LYC (ASX) LYC Drop

Originally posted by ContraryJ: ↑

Simoni the title bar is keeping me from showing your post which is garbage.

Sorry now why do you think they did not make it. I gave the rules but apparently you did not read them or could not understand them. Thats fine with me but to label me wrong just because you did not get it is wrong. so here are the Requirement's again. if you think i am so wrong why don't you use the ASX document to prove it instead of how you think it should work. there are 25 pages of explanations and requirements.

https://www.spglobal.com/spdji/en/documents/methodologies/methodology-sp-asx-australian-indices.pdfI Bring your attention to Page 8 about the midle where the statement is that you say I am wrong about.

Positive Earnings. For the S&P/ASX Small Ordinaries Select, as of each rebalancing reference date,
earnings per share (EPS) data is taken for all stocks in the index universe (last twelve-months EPS data
is given preference over fiscal year EPS data). Non-constituent stock’s prior two years EPS must each be
positive to be eligible for index inclusion. Current constituents’ stocks with two consecutive years of
negative EPS, as of the rebalancing reference date, become ineligible for index inclusion.
Quoted Shares Issued. When considering the index eligibility of securities for inclusion or promotion inI did make one mistake and you did not even point that out. I started saying they were not elagable till Oct 2023 that is wrong it is Oct 2022

F buffet you should do some of your own research before endorsing junk. Sorry now why do you think they did not make it. I gave the rules but apparently you did not read them or could not understand them. Thats fine with me but to label me wrong just because you did not get it is wrong. so here are the Requirement's again. if you think i am so wrong why don't you use the ASX document to prove it instead of how you think it should work. there are 25 pages of explanations and requirements.

https://www.spglobal.com/spdji/en/documents/methodologies/methodology-sp-asx-australian-indices.pdfI Bring your attention to Page 8 about the midle where the statement is that you say I am wrong about.

Positive Earnings. For the S&P/ASX Small Ordinaries Select, as of each rebalancing reference date,
earnings per share (EPS) data is taken for all stocks in the index universe (last twelve-months EPS data
is given preference over fiscal year EPS data). Non-constituent stock’s prior two years EPS must each be
positive to be eligible for index inclusion. Current constituents’ stocks with two consecutive years of
negative EPS, as of the rebalancing reference date, become ineligible for index inclusion.
Quoted Shares Issued. When considering the index eligibility of securities for inclusion or promotion inI did make one mistake and you did not even point that out. I started saying they were not elagable till Oct 2023 that is wrong it is Oct 2022

F buffet you should do some of your own research before endorsing junk.

Expand

@ContraryJ I have read the 25 pages for the ASX Methodology and I understand it. I didn't think I needed to educate you but here goes:

I refer you to page 3 - This shows the Index Family.
Read "S&P/ASX100" - It is the 100 largest stock
Read "S&P/ASX200" - It is the 200 largest stock
Read "S&P/ASX Small ordinaries" - It is the 300 largest stock (excluding any stocks in ASX 100)
Read "S&P/ASX Small ordinaries select" - It is a subset of the "Small ordinaries" with a requirement of "positive earnings".

Now go to Page 8, This is the continuation of "Eligibility Criteria" that starts on page 6. If you go to "Positive Earnings" it defines what is meant by this term. As you can see, the positive earnings is only an eligibility for inclusion into the "S&P/ASX Small ordinaries select" (Not the ASX100 or ASX200).

Now go to Page 10 & 11. This show you that the eligible stocks for inclusion in the ASX200 & ASX100 in based on the "float-adjusted market capitalization" (ie: Share are ranked 1 to 200 based on their market cap). However in order for the rebalancing to remain less volatile, there is a "buffer" for a stock to be included and also a buffer for a stock to be excluded from the list. For inclusion into the ASX100 the stock needs to be 84th or higher and for it to be removed then it needs to be 116th or lower.

Now to again to educate you on some facts:

FACT 1 - LYC is already in the ASX200. Added in December 2017. See below link to official inclusion https://files.marketindex.com.au/files/announcements/20171208-asx200-rebalance.pdf

FACT 2 - LYC was in the top 100 companies in the latest rebalancing, however it didn't meet the buffer criteria of 84th or higher. There is no requirement for "positive earnings" to be included in the ASX100.

Hope this clarifies and debunks any mistruths that you are dribbling. Now please tell everyone that your were totally wrong!!!!