Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Roger Babson Quoted in Book: 1929

February 23, 2016 By E.J. Smith - Your Survival Guy

Here’s a reminder about the markets, emailed to me by a client from the Greatest Generation over the weekend. What she sent was not only relevant because I went to Babson College, named after Roger Babson. The quoted passage below shows that with open eyes, a heavy dose of skepticism and abundant caution, you can prepare your portfolio for hard times, or “reef your sails” as Babson says.

“Fair weather cannot always continue. The economic cycle is in progress today, as it was in the past. The Federal Reserve System has put the banks in a strong position, but it has not changed human nature. More people are borrowing and speculating today than ever in our history. (These days even student loans are used for speculation.) Sooner or later a crash is coming and it may be terrific. Wise are those investors who now get out of debt and reef their sails. This does not mean selling all you have, but it does mean paying up your loans and avoiding margin speculation. . . .

Sooner or later the stock market boom will collapse like the Florida boom. Some day the time is coming when the market will begin to slide off, sellers will exceed buyers, and paper profits will being to disappear. Then there will immediately be a stampede to save what paper profits then exist….As soon as word gets abroad that the large American investment trusts are selling, the European houses will begin to sell out their customers who are now buying in the American market. The general public will then follow with a desire to cash in, then margin accounts will be closed out, and then there may be a stampede for selling which will exceed anything that the Stock Exchange has ever witnessed.” – Roger Babson, economist, September 1929, in William K. Klingaman’s, 1929: The Year of the Great Crash

Related Posts

  • RIP Roger Enrico
  • Cato's Roger Pilon on Global Warming
  • Tory Burch's Commencement Speech at Babson College
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • RURAL RENAISSANCE: America Finds the Country Again - June 29, 2022
  • Why Work When Taxes Take It All? - June 28, 2022
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London” - June 27, 2022

Dick Young’s Must Reads

  • “The Goal”: Strong Families, Resilient Faith, Thriving Middle Class.
  • Globalism Has Made America Dependent on Foreign Countries
  • Biden Wants to Gut the Tax Benefit of 401K Plans
  • Your Sheriff Can Thwart Federal Gun Control Efforts
  • Escape From the City: You’re Going to Like What You See
  • The Fed – “Independent” and “Non Political” – Joins The Resistance
  • Hungarian Hardliner Viktor Orban Shows European Globalists the Way
  • Americans Fleeing High Tax States for Growth Corridors
  • California’s Progressive Liberals Have Created a Monster
  • CONSTITUTIONAL CARRY: Alabama Becomes 22nd Permitless Carry State

Disclosure

RSS Youngresearch.com

  • RURAL RENAISSANCE: America Finds the Country Again
  • Are Google, Amazon, and Microsoft About to Crash This Specialized Real Estate Market?
  • Why Work When Taxes Take It All?
  • Regulators’ Bungled Attempts to Cut Emissions Drove Oil Prices Higher
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
  • What Happens to Your Passwords When You Die?
  • Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More
  • Is the Great Job Boom Over?
  • Here’s Why You Need a 15-Year Retirement Investment Plan
  • Will ESG Do to Steel Prices What It Did to Gas Prices?

An Assault on America’s Central Core

Hillary Clinton Claws at Relevance by Publicly Insulting Clarence Thomas

RURAL RENAISSANCE: America Finds the Country Again

The Best Investment Strategy is Simple, Like Analog Music

RED WAVE COMING? Americans Fear the Future of Biden’s Economy

Biden’s Approval Lower Now than Trump’s Was after January 6, 2021

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives