A bona fide old timer, Russell has survived the Great Depression, the Battle of Normandy, a heart attack, a stroke, and a motorcycle accident.
If that's not enough, he still rises long before dawn as the author The Dow Theory Letter. Even at age 89, he has never missed a single issue.
Needless to say, bull market or bear, Russell has learned a few things along the way.
In fact, here are a few nuggets of this well-earned wisdom written long ago in a letter entitled "Rich Man, Poor Man."
What Russell has to say here is absolutely priceless....
Richard Russell on Compounding:"When I taught my kids about money, the first thing I taught them was the use of the "money bible.' What's the money bible? Simple, it's a volume of the compounding interest tables.
"Compounding is the royal road to riches. Compounding is the safe road, the sure road, and fortunately anybody can do it. To compound successfully you need the following: perseverance in order to keep you firmly on the savings path. You need intelligence in order to understand what you are doing and why. You need knowledge of the mathematical tables in order to comprehend the amazing rewards that will come to you if you faithfully follow the compounding road. And, of course, you need time, time to allow the power of compounding to work for you. Remember, compounding only works through time."