The trend is your friend.
  • 91 years old
  • Born on July 22, 1924 in New York, New York, United States.
  • Passed away on November 21, 2015 in La Jolla, California, United States.

This memorial website was created in memory of our beloved father, brother, husband, friend and writer, Richard Lion Russell.  Richard was the founder, author and publisher of Dow Theory Letters for 57 years.  

Feel free to post a "tribute" below.

Articles and extended tributes by other financial writers can be found under the "stories" tab.  

More information can be found at, under the "about" tab. 

The video of the "Tribute to Richard Russell" event in 2009 can now be seen, in sections, under the "Gallery" tab in "Videos." The videos play best in Chrome or newer browsers.

Thank you for visiting! 

Posted by Scott Luster on 22nd July 2018
I often wonder how “The Dean” would feel about today’s risk climate; Dow Theory Sell Signal, elevated optimism and political derision unlike anything I’ve ever seen. As a fellow jazz fan, he once commented on a “comer” Alecia Keys. Now look at her! I miss his insights. My best to his family.
Posted by Nancy Powell on 22nd July 2018
Another year without Richard Russell leaves us incomplete. One of my greatest regrets is that I didn't go to the big celebration they had for him a few years before his death....and then again when he invited people to visit with him in San Diego. Alas I was living in N.C. and that was an impossibility. Richard Russell was a big part of my life and I shall be looking for him in spirit. "That which is likened unto itself is drawn".... Thank you for this heartfelt reminder. Love you Richard. Always will.
Posted by Ellen Sandles on 22nd July 2018
The debt, manipulation and partisanship has only gotten worse, not better. Really missing your insights and words of wisdom during times like these. --Ina and Ellen Sandles
Posted by Matt Murphy on 29th November 2017
I will always be grateful for Richard introducing me to the works of Emmet Fox. Thank you Richard. Those works were a life-saver and amazing. Although I respected his investment advice, this life advice was worth the subscription each year. This is the better riches that were obtained.
Posted by Robert Weir on 21st November 2017
I loved his analysis, PTI, philosophy, and war stories. I miss RR Bob W
Posted by Ellen Sandles on 22nd July 2017
Still remember certain words and warnings he gave, and wishing he was around now with his wise comments. --Ina and Ellen Sandles
Posted by Mychal Angelos on 22nd July 2017
Richard I miss your wisdom and your remarkable investment knowledge. I hope you are mentoring in some other world. Mychal P.Angelos, al long time subscriber
Posted by Tom Chilcote on 22nd July 2017
Missing all the wisdom from Richard. Wondering what he would think about the market today with it being at new highs. Miss all the WWII stories and his long-term perspective.
Posted by Povy Bigbee on 28th January 2017
The Dow Theory Letter guided us from the late 60's until Richard's death. We still remember the first issue by mail, the first by eMail and the last sad notice. By advising this family he touched ranching, logging, legislating, land restoration and farming along with the investments we own, and our gold coins. Thanks are never enough.
Posted by Ellen Sandles on 25th November 2016
We really miss you! --Ina and Ellen Sandles
Posted by Robert Weir on 21st November 2016
I always enjoyed his WW2 stories, philosophy and love of Harleys. His PTI and daily thoughts were a must read for me. I miss him Bob Weir
Posted by Nancy Powell on 21st November 2016
There is no doubt that Richard Russell is forever in my heart. I still carry a little note he wrote to me many years ago. It is beyond words to love someone we've never met....that is how I felt about Richard Russell. He was a giant not only among men, but among his peers whose knowledge could not compare to Richard's understanding not only of the markets, but about life. I loved the way he thought. When I read one of his letters before his passing, I knew he was leaving...he made a comment to his daughter, something about, "what's the point?" His zest for life over the years was inspiration. But he was getting tired and this old world misses him beyond measure. So I talk to him in the cosmos and I say, "I hope to meet you the next go around"...Love you Richard Russell
Posted by Sharon Heininger on 21st November 2016
Been a long time subscriber and wish to pay tribute to a notable and courageous person. Still appreciate the relevance of your legacy the Dow Theory Letter. Richard it is my hope that you are looking down on us with smiles!
