Richard C. Young & Co., Ltd. is a Naples, FL and Newport, RI based financial advisory firm. We have been ranked by Barron’s as one of the top independent financial advisors in the nation for the last eight consecutive years. We manage portfolios for individuals, families, and small businesses throughout the United States.
Today, investors are facing an unusually uncertain environment. We have a polarizing U.S. election whose outcome could have profound implications for the country and financial markets. The U.S. economy is far from robust and, in our estimation, is in the late stages of the cycle. Geopolitically, there is a broadening quagmire in the Middle East, coupled with increased hostilities with Russia, China, and now the Philippines.
Jack Bogle did not invent the mutual fund, but he certainly turned the industry on its back. In 1974 Bogle founded the Vanguard Group based on his conviction that an investment company should first and foremost manage in a way that serves the best interest of the individual and seeks to avoid conflicts of interest. Bogle spearheaded changes within the mutual fund industry, allowing investors the option of creating a diversified portfolio without the traditional sales loads, 12b-1 fees, and high annual expense ratios that dominated the industry.
One of the most profitable investing moves of 2016 involved no research, no trading and actually no work at all. While it now seems like a distant memory, you may recall the nosedive that stocks took to begin the year. Just 10 trading days into January, U.S. stock markets recorded their worst start to a year on record. Making matters worse, the bad days did not end quickly. Stocks continued lower into the first part of February. An Economistarticle asked, “Is this really 2008 all over again?”
In a surprise vote on June 23, the British decided by a 52% to 48% margin to leave the European Union (EU). The vote caught many investors and pundits off-guard. Financial markets cratered on the news, with U.K. stocks falling 16%, euro-area shares dropping 13%, and stocks in the U.S. slipping 5.3%. The British pound fell over 13%, and government bond yields hit new lows. In the U.S., 10-year Treasury yields dropped to 1.36%—the lowest level in history.
NAPLES, FL
5150 Tamiami Trail North, Suite 400
Naples, FL 34103
Phone: (888) 456-5444 Fax: (239) 213-0770
NEWPORT, RI
98 William Street
Newport, RI 02840
Phone: (800) 843-7273 Fax: (401) 849-0002
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