Richard Russell (Dow Theory)
| Richard Russell | |
|---|---|
| Born |
Richard Lion Russell July 22, 1924 New York, New York |
| Died |
November 21, 2015 (aged 91) La Jolla, California |
| Occupation | Writer |
| Nationality | American |
| Alma mater |
Rutgers University New York University |
| Genre | Finance |
| Children |
Betsy Russell Lauren Bedford Russell |
| Website | |
|
www | |
Richard Lion Russell (July 22, 1924 – November 21, 2015)[1] was an American writer on finance.[2]
Life and career
Russell was born in New York, the son of Hortense (Lion) Russell, a novelist, and Henry Harold Russell, a civil engineer.[3][4][5] Russell educated at Rutgers and received his BA at NYU. Russell flew as a combat bombardier on B-25 Mitchell Bombers with the 12th Air Force during World War II.
He began publishing a newsletter called the Dow Theory Letters in 1958.[6] The Letters cover his views on the stock market and the precious metal markets. In addition he frequently shares episodes in his life and thoughts about the world as he sees it, following the stock market since the 1950s.
Stock analyst Robert Prechter wrote in his 1997 book: “Russell has made many exceptional market calls. He recommended gold stocks in 1960, called the top of the great bull market in stocks in 1966 and announced the end of the great bear market in December 1974.”
In 1969 Russell devised the Primary Trend Index, composed of eight market indicators that he never publicly divulged -- his own secret recipe. When his index outperformed an 89-day moving average, it was time to buy. When it underperformed the 89-day moving average, a bear market was at hand.
The Letters, published every three weeks (www.dowtheoryletters.com), cover the US stock market, foreign markets, bonds, precious metals, commodities, economics plus Russell's comments and observations and stock market philosophy. Russell also wrote daily entries (Richard's Remarks) about 4 times a week on his website. Russell started his career in finance through a series of articles in Barrons newspaper. He published a book named The Dow Theory Today in 1958, summing up his view of the Dow Theory. Russell has also been cited by Bob Prechter using the Elliott wave principle. Russell also produces chart books showing technical analysis and important events which occur each year. The chart books are further described on his website.
As of 2015, Dow Theory Letters was the longest-running service continuously written by one person in the business.[6]
One of his daughters is Lauren Bedford Russell, a jewelry designer who featured in Season 3 of the TV show The Real L Word;[7] another is actress Betsy Russell. His sister, Kate, was married to director and producer Lee R. Bobker. Russell's family was Jewish.[8]
Russell died in La Jolla, California on November 21, 2015.[3]
References
- ↑ "Richard Lion Russell". Forever Missed. Retrieved 27 November 2015.
- ↑ Harry D. Schultz; Samson Coslow (1966). A Treasury of Wall Street Wisdom (1 ed.). Investors' Press. p. 87.
- 1 2 Arnold, Laurence (23 November 2015). "Richard Russell, Publisher of Dow Theory Letters, Dies at 91". Bloomberg. Retrieved 27 November 2015.
- ↑ "Rites Scheduled for Writer Russell". Los Angeles Times. 5 October 1989. Retrieved 27 November 2015.
- ↑ "Search Results". American Jewish Archives. Retrieved 27 November 2015.
- 1 2 "Welcome to Dow Theory Letters". Dow Theory Letters. Retrieved 27 November 2015.
- ↑ "Lauren Bedford Russell". Tumblr. Retrieved 27 November 2015.
- ↑ http://www.financialsense.com/contributors/richard-russell/how-i-became-a-true-believer