“It is all about compound interest, Brother. Tell that to your clients,” said Dick Young to me not too long ago, after explaining in our regular morning talks about how in the previous year he had made more money than any other year in his lifetime.

That’s what happens when you let compound interest perform miracles. Never once in my close to 30-years working with Dick has he ever complained to me about the market, hoping it did more for him to make his life “better.”

“Tell investors to focus on making money in their work and investing it to keep what they’ve made,” he’s always said. And still does. His message, as you might imagine, never, ever changes. It’s the same today.

I remember like it was yesterday talking with Dick during a huge market bust, how steady and calm he was, telling me, “What do investors expect when markets trade so high for so long? This is what investing is all about.”

It’s why when he wrote to you, he would refer to himself as one of the more conservative-minded investors out there. In other words, he knew how ugly markets could be, cutting his teeth in the 60s, and he was just fine with a balanced approach in up and down markets. Letting the results do the talking.

Action Line: It takes discipline to be a legendary investor. I believe you can be one. When you’re ready, let’s talk, but only when you’re serious. Email me at ejsmith@yoursurvivalguy.com

Originally posted on Your Survival Guy.