A nuance of that is if the "latest" you read was back in the vB3 and vB4 days ... in which case clicking the thread title takes you all the way back to posting #1.
Once you've visited a thread in these "new days" the pointers and links sync, and clicking the thread title does take you to the "last read" entry. If you look at your browser's display of a title's link, you'll see it has the syntax: "99999/unread", with 99999 being the thread number.
--dick (why can't i ever remember the new software's name? Xenforce? Xenforum? Xenfore? Xcentric? Xcrement?)