President's Welcome

Dear Serious Investor,

Are you retired or fast approaching retirement? Richard C. Young has been in the investment business for over 40 years and understands fully how nerve-racking the task of managing money in retirement can be -- the stakes are now higher and the margin of error is smaller. As longevity stretches toward once-unthinkable lengths, many of America's retirees are facing a lengthy retirement of 20, 30 or 40 more years -- longer than any U.S. generation has yet experienced. Time, once your closest ally, is now a nagging foe. And emotionalism, always a roadblock to successful investing, is amplified during retirement. Plans of a stress-free retirement full of recreation, travel, and entertainment are burdened by challenges like asset depletion, inflation risk, and a volatile global economy. Is it time you had some help?

A lot can happen during a long retirement period. In this decade alone, we have seen the emergence of China, India, and other Southeast Asian economies on a scale essentially non-existent ten years ago. Geo-political issues involving Iraq, Iran's nuclear and political agenda, North Korea, and the quiet rise in China's military, all require serious attention. For those retired or approaching retirement, keeping up with current events is one thing; but for many, conducting the necessary in-depth portfolio analysis is an overwhelming (and unwelcome) task.

At Richard C. Young & Co., Ltd., we continue to strengthen our research efforts to embrace the changing global, political, and economic environment. We are increasing our attention and focus on global events, especially terrorism, and how these events will affect investment portfolios. The strategy of picking the next "hot stock" will always have an appeal to some investors. And cable programs like Jim Cramer's Mad Money will always have an audience. But when it comes down to the management of a significant portion of your investment portfolio, two words should come to mind -- rigorous research. Research takes time and effort. Conducting the necessary, diligent research year in and year out is one way my company can help you become a more comfortable, successful, long-term investor.

Our Chairman, Dick Young, began his foundation work for investors before he graduated from Shaker Heights High School in Ohio and later Babson College in Wellesley, Massachusetts. From the start, Dick's approach has been to do the right thing for investors by sticking to a conservative, diversified investment style, keeping portfolio turnover low, and making compound interest the focal point. Over the years, you may have heard Dick speak or have read articles, interviews, and profiles on him. To name a few, Dick has been on the cover of Money, featured in "Money Men," in Forbes, and profiled in The Wall Street Journal's "Heard on the Street". For several decades, Dick was a keynote speaker at many of the major investor conferences around the world. For over 40 years, Dick has been helping individual investors just like you.

If you are ready to have the burden of portfolio management taken off your shoulders, we are here to help you. Richard C. Young & Co., Ltd. was founded in 1989 to help investors like you eliminate the emotional stress that comes with day-to-day investing. We keep up on the economy, the markets, and your investments. You keep up on your sleep.

At Richard C. Young & Co., Ltd., we are 100% committed to your comfort and peace of mind. We are not traders or speculators, and we do not offer strategies for either. Our investment plan is simple and focused: Diversification and Patience built on a foundation of Value and Compound Interest. Our focus is to help you achieve your long-term investment success with comfort. We achieve this by selecting from a select group of no-load mutual funds, exchange-traded funds, dividend-paying stocks, and investment-grade fixed-income securities. If you are looking for a diversified portfolio all under one roof with concentration on quality, you owe it to yourself and your family to take action now.

Our mission for you is to take the emotion out of the investment process. We are methodical, disciplined, and process-driven. As the years and decades pass, your individual financial situation will change and evolve. As you evaluate your finances, it's important that you continue to be comfortable with your investment advisor's philosophy. Clients take comfort in our basic investment tenet -- Diversification and Patience built on a foundation of Value and Compound Interest.