Throughout his life as an investor, John Marks Templeton shared his perspective through memorable maxims. The following is a sampling of some of his investment maxims:
Successful investing is only common sense. Each system for investing will eventually become obsolete. (November 1984)
The time to buy a stock is when the short-term owners have finished selling and the time to sell as tock is often when short-term owners have finished their buying. (July 1987)
Bull markets are born on pessimism, grow on skeptisism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy and sell. (February 1994)
“This time is different” are among the most costly four words in market history. (March 1994)
Search for bargains. You should try to buy that particular investment whose market price is lowest in relation to your estimate of its true value. (May 1952)
I never ask if the market is going to go up or down, because I don’t know, and besides it doesn’t matter. I search nation after nation for stocks, asking: “Where is the one that is lowest priced in relation to what I believe it’s worth?” (November 1978)
The only investors who shouldn’t diversify are those who are right 100 percent of the time. (The Templeton Touch)
If you are diversified among different forms of wealth, nations, and industries, you’ll be safe in the long-run. (May 1995)
Experience teaches us that one of the most common errors in selecting stocks for purchase, or for sale, is the tendency to emphasize only the most obvious factor; namely the temporary outlook for sales and profits of the company. (1946)
The only certainty about the future is the fact that it will be different from the past. (May 1957)
For those properly prepared in advance, a bear market in stocks is not a calamity but an opportunity. (May 1962)