Posted by Geoff Lewis on 28th September 2016
My grandfather, who flew in WW1, loved the markets and market theory. He made and lost a good deal but ended up a disciplined and successful investor. His son, my father, was a subscriber of Richard's DTL's from the 1960's. He too, had the 'bug' and loved the puzzle of the markets. Ever since I can recall coming of age as a baby boomer in the 1970's, Richard's thoughts and opinions were always part of the investing conversations that Dad and I delighted in and shared. When Dad was ill and passed away in April of 2015 we kept talking about the market right to the end, with much laughter and mutual enjoyment. We also marvelled at Richard's wonderful long run and ability to work so late into his life. I will miss Richard and his advice - and the pleasure he gave Dad and I in batting around his ideas, especially in those delicious times when he was a contrarian and also profitably correct! My belated condolences to his family and friends.
Posted by Tom Chilcote on 22nd July 2016
As the various markets go up and down, I wonder how Richard would interpret them. I try to always remember the markets dictate what will happen and how we need to let them tell the story instead of reading into what we think is happening. Thanks for the memories.
Posted by Sharon Heininger on 22nd July 2016
Missing your words of wisdom. As a longtime subscriber to your newsletter, Richard, I am touched by not only your wisdom, but your courage. "Lion" is an appropriate middle name for the Man who had the courage to prevail through the many adversities and milestones of life and not forget the importance of family. I wish you peace and happiness in a place where you no longer suffer.
Posted by Cap Smith on 27th April 2016
Like many of you I was a long-time reader of the Letters. Richard was a positive influence on my life in several ways. I appreciated Richard’s stories of his experiences in WWII, in part because my father shared the same experiences but would never talk of them. I benefited financially from Richard’s call of the primary trend in 2007, after I ignored him in 1999. As a scientist, I gained insights by searching for some grounding truth behind the “Dow Theory;” and although I count myself a skeptic I am better off for the journey of discovery that was prompted by Richard’s writings. Finally, I marveled at Richard’s eclectic interests, and remain inspired to match them in some small way. Thank you, Richard, for these many blessings.
Posted by Jackie Rosner on 8th April 2016
I am so deeply saddened by the news of Richard's passing. I was a subscriber to Dow Theory Letters for many years, since 2005. Although I never met Richard, I felt like I knew him from reading his letters. He was a brilliant man, with a unique insight on the markets and on life. I miss his wonderful and candid stories of growing up in New York City in the depression era, his experiences as a bombardier in WWII, and his overall common sense. With his passing, the world loses an important chapter of our history. Richard was one of a kind. The world is at a loss without him and his powerful insights. I sincerely offer my condolences to Richard's family and to the staff at Dow Theory Letters, for your heavy loss. Jackie Rosner New York City
Posted by Mike Doering on 12th January 2016
I kind of miss you, Dick. I am not sure that I was ever really ok with you, but mostly I feel like I was. Sometimes we have to take a leap.I think you and I had reached a begrudging and quiet admiration for each other in certain ways, and in so doing, I think you kind of got used to me and approved of me in certain ways. We had an honest relationship, like rivals who got used to each other. I kind of miss the dinners and just the general feeling that you were there, somewhere, in the background, lending support. You were a great provider for everyone in your family, beyond dollars and beyond time. I cannot say that in 30 years you and I ever had a long talk, but it was always cordial. I always thanked you for everything and you always said the pleasure was yours. I appreciate that, looking back now, and I appreciate all you did to help Daria and the kids, over and over again. And I do mean, over and over again. It was a pleasure, Dick. The pleasure was all mine.
