Special Report
What Would Sir John Say?
In 2005, Sir John Templeton, who died last year at 95, foresaw the economic and financial disaster we are now living through.
As “annus horribilis” 2008 recedes into the background it might be timely to look back a few years and ask: Who really saw all of this coming? Was such an economic and financial disaster foreseeable? What kind of financial sage would have predicted it three or four years ago, in the middle of the “go-go” years? Well, it turns out there was such a prescient, counterintuitive person, keen of mind and generous of soul. That person himself passed away at age 95 in mid-2008. He was, Sir John Templeton, stock picker of the century, innovator, renowned philanthropist, and always a step or more ahead of the pack…far ahead.
I had the benefit of knowing Sir John and visiting him often where he lived, at Lyford Cay, the Bahamas. I also served on his board of advisors of the John Templeton Foundation. So more recently, in the throes of deepening recession, massive foreclosures, government bailouts, a global stock sell-off, indeed, near financial collapse and all around general — doom and gloom, I found myself repeatedly wondering out loud the same question: “What Would Sir John Say?” Then I remembered. I happened upon this urgent and wise “Memo” from him, written in June 2005. If only we had all taken it to heart and acted upon it then, how much better off we would be now. Read on:
Letter to the Editor View all comments (233) | Leave a comment
Related Articles
More Articles by Theodore Roosevelt Malloch
More Articles From Special Report
http://spectator.org/archives/2009/01/08/what-would-sir-john-say
Follow us:
ADVERTISEMENT
SPONSORED LINKS
FLASHBACK TO: 1995
-
Pope Culture
A man of faith in a godless age is hitting Americans where it hurts.
-
Why the GOP Does Not, Like, Totally Suck
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
-
Dames at Sea
-
In the Absence of Guns
In Britain, defending your property can get you life.
-
The Metaphysical Martini
-
Counting the Costs of Clintonism
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
-
Chuck McHagel
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
-
The Legacy of Old John and Mother Fresh-Roasted
-
It’s the Best Time of the Year
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
-
The Bush Crack-Up
Was the President done in by the economy, or by the politics of the economy?
Clip of the Day
H/T to National Review Online
ADVERTISEMENT
Drudge Ette Obama| 1.8.09 @ 6:59AM
Someone get to Obama, if he is back from vacation yet, and educate the fool. He has a once in a century opportunity to reverse a dire course we are on. Why does he keep moving to the dark edge? Why does he want to spend another trillion on idiotic projects? What compels these people? Meglomania? How can we save ourselves?
Luonne Dumak| 1.8.09 @ 7:44AM
Educate Mr .B.O.? He is already educated, in the ways of Karl Marx.
fvbvb| 5.10.10 @ 4:45AM
M2TS Converter,
M2TS to MKV Converter
Allan | 5.26.10 @ 3:20PM
Thanks for the post.. Really appreciable.
Alice Moore| 1.8.09 @ 8:42AM
Re: educating Obama. Obama, like many Liberals, have secular BELIEFS; not opinions. I think he shares Rev. Jeremiah Wright's worldview as well. Obama and his wife might like seeing white America lose their shirts.
A Sir John demonstrating logical cause and effect, let alone quantifiable facts,would be a waste of time.
Lauren Templeton | 1.8.09 @ 3:19PM
I received the same memo. Impressive thoughts!
We recently created a quarterly newsletter: The Maximum Pessimism Report. The Maximum Pessimism Report profiles value investing ideas from a contrarian’s point of view. If you would like to receive the Maximum Pessimism Report on a quarterly basis please visit our website: www.MaximumPessimism.com . Click on the newsletter tab to register for your free subscription.
“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell.” ~Sir John Templeton
Happy Bargain Hunting!
Scott CrossSr| 1.8.09 @ 4:02PM
WOW! Astute, cogent, pithy: a stunning assembly of a few ideas in just a few paragraphs that simply ring TRUTH. I'm obviously stunned. Only Norman Poderetz in the world of civilization and ethics comes to mind. Wish I had met Sir John, just once.
frankg| 1.8.09 @ 5:06PM
Yeah, obama and the libs appear certain that this is the way to go, socialist creative destruction. Massive national debt will likely be a means to an end. Remake the world in their image. And build a second tower of bable. It'll all be a failure, of course, but as they experiment on us, they'll be sure they can get it right, eventually.
