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“Dick What Do You Think About When You…”

September 24, 2024 By E.J. Smith - Your Survival Guy

By Joaquin Corbalan @ Adobe Stock

Years ago, talking with Dick about Richard C. Young’s Intelligence Report, I asked him, “Dick, what do you think about when you sit down to write?”

“Simple,” he said. “I imagine there’s a giant pile of cash sitting on my desk, and I need to get it invested.”

Talking with Dick this week about the Fed’s rate cut and the market’s response, I’m reminded of another conversation we had. “Remember,” he said. “Bonds trade like stocks, and the market sets the prices and interest rates beyond a narrow band controlled by the Fed.” Yes, the Fed controls the short end of the curve, as you can see cash yields coming down. The 10-year? Not so much. That’s Mr. Market.

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And look at the yield curve. Cash returns for Main Street are coming down.

Your Survival Guy wants you to make sure you have your bond component where it needs to be. This is no time to get cute and try to predict where interest rates are headed. Understand the most basic tenet of bonds is that you’re the creditor. You’re the bank. And with the capital structure, you get paid before common shareholders. It’s never fun being common when times get rough. Therefore, I want you to be a bond owner.

As an aside, I also would like you—not your bank—to own your home. Forget about the interest deductions and think about the peace of mind and the reward of getting the bank off your back.

As for the stock market, get some dividend religion. Be paid to be in this market. You may be surprised to see how long stocks can stay flat.

Action Line: In my conversations with you, you’re telling me about your cross-country trip. I heard about how you’re going to Dollywood while in Tennessee and that you’re on the trip with friends from high school. How nice. That’s why you have your savings: to do what you want to do when you want to do it. Because you put that pile of cash to work years ago. When you want help with your pile of cash, I’m here. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.

Originally posted on Your Survival Guy. 

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

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E.J. Smith - Your Survival Guy
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 Zildjians. 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 (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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E.J. Smith - Your Survival Guy
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