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Richard C. Young & Co., Ltd.

Richard C. Young & Co., Ltd. is a Naples, FL and Newport, RI based financial advisory firm. We have been ranked by Barron’s as one of the top independent financial advisors in the nation for the last eight consecutive years. We manage portfolios for individuals, families, and small businesses throughout the United States.

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A Stealth Down Year in Stocks

January 27, 2016

January 2016 Client Letter

For many investors, 2015 was a challenging year. The S&P 500 managed to eke out a positive total return, but it was a handful of stocks (many of the more speculative variety) that carried the market. The average U.S. stock was down more than 4% last year. Take away Amazon, Netflix, Google, and Facebook and the S&P 500 would have finished in the red.

A Lack of Breadth

November 30, 2015

November 2015 Client Letter

Despite modest gains in the U.S. stock market this year, most U.S. stocks are down year-to-date. Outside of a handful of names, it has been a challenging year for equities and most especially for global equities. In the chart below we compare the performance of big U.S. stocks to small U.S. stocks, foreign developed market stocks, and emerging market stocks. The only group that has managed to stay out of the red YTD is big U.S. stocks. How have the big-cap U.S. stocks managed to stay in positive territory when most companies in these indices are down on the year? Fewer and fewer big stocks are responsible for the gains. Analysts call it a lack of breadth. A recent USA Today piece explains.

Dividends the Key Element to Investing

October 29, 2015

October 2015 Client Letter

In July 1989, just four months before Richard C. Young & Co., Ltd., was incorporated, my dad was interviewed by The Providence Journal Bulletin. In that article, titled “Dividends the Key Element to Investing,” my dad provided the following stock advice:

  1. The smart individual investor will tie down yield first and let capital gain come as it may.
  2. Bet on stocks that have dividend momentum.
  3. Pay no attention to companies that cut or don’t pay dividends.
  4. Ride out core positions through thick and thin.
  5. Assemble a portfolio of stocks that has a yield higher than the Dow’s yield and a growth rate in dividends that outstrips the Dow’s growth rate.

Up 230%

September 30, 2015

September 2015 Client Letter

From its March 2009 low, the S&P 500 is up 230%, including dividends. That is an impressive return and has been cited regularly by pundits and promoters as a reason to buy more stocks. But it is important to remember that few investors earned 230%.

Market Corrections are Normal

August 31, 2015

August 2015 Client Letter

In August, a five-day financial markets rout saw the Dow Jones Industrial Average, the S&P 500, and the Nasdaq each decline over 10%, serving as a reminder that markets do indeed go down. The negative backdrop to the five-day mini-crash was evidently initiated by worries over China’s slowing economy, currency devaluation, and a drop-off in commodity prices.

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Client Letter Archives

Surely, You’re Joking

September 24, 2024

Has the Situation Really Changed?

August 28, 2024

“Irreplaceable Infrastructure”

July 9, 2024

The Stones on the Road

April 5, 2024

Revisiting the Arithmetic of Portfolio Losses

September 7, 2023

The Narrow Rally

July 6, 2023

The Great Comeback

May 22, 2023

Is Your Bond Allocation Where It Should Be?

March 31, 2023

Your Money Makes Money

February 3, 2023

Prudence, Intelligence, and Discretion

December 2, 2022

Bonds Play Role in Portfolios

November 2, 2022

Recession? Dividends Can Provide a Cushion

September 6, 2022

The Decisions You Make Today

July 5, 2022

May 2022 Client Letter

May 2, 2022

Consistency

March 21, 2022

Sticking to the Plan

December 23, 2021

The Best Rule Is: Stay the Course

September 30, 2021

Headline Investing

July 1, 2021

Yield Scarcity

May 20, 2021

Maintaining a Long-Term Perspective

March 4, 2021

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NAPLES, FL
5150 Tamiami Trail North, Suite 400
Naples, FL 34103
Phone: (888) 456-5444 Fax: (239) 213-0770

NEWPORT, RI
98 William Street
Newport, RI 02840
Phone: (800) 843-7273 Fax: (401) 849-0002

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