Client Letter - Richard C. Young & Co., Ltd.

Investing in Signals

February 10, 2026

February 2026 Client Letter

In March of 2023, I was aboard the Celebrity Beyond, somewhere between ports, when something surprised me. Even though I had promised myself to unplug from the markets for a few days, I couldn’t resist. Silicon Valley Bank had collapsed shortly before we shoved off from Fort Lauderdale, and I was concerned about what its failure could mean for the financial system and for our investments more broadly.

Investing In What Doesn’t Announce Itself

January 13, 2026

January 2026 Client Letter

January has a way of pulling our attention forward. Investors start asking what the year ahead might bring and whether the decisions they carried into the new year still make sense. After a year filled with fast-moving headlines and changing narratives, that reaction is understandable.

Investing in 2026: Earnings, the Industrial Story, and the New Bottleneck

December 10, 2025

December 2025 Client Letter

Recently, as I sat in my office, it occurred to me this was the first time in roughly two decades when I didn’t make it back to Rhode Island during the summer—and the first in which I didn’t take a single flight. A few factors contributed, but the primary reason was the unusually large number of meaningful market and policy developments throughout the year…

Investing in the Front Door to the Internet

October 22, 2025

October 2025 Client Letter

Last month, I wrote about Apple as a modern-day consumer staple, a company whose products have become integral to everyday life. The iPhone helps us communicate, navigate, research, shop, and stay connected in ways that are second nature…

Investing In Data Centers

October 3, 2025

September 2025 Client Letter

Last month, I drove my son to Gainesville to begin his junior year at the University of Florida. Moving into the fraternity house began with an introduction to a black box mounted beside the front door. It was a newly installed contactless entry system powered by near field communication (NFC). The brotherhood simply tap their phones near the reader to gain entry.