By Sean Michael Cummings
Ronald Read led a humble life. He didn't bother with nice clothes. In fact, his appearance was so shabby that a pitying stranger once bought him a sandwich.
But by the time he died, he was worth almost $8 million.
His secret was long-term investing.
After serving in WWII, Read came back to the U.S. to work blue-collar jobs as a gas-station attendant and a janitor at JCPenney. And along the way, he put money into the stock market.
By buying great companies and holding them for the long term, Read amassed a seven-figure fortune. And he's a local legend in his hometown of Brattleboro, Vermont. The Brattleboro Memorial Hospital built a $23 million extension in his honor.
Sometimes, growing your wealth is as simple as owning great businesses over time. But Ronald Read's story isn't our only evidence...
As I'll explain today, we have more than half a century of market history to prove it.