Posted by Robin Ford on 6th January 2016
Richard Russell was the best 'advice giving' uncle i ever had...and he wasn't even my uncle !...big smile to you and Thank You for all the wisdom (life and financial) and levity we all got from reading your writings ~~~ Thank You also for going to the 'other side' at this very important moment in time to help us all on planet earth complete the most important divine mission of our time ~~~ Carry On In Peace ~~~
Posted by Claire Drullard on 5th January 2016
I have read Dow Theory Letters since 1970's. I e-mailed Richard this toast for his 79th birthday in 2003, and it remained valid for the rest of his life: To a brilliant man of rare integrity and wisdom, whose life has made a wonderful difference to so many for so long..a grateful and rewarded subscriber. I suggested in another e-mail that a book be compiled of his extraordinarily insightful, philosophical writings, for example on Truth, Soul Mates, Women, Einstein, Jews, human nature, and his autobiographical writings -- all written in an interesting, thought-provoking, entertaining manner. I hope that someone, perhaps a family member, might still do something like this. My condolences to all.
Posted by Stephanie Sprague on 31st December 2015
Hello - I just heard about your father's death and I am so sorry. Richard had a profound influence on my career. I first stumbled across his newsletter at the Chicago Mercantile Exchange's Library as a novice reporter for Reuters in the the 1990s, and I was hooked! I loved how clearly he could articulate his thoughts and I appreciated how he never showed off with too-clever arguments or jargon. He loved truth and beauty whether he was talking about competitive currencies or his cacti garden or his spiritual journey. I loved reading about all of it and I shall miss him. Thank you, Richard, and my condolences to his family. Stephanie
Posted by Geoff Wolterstorff on 23rd December 2015
We have a standard poodle because of of Richards recommendation. Read him every day for years. Miss his mind. My condolences to the family.
Posted by Ronald Nimmo on 22nd December 2015
I knew Richard since 1967 when I started going to encounter groups led by Richard and his wife, Connie Russell. These groups were really very eclectic in their approach with influences from many sources. Richard had experience in psychoanalysis, encounter groups, and Gestalt Therapy and he used his knowledge in these areas, combined with his own intuition, to provide insight to group members. His approach was very direct and candid, which could feel intimidating, but was very effective in piercing defense mechanisms. He had a particular interest in and understanding of issues of sexuality. When he and his wife Connie separated and Richard stopped participating in the groups, his absence left a void which no one else was able to fill. I bought gold mining shares in Aug 1973 as a result of his recommendation and doubled my money on them.
Posted by Sharon Heininger on 22nd December 2015
Thinking of you, Richard and laying a flower on your heavenly grave. You have shared your life and love of Dow Theory with us, and I am grateful for your wisdom and strength of heart. You are free now. Go in peace knowing you have created an enlightened eternity within the hearts of all you have touched.....including me. You will be missed!
Posted by Craig Wells on 21st December 2015
What a Life- What a man!! Richard Russell taught me how to invest and be a better person from his Letters. In 1968, when a junior at La Jolla high school. I would go to my dad's office to read the DTL's. My father helped Richard when he had a heart condition. Reading his letters meant the world to me as young man. My dad and I always shared our thoughts, after the knowledge put on paper by Richard. Thank you so much Richard Russell, you were loved by many.. C.W.
Posted by J W Courter on 21st December 2015
Thank you for your PTI, Dow Theory since the 1960s, the water pick, EMMETT FOX and last your personal life stories. You have been an inspiration to me. Six men cannot replace your wisdom. Thank you Darla too! JW
Posted by Scott Luster on 20th December 2015
Richard's wisdom was a great source of joy for me over the years. Both of us were also jazz fans who appreciated the same era, though I am just now 61. I thank him for sharing so openly with investors. His education was priceless. My best to those who carry on his important work. In our age of near technological worship, an intuitive and counter-intuitive approach to the financial markets is still where it's at. His interest in Hay House publishing kept him young and more importantly, vital of thought. We've lost a V.I.P.
