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SDNews.com
Home La Jolla Village News

Financial giant Richard Russell honored

Tech by Tech
April 11, 2009
in La Jolla Village News, No Images, Top Stories
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La Jollan Richard Russell has been writing and publishing the Dow Theory Letters for more than half a century, beginning in 1958 when it was first published by Barron’s. Since that date he has never missed an issue. It is the longest newsletter service continuously published by one person in the investment business. He continues voracious reading, commencing at 3 a.m., devouring dozens of publications to produce his now e-letter full of news on the monetary markets plus whatever interests him that day. He is a business hero to approximately 10,000 subscribers. More than 450 people attended a dinner celebration honoring Russell’s 84th birthday last Saturday night, April 4, at the Man-chester Grand Hyatt. The event was covered by CNN and other syndications. This tribute, sponsored and coordinated primarily by John Mauldin, with seven business associates, was attended by 35 news writers, many of whom Russell helped or encouraged. Several expressed gratitude to their mentor.  People came from a dozen countries, as well as a representative for almost every state in the Union. Very few in this profession have been honored by so many. Excerpts from the 30 years of his writings, including the Elliott Wave theory, were presented by Mark Skousen, another author, who also asked the audience to write their comments in the Bible-size book. Russell was the first writer to recommend gold stocks in 1960. He called the top of this market in 1966, as well as the bottom of a bear market in 1974 almost to the day, thus predicting the new bullmarket in the Dow.   The background of this Renaissance man is impressive.  He lived through the Depression, “saw Babe Ruth hit a home run,” was an Air Force bombardier during World War II, is a big jazz fan as well as an aficionado of Harley Davidson motorcycles and is an expert grower of exotic succulent cacti plants. He seems to do everything with a passion. One quote from a longtime reader: “Richard is considered to be one of those true innate market geniuses that have simply forgotten more than most of us will ever know, except I am not certain he has forgotten anything. His daily letter is loaded with references and wisdom from the past and gives us a guide to the future.”

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