The Value Perspective: Income outcome

Could a growing obsession with yield in some parts of the funds industry be distracting equity income investors from more important considerations? That is not to suggest yield is unimportant - only that it matters in much the same way knowing where you are at the start of a journey matters. Once you are on your way, however, knowing your destination and how to reach it become rather more material. Yield - essentially the income an asset generates divided by that asset's capital value - is an extremely useful thing to know on the first day you make an investment. If, for example, you are...