Sir John Templeton. (AP Photo)
One of the legends in investing died Tuesday. Sir John Templeton, a pioneer in international finance and mutual funds, passed away at the age of 95.
Templeton was one of the best stock-pickers of the 20th Century, and the Templeton Growth Fund he founded in 1954 provided an annual average return of 14.5 percent at the time he sold it for $913 million in 1992. He spent his later years funding and investigating spiritual matters, creating and funding a foundation to explore science and theology.
Sir John’s 1993 publication “16 Rules for Investment Success” remains a touchstone for many seeking sound investment advice. Among his recommendations:
- Remain flexible and open-minded about types of investment.
- Invest — don’t trade or speculate.
- Diversify. In stocks and bonds, as in much else, there is safety in numbers.
- Do not be fearful or negative too often.
Templeton said his investing rationale was well summed-up by Will Rogers:
“Don’t gamble,” he said. “Buy some good stock. Hold it till it goes up…and then sell it.
If it doesn’t go up, don’t buy it!”
Don Mecoy
Business Writer