Harry D. Schultz

Harry Donald Schultz (born 1923) is an American former investment adviser and author who published The International Harry Schultz Letter for 45 years. He learned to trade while serving in the United States army in Shanghai and on his return to the US bought and sold small newspapers, 13 in all. He spent the rest of his career advising on investments and writing books and his eponymous newsletter. He has been closely associated with libertarian causes.

Harry Schultz was born in 1923 and raised in Milwaukee, United States. He served in the United States Army during the Second World War when he was stationed in Shanghai and began to trade shares on the . He discovered that he could make money even in a foreign environment: "I bought and sold silk, bank shares, currency and made a small fortune (very small) in a high inflation economy. I also bought and sold gold coins and bars."

As a child he had produced a newspaper for his family, neighbours and school using a typewriter and later a mimeograph machine. In the army, he read voraciously and planned to buy a real newspaper on his discharge with the money he had made from trading. He managed to accumulate enough for a down-payment on a weekly newspaper in Palm Springs, California, which he turned into a daily and sold to The Sun. He owned a further twelve newspapers during his involvement with that business, specialising in buying small papers, improving them and selling them on.

Schultz published The International Harry Schultz Letter for 45 years, starting around 1963. It was known for its somewhat folksy and eccentric tone. Readers were said by The Times in 1968 to include Enoch Powell and Richard Nixon, while New Internationalist magazine in 1981 named Margaret Thatcher, Sir Keith Joseph, South African finance minister Owen Horwood and Saudi Arabian oil minister Ahmed Zaki Yamani. In addition to his newsletter, Schultz is known for his advice on investing in bear markets which he first wrote about in his 1964 book, Bear markets: how to survive and make money in them. He expanded on his ideas of profiting from adversity in his 1972 book, Panics & crashes and how you can make money out of them. His 1964 book was reprinted and updated in 2002 as Bear market investing strategies.

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