by Jeff Berwick, Dollar Vigilante:
The financial newsletter business lost one of its greats on November 21st. Richard Russell, who founded the Dow Theory Letters in 1958 passed away amongst family in his home.
Dow Theory Letters was the longest investment letter in the industry continuously written by the same person.
For those who didn’t know or know of Richard, you really missed out. He was one of my favorite analysts, writers and thinkers.
The Dow Theory Letters started out in the 1950s with an ad in the Wall Street Journal that received a big response.
After that, every ten days to three weeks he would mail out a newsletter. Yes, mail! In today’s age it is hard to imagine the difficulty of writing that regularly to subscribers around the world.
In 1991, Dow Theory Letters began publishing online, which allowed Richard to write daily. This he did until about a week before his passing.
I remember the first time I got to meet Richard in person. It was at a Casey Research conference in which he was a speaker about four years ago. Being a longtime subscriber, and with him rarely (if ever) being photographed in public or on things like Youtube or TV, I had this image of what he looked like from the one postage stamp sized, black & white photo of him which was always on his website or newsletter (pictured right).
Then, a frail old man walked onto the stage and I was shocked. I turned to David Galland, who used to run Casey Research back then and said, “Wow, some of these speakers need to update their photos!”
David responded to me that he had recently had a stroke, or some similar health issue.
I was shocked he even came to speak in his condition. But, as he began to speak into the microphone it was clear that while his body was withering his mind was still as sharp as a tack. And he continued to give an impassioned speech full of all his usual wit and wisdom.
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