Earnings-Yield Strategy Targets Stable Ten Percent Returns

The article outlines a passive, mechanical portfolio strategy that holds 1,300 profitable small and mid-cap stocks globally, aiming for a roughly 10% operating cash-flow yield and controlled costs near 0.40% annually. It recommends frequent, small reconstitutions and exclusion of unprofitable firms to reduce company mortality and plans for a 15–20 year horizon with expected net returns around 7–12%.