Posted by Jim Blechinger on 18th December 2015
Richard, Blessings to you! And congratulations on your graduation to a new level! So you got into Louise Hay, Emmet Fox, etc. toward the end of your visit to the Earth plane. You started to get into the good stuff! Maybe you explored the writings of others like Ernest Holmes, Eric Butterworth, H. Emilie Cady, Charles Fillmore, Myrtle Fillmore, Ralph Waldo Emerson, Florence Scovel Shinn, Catherine Ponder and more. You began to tune into the Unity vibration, (, and their excellent publication Daily Word, (daily By now you realize you picked your parents according to a resonance that you wanted. You also know that we live forever, we just keep changing vehicles. Your vehicle for this life served you well. Best of luck in your future journeys, Richard. Will catch up with you later. Blessings, jpb
Posted by Eric Knudtson on 14th December 2015
My father was a subscriber beginning in the 1970's. I can remember him giving us advice based on what he was reading, and I read the letters myself whenever they would come to the house. I just turned 46, and I literally grew up with this guy. I am so blessed financially, and much of that comes from the lessons I learned from Richard. Richard Russell, you have had a tremendously positive impact on my life. thank you
Posted by Perrin Parkhurst on 12th December 2015
A message to Daria and the entire Russell family, Daria, we met when Anita & I were visiting our daughter's family in San Diego almost 3 years ago. You accepted our request to "stop by", meet you, say hello to Richard and visit for a brief time. That moment is indelibly inscribed in my memory. You see I've been a subscriber to DTL ever since Marty Zweig transferred all his subscribers from "Zweig Forecast" to DTL and retired. That must have been in the early '80's or so. It's been a long time. I felt a certain kinship with Richard, although we had never previously met. He and I were born in the same month, so we’re both "Leo's". We shared a similar military background - I flew bombers (B-52's) in Vietnam, and we both had an avid interest in trying to figure out the various movements of "the markets". Through my DTL subscription, Richard introduced me to technical analysis and among the most memorable quotes that I remember was the one he often repeated: "My PTI is always smarter than I am, so I must learn to follow it." ---- or words to that effect. I was deeply saddened to hear of Richard's passing - not surprised ... but deeply saddened. He was one of a kind and perhaps you saw John Mauldin's wonderful recognition of him in his 11/25 issue of Outside The Box. In a separate email, I have sent you a copy. Richard Russell was an icon in the investment and financial community. There's never been and most likely never will be another individual like him. We will remember him always. Daria, thank you very much for opening your doors to us in La Jolla on April 11, 2013 and inviting the Parkhursts in for a brief visit with you and Richard. We will forever remember the kind hospitality of both of you. Please accept both Anita's and my deepest sympathies to you, Daria, and the entire Russell family. --Perry & Anita Parkhurst (from Michigan)
Posted by Jim Keeler on 11th December 2015
Whenever there was turbulence in the markets my wife would always ask me, 'what is Richard saying'. We followed his advice and invested in gold years ago. These investments are what allowed both of our sons to pay their college educations and make down-payments on their first houses. Richard's writings also turned me on to Emmet Fox. He was, and will always will be an extended member of our family. He will be truly missed. I hope, like others, he has found peace and love as he embarks on the next steps of his soul's journey.
Posted by Blair Ward on 8th December 2015
I always look forward to 3pm to log on to read the Daily Remarks. The wisdom, advice and helping make sense of the markets was something I looked forward to over the last many years and will miss. However, Richard's words, musings and advice will stay with many of us for the rest of our lives. Sincere condolences, RIP Richard.
Posted by Karen Stygar on 8th December 2015
I have known Richard for some 35 years. During that time he was invariably a close friend, mentor and role model for me. I recall reading that a primary gender difference between humans Is that a women’s persona is primarily based upon who she was while a man’s was based upon what he did. Certainly Richard both believed and conformed to that observation. By almost any metric I would consider Richard’s life to be a full and extremely successful one. Gerry Gurtman
Posted by Pamela Walton on 6th December 2015
Thanks for taking me under your wings so many years ago Richard and for being there. I'm forever grateful for all you taught me. It was an honor and I grieve with my DTL family. I carry your spirit and memories in my heart - peace be with you my dear boss.
