Adviser for over half a century

Richard Russell

Richard Russell, respected investment adviser for over half a century, has been operating at half-speed for him which is full speed for most of us. In this short note he explains why. More importantly, he comments on what he believes is coming. This is from a man who lived through the Great Depression. Please read his words carefully:

Here I am, at the age of 87, in rehab after I broke a hip, and I ask myself, “Why am I here? And what do I look forward to?” I think the powers above have given me the answer. I am here to serve and lead my subscribers through the incredibly hard times that lie ahead. Since WWII, the markets and real estate have floated up with the expanding money supply. In the next year or so this is going to result in rapidly rising inflation. This will halt the feds creation of ever more money. The fed will not be able to bail the economy out in its usual way, and hard times will envelope the land; housing prices will sink again, and unemployment will rise above 25%. There will be ways to save ourselves, and when the time comes I will be talking about all this.

In the mean time, I will continue to serve my thousands of subscribers, and I thank you all for staying with Dow Theory and your bed ridden editor at this time. In the coming two or three years we will be going through unprecedented situations beyond the understanding of most analysts. In the past difficulties have always been followed by the sentiment, “We will get out of this, and everything will be fine.” That’s the psychology of today, but it’s not going to happen this time. 

I believe Mr. Russell has the proper expectations for what lies ahead. Prepare for the worst and hope for the best. Unfortunately, most hopes are going to be dashed.

I wish Mr. Russell a quick and full recovery and hope he lives to see the end of this mess. If so, he probably has another 20 years.