Your Survival Guy

Preparing your investments and family for when disaster strikes.

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How Can I Be a Great Investor Like Richard C. Young?

By

Dick Young

How can you be a great investor like Richard C. Young?

Study. Keep it simple. Tell it the way it is. All of that comes to mind. But here’s what I want to share with you that I think you’ll find helpful.

It’s a constant battle. It’s a ton of work. It’s a daily grind. It’s not easy.

This week I’ve been studying some old Richard Russell reports from the late 70s. I feel like I’m actually living through the day to day markets with out of control government spending, fear about interest rates rising, inflation, and a lame economy. Sound familiar?

What I’ve enjoyed most is reading Richard C. Young’s notes written in red ink in the margins of Russell’s reports. For me, it’s like having a conversation with two world class investors. I’m a fly on the wall.

If you’ve ever spoken with Richard Young, you know there’s no wishy washy middle. He tells you the way he sees it. And not just about investing.

You like Bordeaux? Good luck winning a conversation about the Burgundies of the Cote d’Or. You like the book the Zen and the Art of Motorcycle Maintenance: An Inquiry Into Values? Have a seat my friend, his and Debbie’s Harley adventures rival that. How about the Patriot’s NFL draft? Or the Cleveland Brown’s for that matter, having grown-up in Shaker Heights, OH. He’ll rattle off names with a familiarity like they’re Tom Brady.

It’s a lot like sipping from a fire hose.

Which brings me to this week’s study project I’ve been immersed in myself. Reading Richard Young’s notes in the margins of the late great Richard Russell (author of Rich Man Poor Man) the Dow Theory Letters are comments written in Red Ink:

“This is 100% right,” “Excellent!,” “No Way this Will Happen,” “Good,” “A Must Read Issue,” “Save this.”

For me, it’s like digging through a gold mine of black-single spaced text looking for precious nuggets of red ink. It’s fun being a miner tucked safely away in my office on a tree lined street in beautiful Newport, RI.

It’s fun talking with the two Richards because I know about their respect for each other and that Richard Young isn’t looking to hurt Richard Russell’s feelings.

Richard Young is simply writing it the way he sees it.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com