September 26, 2008

Special Update

Recently, I’ve heard from many of you about the turmoil in the markets. The last 12 months have been difficult for investors across the board. Just about everything is down year-to-date. You can be certain that a majority of investors are on the ledge. But I have never made reactionary investment decisions, and neither should you. I invest and advise you to invest assuming there will be turmoil in the market.

I do not support a Federal bailout. The Republican Study Committee (RSC) has drafted a letter to Secretary Paulson and Fed Chairman Ben Bernanke. Go to my homepage at www.richardcyoung.com and click the Breaking News Link to see the complete letter. I largely endorse this letter. And don’t forget, my recession watch is updated daily.

What I wrote in the last few issue of Intelligence Report is what I am doing with my money and what I continue to advise for you. That means taking a conservative approach that emphasizes fixed income, dividend-paying equities, and gold. My Financial Armadillo strategy doesn’t show a single year with a double-digit decline.

I’ll address all of the issues on your minds in more detail in the coming issue of Intelligence Report, but my strategy with respect to specific investments I’ve discussed in Intelligence Report has not changed.

Tags: Fed Chairman Ben Bernanke, federal bailout package, recession, Treasury Secretary Henry Paulson