Richard Russell, 91, a stock market guru whose weekly Dow Theory Letters newsletter became legendary on Wall Street, has died in La Jolla, his family announced Tuesday.
A native New Yorker, Russell began writing the newsletter in 1958. He based his analysis on the the investing principles of Charles Dow, founder of The Wall Street Journal.
Russell became widely known in the investment community through a serious of articles for Barron’s over a 30-year period.
Many of his stock market calls were prescient: the top of the 1960s bull market and the bottom of the 1972-74 bear market. He was also one of the first to recommend gold stocks.
“The stock market was a living, breathing member of the family,” his children recalled in a release to the media. “It kept him obsessed and was his pulse, his reason for living.”
Russell flew as a combat bombardier on B-25 Mitchell bombers during World War II and later earned a bachelor’s degree at New York University. He moved with his family moved to San Diego in 1961 and in 1967 to La Jolla.
Dow Theory Letters will continue to be written and published.