Dividend paying stocks may not always get the recognition they most certainly deserve (they are now!). But they some how have a knack of paying you to be invested. And that’s enough recognition for me. Don’t be afraid of investing in the forlorn, the unloved, or the out-of-favor. They tend to be the one’s that surprise you when they grow-up. In the March 2016 issue of Richard C. Young’s Intelligence Report, Dick Young wrote: The Great John Neff John Neff, in his Vanguard Windsor fund days, was an outstanding proponent of investing in the forlorn, the unloved, the out-of-favor. John was … [Read more...]
The Prudent Man: The Wisest Action is Sometimes No Action
What is the key to achieving the financial success you and your family deserve? Well, for one it’s about keeping it simple—Simple is Sophisticated. Another key is to stop spinning your wheels. In portfolio management terms, spinning wheels or, how long a position is held over the course of a year is called the turnover rate. In other words, if your holdings at the beginning of the year were sold and replaced by new positions, then the turnover rate would be 100%. Here’s a wonderful example, one of my favorite, that Dick Young explains to his readers: Mr. 3.5% Turnover In 1992, Forbes … [Read more...]
Simple is Sophisticated: My Grandchildren’s “Rich as Croesus” Strategy Part II
Scene from Greek history: The deaf-mute son of King Croesus prevents the Persians from killing his father, by Salvator Rosa, c.1663-64. Lucky you! You don’t have to wait for my next installment on Simple is Sophisticated. Going back ten years now, in May 2006, my father-in-law Dick Young wrote to his treasured readers about a simple strategy: Simple is Sophisticated. Easy to understand, but hard to do. For long-time readers this is nothing new to you. The only difference for you is you have a much larger pile of cash from following the advice in Richard C. Young’s Intelligence Report. Why … [Read more...]
Simple is Sophisticated: My Grandchildren’s “Rich as Croesus” Strategy
My father-in law Dick Young wrote this timeless issue in May 2006 in his monthly strategy report: Richard C. Young’s Intelligence Report. Check back in a week or so for more on one of my favorite investing lessons. As you can see I have a somewhat vested interest in the results. Read more of Dick Young's investment strategy here. Simple Is Sophisticated Debbie and I recently made the pilgrimage to Vermont’s Authentic Designs (www.authentic-designs.com) to order much of the inside and outside lighting for a New England home we are renovating. At a most bucolic setting, skilled craftsmen … [Read more...]
How to Become a Millionaire, Part II
The two most important words in investing, as I have been writing in Richard C. Young's Intelligence Report for decades, are compound interest. Albert Einstein described compound interest as the greatest mathematical discovery of all time. Ben Franklin wrote on compound interest, “Tis the stone that will turn your lead into gold.” Charles Munger, longtime partner to Warren Buffett has often said, “Understanding the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things.” Richardcyoung.com contributor, and my longest friend in the … [Read more...]
Are you a Speculator or an Investor?
John Maynard Keynes once compared investing to picking the winner of a beauty contest. Keynes argued that to win the contest one must choose the contestant he believes is the most attractive in the opinion of others, not necessarily the contestant that is most attractive to him. Ben Graham, the father of Value investing, once said that in the short-term the stock market is a voting machine, but in the long-run it is a weighing machine. Who’s right? Keynes and Graham are both right. For traders and speculators Keynes offers the most relevant advice. In the short-run, the … [Read more...]
The Monday Melee: Dividends or Buybacks?
Which Wins? Dividends or Buybacks? CNBC reports that dividends are beating buybacks: In the battle between the barons of buybacks and the divas of dividends, the divas are getting out to an early lead. The PowerShares Buyback Achievers ETF (PKW), which tracks U.S. companies that have repurchased 5 percent or more of their outstanding shares over the past 12 months, is flat this year, underperforming the S&P 500. Meanwhile, the iShares Select Dividend ETF (DVY), which follows stocks with consistently high dividend yields, has risen 9 percent in 2016. VIDEO: Dividend Payers are … [Read more...]
How to Become a Millionaire, Part I
You may look at my headline with a touch of disbelief, and, to be honest, I would most often join you in the disbelief camp. But I can assure you without reservation that the steps I am going to outline for you in my “How to Become a Millionaire” series can be truly transformational for you and your family. I have practiced the program I will outline for you for over four decades. Over the decades, I have taken fewer than a handful of significant losses in my personal account. The last such unpleasant outcome occurred over a half a dozen years ago when I cleared out a portfolio position … [Read more...]
What I Have Learned from Dick Young
You’ve got mail. It’s always nice to get a gem of an email from a client. E.J. If there is anything I have learned from Dick Young, the most important thing is that it is all about compounding. Please note the attached advertisement from Taylor Cadillac which posted in the latest issue of the Self-Starter, the monthly magazine of the Cadillac-LaSalle Club. This classic example backs up everything Dick has always taught us in his writings. Please pass the article on to him. Regards to Becky and the kids. Happy Easter. … [Read more...]
Your 8% Retirement Yield
In the March 2016 issue of Richard C. Young's Intelligence Report, Dick Young wrote that if you want to achieve an 8% long-term yield for your retirement, you must start now. You indeed can achieve 8% as a long-term yield goal for your retirement years, but you need to get started now. There is little time to waste. I am going to show you how to construct an actual "Retirement Ark." You have not read about such a plan before because only a minority in the investment industry thinks long term for clients. For most, it is all about action, trading, breaking news, taking profits and hot stories. … [Read more...]
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