Posted by Tom Chilcote on 5th December 2015
I have been a subscriber since 1980. I loved the historical stories and how Richard was a bombardier on B25's. His stories were always interesting, and he had a good one when he met the Pope. We will miss his insight, wisdom, and historical perspective. Rest in Peace my friend.
Posted by Clark Smith on 4th December 2015
I heard Richard speak at SDSU in the mid 1970's. Fascinating speaker and writer. His emphasis on the importance of working with the primary trend has favorably influenced my investing and is something I have passed on to my sons. He will be missed... Thank you R.R
Posted by Bob Cederdahl on 4th December 2015
I discovered the brilliance of Richard Russell in the late ‘60’s, while attending school (yes, they actually had balance in education back then) and have subscribed to DTL since 1971. Over the years, I have inhaled his wisdom and marveled at his deep understanding of how the world turns. It was clear to me that his grasp of “what is” came through arduous hours of study & connection to the universe. Through the years, I attended several of his worthwhile appearances in relevant venues, the last of which was the tribute to Richard that John Mauldin arranged on April 4, 2009. During the brief question & answer period, I popped up and asked Richard what he would do if he were running the country, to which he stated, “I wouldn’t do a thing. I’d allow the bear market to run its course.” Thunderous applause followed demonstrating his sage mastery and loving acceptance of his life’s work. The longest term personal results of his sagacious advice struck me like lightning in 1972 when I turned to my wife and said, “We are selling our house & using proceeds to make investments he suggests.” What followed was amazing: The 4th largest unemployment rate in U.S. history, collapse of the San Diego housing market, 924% rise in the price of gold, 1,644% rise in price of silver, and wage & price controls. Bold? You bet! Savvy? Right on! Love of family, staff, clients, cacti & life? Unequivocal! This is the vision of Richard that I will always have. Rest in the peace that you truly deserve, my friend.
Posted by Louise Yamada on 3rd December 2015
All my intermittent encounters with Richard were so warm and welcoming, with a mutual respect for the work we do. I was pleased to meet Lauren in NYC and communicate with Daria on occasion, but i never had the face to face pleasure with Richard. My sympathy to all of his family, and for Richard, RIP.
Posted by Beng Bak Low on 3rd December 2015
Dear Mr Russell Thank you for being part of my life for more than one quarter of a century. Your willingness to share your wisdom, experiences, and your strength in interpreting the financial markets activities and trends have developed more excitement and enlightenment in my life. Your honesty and caring nature , and your achievement to correspond with individuals like myself of a different culture and race living across thousands of miles of oceans and territories , will forever stay in my memory of you. Wishing you a blessed and safe journey. With warm regards.
Posted by Matt Murphy on 2nd December 2015
Richard, Thank you so much for introducing me to Emmet Fox and the spiritual path. That advice was worth it's weight in gold! I was blessed to have met you through the newsletter. You are the best. :-) I miss you.
Posted by Elva Edwards on 1st December 2015
So sad to hear of Mr. Russell's passing. It isn't too often that you feel close to a person you have never met. That was one of Richard's gifts. You felt like you were his friend. I hope that now, past the veil, Richard is happy and fearless!! May he realize how many lives he touched by his honesty and vulnerability. We could all learn from him. May you, his family, know how much he gave to the world!! May he be at peace!! Love never dies!
