Since my Babson College days in the early Sixties, I’ve reviewed dozens of sage investment tomes, scholarly papers, and journals, along with hundreds of investment newsletters. But one book remains on my desk today, 54 years later: Ben Graham’s Security Analysis. I find zero need to go beyond Ben’s original base of dividends and the miracle of compound interest. I do all my own research, and do not work with Wall Street or waste a minute contacting corporate CEOs and financial officers. And never in my own portfolio have I taken a significant loss. In this issue, I lay out my early history at Model Roland & Co. with my favorite client, Wellington Management, and how America’s dean of international monetary experts, Edward M. Bernstein, helped put my very first currency reports on the map. You’ll also find my favorite quotes about compound interest I’ll also present two rosters of all-star books that I have benefited from reading through the years—one of books with financial, political, and historical topics, and one of nutrition and health books—and a list of the top articles you can read today at richardcyoung.com. Rounding out the issue is a historical look at what the framers of the Constitution had in mind with the powers of Congress and the Presidency, and what good ideas I thought they gave up when they abandoned the Articles of Confederation. Read more
Each month, I provide you with an Economic Analysis supplement to the issue. This supplement provides you with a bird's eye view of the indicators that I monitor on a regular basis. The incisive, story-telling charts included in this supplement are updated every month and range from "The Leaders" to "World Currency Reserves/World Gold Reserves." There will always be great new material as well as timely reference dates, and my comments spell out the meaning of each chart for you.
July 21, 2017 Here the FT reports on the value of land underlying America’s city and town governments as a possible solution to America’s pension crisis. According to one estimate, the value of land owned by local governments, excluding public parks is $25 trillion. That compares to $3.8 trillion in municipal debt and $7.5 trillion in accumulated pension […] Read more
Dick Young grew up in Shaker Heights, Ohio, and graduated from Babson College in Wellesley, Massachusetts, with a B.S. in investments. He began his investment career in 1964 with Clayton Securities in Boston, and founded Young Research & Publishing, Inc. in 1978 to publish Young's World Money Forecast. Read more
I would like to thank you for an informative and straightforward newsletter. I left for many years and I’ve read hundreds of newsletters, technical investment journals and analysts reports but few as enjoyable or helpful in reaching the end result–investment understanding and growth. Thank you.