* '"only sell if forced" is ... a personal rule that some HYPers follow'. Enough HYPers have indicated that it is that on HYP Practical that I find it impossible to believe that it isn't a personal rule for any of them, but I'll admit that it's not something I absolutely know to be fact.
* '"only sell if forced" is ... something that zealous anti-HYPers love to treat as an absolute "HYP rule" that all HYPers must follow because it makes their job of arguing against HYP easier...". I'm sure that with a bit of effort, I could dig out a good number of quotes from anti-HYPers' posts on HYP Practical treating it as an absolute "HYP rule" that all HYPers must follow. I'm pretty sure you or any other interested reader could as well, so I'll spare myself the effort - especially as I don't want to make this discussion more personal than it need be. I will clarify that "zealous anti-HYPers" does not mean "all anti-HYPers", any more than "red apples" means "all apples", and I'll agree that my description of zealous anti-HYPers' motives are my opinion, though I'd like to see another plausible explanation of the fact that they keep attacking HYP strategies on the basis that "only sell if forced" is an absolute HYP rule despite that basis having often been debunked by me and others.
Gengulphus