Richardcyoung.com

Investing

Be Great at One Thing and…

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You may know Mark Knopfler, the “Sultan of Swing,” from his years fronting the rock band Dire Straits. Well he’s still pickin’ that guitar. He released another solo album this year, Tracker. Talk about being great at one thing. You don’t have to be great at just one thing to create wealth, but it definitely […]

Advice from My Father

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When I was a kid my dad would talk to me about money. It was usually unsolicited advice. You know the kind. The advice he would give was the same advice his father had given to him when my dad was a kid. It was more of a question. “When is the best time to […]

Fidelity’s Winning Edge

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You can see Fidelity’s winning edge is alive and well through its CEO Abigail Johnson. She runs it like a family business—for the long-term. It’s private, not publicly traded. She doesn’t have to answer to the whiny Wall Street analysts every quarter. When I worked at Fidelity I remember how the Johnson family had their […]

I’ve Never Been Busier

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Originally posted May 27, 2014. “I’ve never been busier”, is a phrase I often hear from retirees. We all think we’ll have tons of free time in retirement. And we do. But the hours still get filled-up with things to do. That’s why it’s crucial to plan ahead and understand some of the pitfalls out […]

Crude-Oil Stocks at Eight-Decade High!

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The Wall Street Journal’s Liam Denning lays out America’s supply glut. “Commercial crude-oil stocks in the U.S. stand at their highest level in at least eight decades. Right now, it is very profitable to take barrels, store them, and sell them forward.” “Before the spigot of oil gets shut off, the spigot of capital will […]

Hedge Fund Fraudster

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The Wall Street Journal’s Jean Eaglesham reports on Mark Malik, a purported hedge fund manager who in fact defrauded his clients of their money. The 33-year-old New Yorker ran his own hedge fund, reporting assets of $100 million and eye-popping returns that won plaudits from several services that rank hedge funds. He explained he had […]

NASDAQ Missed the Boat

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NASDAQ crossed 5,000 for the first time in 15 years. That’s a long-time to wait, especially if you’re not getting paid. Back in 2000, when it peaked, NASDAQ yielded one-tenth of the S&P 500 or 0.12%. Imagine investing for 15-years and getting paid. I’ll use a 4% yield as an example, which was hard to […]

Lawyers 1, Savers 0

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President Obama’s latest financial regulation on retirement accounts will not help savers. But it will help the lawyers. What the White House is trying to do is force savers to work with investment advisors, not brokers, when rolling over their 401(k). I’ve long been a proponent of investments advisors for my own obvious reasons—I am […]

My #1 Career Tip

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I come from a long history of salesmen in my family. My grandfather owned a successful retail clothing business in New Bedford, MA managing upwards of 50 salesmen at a time. My father was in sales beginning in his teens knocking on doors for Fuller Brush, then Electrolux and later owned a real estate brokerage. […]