An idiot income portfolio

Ultimately, the rules of income investing are unpretentious: keep it simple, buy reliable yield, not high yield, share prices are more important than dividends, go large on the banks, add some hybrids if you’re a chicken and don’t forget the golden rule of income investing: only buy for income if the share price is going up. It’s called the “idiot income portfolio”. It’s the same as the “idiot portfolio” but slightly different.

The idiot portfolio is the portfolio financial professionals buy you so they can’t be sued. They distil it by listing all the shares in the S&P/ASX 200 index on Excel, sorting them in market cap order and then, starting at the top, crossing out any stocks they can’t spell, don’t understand and wouldn’t be able