Young Research & Publishing Inc.

Investment Research Since 1978

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The Vanguard Wellesley Way

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Vanguard Wellesley is a fund we have long admired at Young Research. It was once a go-to fund for clients, readers, close friends, and even dear family members. What gave Vanguard Wellesley Income so much appeal? Wellesley is the more conservative and younger cousin of the Vanguard Wellington Fund—the nation’s oldest balanced mutual fund. Over its almost 51-year history, Wellesley has invested an average of 65% in bonds and 35% in stocks. The bonds are primarily intermediate-term investment-grade corporates; the stocks are dividend-paying blue-chip names. Wellesley’s Baptism by … [Read more...]

Your Port Against a Storm.

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I developed the Dynamic Maximizers® strategy to serve as an alternative to fixed-income portfolios in an era of historically low and manipulated interest rates. The Dynamic Maximizers® is a maximum safety portfolio, ideal for IRAs, ultra-conservative retired investors, and education savings programs. So far this century, stocks have cratered over 50% twice, with a third crash virtually baked into the cake because of total incompetence in Washington. My Dynamic Maximzers® strategy was a port in the storm during both the dotcom bust and the financial crisis. And while past performance … [Read more...]

My Key West Garden Office

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Hard to believe it has been nearly 30 years since I walked away from dealing with investing clients, prospects, or the financial media. I also stopped speaking at capacity-filled investment conferences around the world from New Orleans to Switzerland to Hong Kong. About that same time, Debbie and I bought two Harley-Davidson motorcycles along with a little pink Conch cottage in Key West, Florida. In the following decades, we racked-up 125,000 miles on the bikes with not a single mishap (or road beer) along the way. Today, dodging road obstacles and traffic or riding through passing … [Read more...]

Richard Young Reports: 50+ Years with Fidelity and Wellington

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I started in the institutional research and trading investment business at Model Roland & Co. on Federal St. in Boston in August 1971. Just up the street from Model were Fidelity Investments, and Wellington Management, both of whom I called on from my very first hours on the job. Over five decades ago, Ned Johnson, aka “Mister Johnson,” ran the show at Fidelity. Jack Bogle, “Mr. Mutual Fund,” had not yet left Wellington to start Vanguard. My focus in the initial going was international research and trading, and remains so today all these decades later. I still consider Fidelity and … [Read more...]

Dick Young’s Safe America Chapter III, Part I.

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The People’s Chemist writes, “State -of -the art science methods prove masks fail to block viral spread. Viruses are everywhere – so tiny a grain of salt is 1,000 times larger.” The medical journal Influenza and Other Respiratory Viruses showed “no relationship between mask/respirator and protection against influenza protection.” The People’s Chemist concludes, “We can rest easy knowing that the best way to avoid illness is to protect and bolster the immune system.” Over the past two years, I have assembled a package of trusted supplements that appear to be useful in bolstering the … [Read more...]

Dick Young’s Safe America: Chapter 1, Part I

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Debbie and I are neither members of any political party nor contribute to any PAC. Our research interest is policy rather than politics. Our methodology, for over four decades, has centered on inference reading and anecdotal evidence gathering. Originally posted on Young's World Money Forecast. … [Read more...]

Now Is the Right Time to Make Dividends Your Ally

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For over five decades, the underpinning of everything I have written has been a foundation of dividends. It has served me well, and if you have followed my advice, it has served you well too. Shortly after the dotcom bust, I wrote a segment titled, “Make Dividends Your Ally.” In it, I said: Regarding dividends, corporate directors have deluded themselves for many years in two ways. First, they have been too concerned about double taxation. Many investors don’t care about double taxation because they are (1) saving in tax-deferred accounts or (2) need the dividend income in retirement. … [Read more...]

Stock Market Investing for a Secure Retirement

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Here’s why I don’t follow the meaningless price or market capitalization stock market averages, especially the likes of the Dow and S&P 500. The S&P 500 Index: only 50 of the biggest cap names account for more than 50% of the total S&P500 Index. The Dow 30: only 10 of the highest priced stocks account for more than 50% of the total Dow Jones Industrial Average. No thanks to index investing in either the Dow or the S&P. Dick Young's Investment Rules Why savvy investors saving for a long and comfortable retirement should always follow RCY’s guide in crafting balanced … [Read more...]

Strong Performance for Shippers as Economy Finds its New Balance

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Paul Ziobro reports on FedEx's strong quarterly performance in The Wall Street Journal, writing: Christmas came in July for FedEx Corp. FDX 0.14% The delivery company posted the highest quarterly revenue in its history as the coronavirus pandemic spurred residential-shipment levels normally seen during the holiday season. FedEx shipped 31% more packages a day through its Ground network during the summer months. The extra cargo boosted profit more than 60% for the three months ended Aug. 31. More consumers are buying products such as laptops and toilet paper online because of temporary … [Read more...]

Monetary Heart Attacks Likely to Lead to S&P 500 Crash

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My charts (the Fed’s EKG) on high powered money and M2 growth point clearly to undisciplined chaos at the Fed. Do you see any instance of such chaos in preceding decades? No! Indeed, payday will arrive. The table indicating my own program of gold buying gives you a look at one of a number of moves I made last spring to balance myself for the inevitable comeuppance. At our family investment counsel firm, we emphasize ongoing strategy discussion, featuring new issue corporate bonds, dividend-paying Swiss franc denominated stocks, and currency and especially high US dividend-paying … [Read more...]