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

Has the Situation Really Changed?

August 28, 2024

August 2024 Client Letter

Occasionally, I get anxious before travel. A few of my trips have coincided with some unfortunate crises. In March, several years back, we took a family ski vacation. We’re from Florida and don’t really ski, so heading to Utah was a big deal…

“Irreplaceable Infrastructure”

July 9, 2024

July 2024 Client Letter

In a recent investor presentation given by Kinder Morgan, the company described its network of natural gas and refined product pipelines and terminals as “irreplaceable infrastructure.” That’s a theme that you’ll find holds true for a number of the companies owned in your account…

The Stones on the Road

April 5, 2024

April 2024 Client Letter

The Rolling Stones will tour again this summer. This is not breaking news. It’s been six decades since their first U.S. tour. The Stones always seem to be on the road. What is a little surprising, however, is what Mick Jagger is doing at his age.

Revisiting the Arithmetic of Portfolio Losses

September 7, 2023

August 2023 Client Letter

In March, I wrote about the arithmetic of portfolio losses. With the more speculative indices, such as the Nasdaq 100, delivering impressive returns so far in 2023, it is worth revisiting this concept.

The Narrow Rally

July 6, 2023

June 2023 Client Letter

The S&P 500 and Nasdaq 100 indices have rallied impressively to start the year. After they underperformed blue-chip dividend stocks (FTSE High Dividend Yield Index) last year by the most in at least two decades, both indices are outperforming by a similar amount YTD.