Posted by Dave Katz on 1st December 2015
I started reading Dow Theory Letters in 2002. I don't think I've missed a letter since that time. My father had introduced me to it. I looked forward to signing on and seeing Mr. Russell's thoughts on the markets, and reading about his life, every single day. I learned so much from him. Even though I never met him, he was a mentor for me in so many ways. I learned about Louise Hay from him. He was not afraid to speak his mind, and was open about his feelings and emotions. It was so refreshing, and I've yet to find another writer in any field, who writes as if he/she is having a conversation with the reader. He had a quote about two years ago, and I'll never forget it. "I have a temper, but I'm working on it". To read this from an 89 year old person is incredible, funny and fantastic. He wrote with such honesty. He was very humble, and you don't see this from very many writers. I already miss him. RIP Mr. Russell and thanks so much for all the years of entertainment and education.
Posted by Bradley Howard on 1st December 2015
My thoughts are with Richard's family at this difficult time. I trust you will find the strength to know he is in a better place now and watching over you. I'd read a few of Richard's newsletters over the years, through other outlets who would share some of his wisdom and writings. Being a student I was very interested but could not afford it or didn't see I was old enough to act on a lot of his stuff. Finally I subscribed, about a month ago (Oct'15) and enjoyed a month of getting his wisdom every single day. I thought my investment career had arrived! Alas, when the sad news came over the website I could barely believe it! For the first time in a long time I couldn't help but just cry. I somehow felt he had even taken a place my dad had held in my heart as a mentor and wisdom giver. I just couldn't believe I had lost him after only just 'getting him'. Somewhere here there is a learning, I hope, and I look forward to seeing how Richard's "plans" he approved for the newsletter pan out - very well I am sure. Thank you to his family for keeping us all in the loop so well and sharing so much of their family and Richard with us all. Richard would be extremely proud of you all - in fact I know he is. Thank you again and God bless you. - Brad (Sydney Australia) 2nd Dec'15
Posted by Steve Ayers on 1st December 2015
I just received the news of Richard's passing. So sad for all, but what a wonderful life! My father (Billy V. Ayers) was a very long time (early 60's maybe) subscriber to Dow Theory Letters and loved reading (and sharing with me!) Richard's advice, stories, and anecdotes. We have lost a great investment guru and a great guy. My condolences to all of the family.
Posted by Keith Murphy on 30th November 2015
In the large company I worked for, Mars, the top commodities exec subscribed to it and I could read the copy, starting in the mid 80's. When I retired I got my own subscription. Richard was a smart guy who gave us advice, if taken, led to monetary gains and security. He and his daily thoughts will leave a empty space in my daily life.
Posted by Ralph Pfaff on 30th November 2015
Richard responded to at least 5 of the emails I sent him. That was very rare indeed as he said he rarely responded. You have to have a "hook" to get him to respond. This one that got him: I had met a marketing guy from Harley Davidson and told him about Richard. The guy said he would send Richard "Harley Davidson stuff" if I gave him an address. So I asked Richard if he would like it - of course he did. Richard even sent a reply: "I got the stuff". It was always interesting to get Richard's daily comments. He had a perspective and writing talent that will be missed.We have lost a friend.
Posted by Mychal Angelos on 30th November 2015
As a subscriber to Dow Theory Letters for more than 25 years, Richard became not only my investment mentor but a friend whose visits every three weeks visits I eagerly awaited. His counsels served me well in my financial outlook. I had the good fortune to meet him personally at the only conference in which he participated about five years ago near LaJolla. We spoke briefly about the markets. I specifically noticed and commented about his well-worn air force ring. He often wrote about its papal blessing and that he always wore it. This confirmed his story. Richard's focus on Emmett Fox and Louise Hayes in these last years has sparked my interest and serious study of their works. Richard Russell was a remarkable human being. I will sorely miss him. Mychal P.Angelos, Chicago
Posted by Bob Ebberson on 30th November 2015
He was such a humble man.
Posted by Mike Doering on 30th November 2015
Thanks for everything. Dick. Thanks for the dinners, for your generosity in many avenues of life and family and your sense of humor. I wish we could have had one more meal together, but that is how these things go I guess. You had a lot on your mind in your final days. Life, death, reincarnation and the market in the internet age. I hope you got it all figured out and are at peace. Son in law Mike

Leave a Tribute