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BOARD GUIDANCE

Practical discussions about equity High-Yield Portfolios (HYP) for income
Forum rules
Tight HYP discussions only please - OT please discuss in strategies
Clariman
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BOARD GUIDANCE

#98961

Postby Clariman » November 26th, 2017, 2:07 pm

The LemonFool has 2 Boards for the discussion of High Yield investments. This post gives guidance on the IMPORTANT distinctions between them. Please abide by this guidance. This board (HYP Practical) has a very specific purpose which is outlined below. If in doubt about where to post, please post on the other board (HY General - Strategies) where the discussions can be more wide-ranging. A post is available in the Biscuit Bar should any comment be needed viewtopic.php?f=21&t=8653 . However, this board definition has been produced after earlier discussion here and a more recent discussion amongst the Moderators. Therefore, do not expect any changes, but we will listen to any comment. Please do not comment or discuss on either of the High Yield boards.

Thank you for your co-operation
Stooz and Clariman

HYP Practical

For the HYP Practical board we define a HYP as a portfolio comprised exclusively of ordinary shares. If selected, such shares should have a dividend yield above the average for the FTSE100 index and be drawn from the constituents of the FTSE 350 index. At its simplest, it will have at least 15 holdings, none of which should be from the same sector. A long term buy and hold (LTBH) of these shares is envisaged.

Investment Trusts or open ended funds should not be included, although REITs are acceptable.

Selection criteria may include the yield, the dividend record and a history of increases. Debt level and free cash flow should be considered. Personal feelings can affect the choice, including ethical considerations. Additional criteria may be used by individuals.

Discussion of potential shares, and of shares which have been selected in the past, is acceptable on the HYP Practical Board. The construction, management and performance of HYPs is acceptable. Discussion of other high yield approaches, including non-ordinary shares and fixed interest securities, is best carried on on the High Yield Share Strategies - General board. If in doubt post on High Yield Share Strategies - General.

This should not be taken as investment advice and individuals should do their own research and decide whether a HYP strategy is appropriate for them, and the "criteria" that they feel appropriate for their personal circumstances. Please note there are many possible investment strategies, and HYP is only one of these, and the performance of any investment strategy cannot be guaranteed.

High Yield Share & Strategies - General

The High Yield Share Strategies board is intended for wide-ranging discussions of ways to obtain high yields from equities. Securities such as preference shares, PIBs, Investment Trusts, ETFs, etc. can be considered. However there are dedicated boards for Investment and Unit Trusts, Gilts and Bonds, and Investment Strategies where some discussions may be better carried out if they relate solely to those securities. In some cases, cross-posting may help others find a discussion of interest, if a mix of types of securities is involved.


Should I post a news-related item on HYP Practical or the Company News board?

If your company news-related post concerns major pieces of news, then feel free to post on HYP Practical. This particularly applies when the news in question may prompt readers to query the advisability of the company in question as a HYP share. So HYP Practical is the place to post details of annual results, interim results, profit warnings, dividend cuts or increases, and anything that may obviously and directly impact the income that a HYPer can expect. Depending on their nature, corporate actions may also be relevant. The overall intent of this guidance is to ensure that only news items that are likely to impact HYP owners in a practical way should be posted and discussed on the HYP Practical board.

If your news-related item doesn't fall into this category, it's probably best on the Company News board. Here, it may also be seen by readers who don't tend to visit the HYP Practical board.

Note: it is perfectly in order to post a brief message to the HYP Practical board saying that a news item has been posted on the Company News board. If this is done, it is important to include a link to the Company news item, and to make sure that the HYP Practical post's title makes it clear that the news is posted on the Company News board, where further discussion should take place. Some indication of the news in the title is especially helpful. An example might be: "AstraZeneca: stage III drug trial results posted on Company News."

Does an item being posted on Company News preclude it being discussed on HYP Practical? No, of course not, although in most cases this will be unlikely, given the reduced relevance of such news-items to the practical running of a HYP. The correct way to do this is create a thread title that makes any HYP implications clear, link to the either the original RNS or (better still) the Company News thread, and then explain why this particular news item may have HYP implications. DO NOT baldly post the RNS or Company News link without explaining any HYP relevance. An example might be: "AstraZeneca: could the recent stage III drug trial results accelerate dividend growth?"

Again, the smell-test should always be to ask 'Is this news item likely to impact HYP owners in a practical way?', and if that question cannot be answered positively, then Company News is the most appropriate board for discussion of it.

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