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Richard's Wisdom

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Richard's Thoughts on Gold

Richard's Comments

 

As far as I can see, there's only one "safe haven" in the rapidly changing world of today. It's an item that has served as a safe haven for 6,000 years. Because gold is the only item that can't go bankrupt, for thousands of years, gold has been treated as pure wealth.

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Richard’s Thoughts on the Great Dow Theorists

Richard’s Comments

 

E. George Schaefer of Indianapolis was a major figure in the history of Dow Theory. Schaefer started his career as a stock broker with Goodbody & Co. He spent many years studying the work of the great Dow Theorists who preceded him. 

 

But Schaefer concentrated his studies on the brilliant and original writings of Charles Dow. Schaefer was a firm believer in VALUES. One of Schaefer's favorite quotes from Dow was, "An investor who will study values and market conditions, and then exercise enough patience for six men, will likely make money in stocks."

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Richard’s Thoughts on the Royal Road to Wealth

Richard’s Comments

 

I started investing during the late-1940s. The philosophy of investing was different then. Remember, at that time the US had just emerged from World War II, and before that the US had suffered through a brutal decade of the Great Depression.

 

After World War II investors were convinced that once again the US was fated to sink back into Depression. Of course, that never happened. Actually, between 1946 and 1949 the US did sink into recession, and this more than ever convinced investors that a resumption of the Great Depression was on its way.

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Richard’s Thoughts on Buying Values

Richard’s Comments

 

Are there any absolute values in this business? In the "old days" investors did talk about absolute or "real values" or "great values."

 

I've spent the last few months mulling over the whole stock market situation. And this is what's been forming and fermenting in my tired brain. The last time we saw great values in the stock market was during the 1980-82 period. That was a great bear market bottom, and the beginning of a fabulous, long-term primary bull market.

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