Immersed in a project over the last two weeks, I paid little attention to the markets. Naturally, I was saddened to learn of the death of Sir John Templeton, who was a prince of a man and a king among investors.
Sir John was famous for advising investors to sell at the moment of maximum optimism and buy at the point of maximum pessimism. That strategy created the fabulous long-term growth of the flagship Templeton Growth Fund, dubbed “the mountain chart” by financial advisors fond of selling that fund. Whether it turns out that Sir John died during a buying opportunity remains to be seen. Certainly the markets have been depressing to witness for anyone that’s “fully invested.�[...]