MDW1954 wrote:Which may be a suitable juncture to bring the thread back to Luni's zones, etc -- the discussion of which is the raison d'être of this elaborately-created thread, brought into being at user request. -- MDW1954
If I'm requoted, I normally try and answer - but you're right.
If the notion of a simple yield ceiling as a multiple of FTSE100 (or something very close to it, like CTY) is something the HYP community feels it can work with, for (non) selection purposes, then perhaps another constructive part of the discussion is the multiple itself. I've seen Luni write somewhere iirc 1.6x, and as people know I've started with 2.0x. I wonder if anyone can come up with any empirical basis to improve on that?