Ed Note: Richard Russell also loaded up on bonds in the early 80’s when US Treasuries where yielding 18%+. Some of those bonds haven’t even matured in 2011 as they were 30 year bonds. Rough compound interest would turn $1,000 into $311,367at maturity. (include reinvestment of interest income once annually which Richard does). Wow, no wonder RR say’s compounding is the ROYAL ROAD to RICHES)
Thanks Richard-
I remember when you said, “holding on thru this bull will be the hardest thing you’ve ever done”, and “great wealth lies ahead for those that can hold on.” You were so right, I was determined! I bought the “basket of 6 cheapies.” I gritted my teeth and held.
When you said, “silver is cheaper than dirt”, “sell your house, buy silver, later you’ll buy the block”- well, we didn’t sell the house, but we took a down payment we had saved for investment and bought bags of silver (from Leon) and other assorted coins – that money has now almost quadrupled , and, we are buying a small house next door to us – who knows, maybe we will buy the block later, much of it is for sale at ever decreasing prices.
When gold hit $500 and you said, “you should now own all the gold you want to hold”, I made sure to have a lot. When gold hit the high $800’s you said, “last chance to buy gold under $900, it’s still cheap”, we added a little more. You were oh so right when you told us, “2/3’s physical, 1/3 stock”- (wish I would have listened to that, would have saved me some sleep for sure). We did not listen in the summer of 2008 when you wrote, “sell all your gold stocks now”- if we had, we would have a lot more money right now.
So, where are we now- we have over $***,***invested in metal stocks and physical. Really hoping that will turn into enough to help us retire. We also own 2 businesses, (natural food stores) which we’d like to turn over to our kids if we can. We are holding on tight and hoping that you are right once again, and this may be the start of the 3rd phase- we’ve been waiting for this for 10 years now.
I have been reading you since I was 7- for me, a day without Russell is like a day without sunshine. Thank you. I have learned more about investing and the world from you than anyone except my father- another veteran from WW2, no longer alive. You truly are one of the greatest of the “Greatest Generation”.
G-D bless you – or as my grandmother would have said, “ly levin dein kup” (forgive the spelling).
Russell Comment — Good to hear from you, and great to listen to your success story. Every once in a while I get an e-mail that makes me feel good. They can also make me feel old. I get e-mails from subscribers who tell me, “My dad used to read you, and I got the habit.” So far, l haven’t received an e-mail saying “My grandpa read your stuff back in the 1950s.” As for me, I’ll just keep on truckin’.
Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his report daily for a year. HERE to subscribe.
The 84 yr. old writes a market comment daily since the internet age began. In recent years, he began strongly advocated buying gold coins in the late 1990’s below $300. His position before the recent crash was cash and gold. Richard and his subscribers also loaded up on Treasury bond @ 18% in the early 80’s when US Treasuries where yielding 18%+. Some of those bonds haven’t even matured in 2011 as they were 30 year bonds. Rough compound interest would turn $1,000 into $311,367at maturity. (include reinvestment of interest income once annually which Richard does). Wow, no wonder RR say’s compounding is the ROYAL ROAD to RICHES) There is little in markets he has not seen. Mr. Russell gained wide recognition via a series of over 30 Dow Theory and technical articles that he wrote for Barron’s during the late-’50s through the ’90s. Russell was the first (in 1960) to recommend gold stocks. He called the top of the 1949-’66 bull market. And almost to the day he called the bottom of the great 1972-’74 bear market, and the beginning of the great bull market which started in December 1974.