Michele San Pietro| 1.8.09 @ 6:01PM
I don't see any economic or financial disaster. Is this The American Spectator or The Communist Spectator?
Sandy| 5.17.10 @ 5:05AM
Is this The American Spectator or The Communist Spectator?
Alan Brooks| 1.8.09 @ 7:40PM
Templeton said it all. what can be added?
we should have known; 1991, recession; 1996, pulling up (the best time); 1998, optimism ("overheating" economy); 1999, millennial euphoria-- not even Y2K could dampen it.
Then the dotcom downturn in 2000-- since then it's been a hell of a ride. it was all there in the '90s for us to see but we were blinded by the light.
Joseph Smith| 1.8.09 @ 9:23PM
Thank you for sharing that amazing memo from an amazing man.
Alan Brooks| 1.8.09 @ 10:06PM
when the Old School dies off we may lose a great deal more than we might think we do.
Heimo Mauser| 1.10.09 @ 4:09PM
Great old man. But there are still left some others like Warren Buffett, Marc Faber and all the Graham&Dodd;-people who really understand the economy. If we really want to know - we could ask them for advice.
Pingback| 3.6.09 @ 10:09AM
Link Roundup « What Would John Templeton Say? links to this page. Here’s an excerpt:
runescape accounts | 5.10.09 @ 8:44PM
I like your articles, you have a great writing style!
Thanks for sharing
lotro powerleveling | 6.6.09 @ 8:07PM
I am glad to talk with you and you give me great help! Thanks for that,I am wonderring if I can contact you via email when I meet problems.
Wrought Iron Furniture | 7.31.09 @ 2:36AM
I happened upon this urgent and wise "Memo" from him, written in June 2005. If only we had all taken it to heart and acted upon it then, how much better off we would be now.
magic | 8.11.09 @ 2:19PM
thanks very sesli chat
gruby | 8.27.09 @ 5:22AM
One word: Tough. Introducing the all-new Danner Nike Air Force Ones 2009 Hot boot
Cheap Nike Air Force Ones shoes is very popular in the market,
chen | 8.29.09 @ 1:23AM
If only we had all taken it to heart and acted upon it then, how much better off we would be now. Read on http://www.theaf1shoes.com/
bagsonline | 9.7.09 @ 2:44AM
brand bags online sales
robot| 9.7.09 @ 4:24AM
nike dunk
agez| 9.7.09 @ 4:25AM
led lights
bookchina| 9.7.09 @ 4:25AM
beijing hotels
FASDFAS| 9.11.09 @ 10:55PM
We had got that the many ugg boots from ugg
Australia.
ASDDSF| 9.11.09 @ 11:00PM
We had got that the many ugg boots from ugg
Australia.
links london Silver Chain | 10.21.09 @ 3:15AM
It was a very nice idea! Just wanna say thank you for the information you have shared. Just continue writing this kind of post. I will be your loyal reader. Thanks again.
lvjing288 | 10.26.09 @ 9:16PM
shoes lovers? you won't miss it: www.haishoe.com
lkjlkjklj| 11.16.09 @ 12:57AM
M2TS Video Converter,
M2TS Video Converter
jhkhjkjkjkhj| 11.17.09 @ 10:35PM
iPod Touch Converter for Mac,
DVD to iPod Touch Converter for Mac
ghd straighteners | 12.18.09 @ 6:39AM
ghd iv styler pure
gdf| 12.29.09 @ 3:59AM
iPod to Mac Transfer,
iPod to Mac Transfer
gdf| 12.29.09 @ 3:59AM
iPod to Mac Transfer,
iPod Transfer for Mac
hgfdj| 1.29.10 @ 10:10PM
FLV Converter Mac can convert FLV file to other popular video formats with perfect sound and image quality.
MOD Converter for Mac can convert between all popular video, HD video and audio formats with super fast conversion speed and high output quality.
fghgfh| 2.25.10 @ 1:45AM
DVD PAL to NTSC,
PAL DVD to NTSC
العاب طبخ | 2.25.10 @ 7:26AM
ur comment form contains errors
k cups best price | 4.16.10 @ 4:34PM
squirrel repellent
coffee k cups
Cuisinart ice cream maker | 4.16.10 @ 4:33PM
breville juice fountain elite
k cups best price
ink free shipping | 3.23.10 @ 1:44AM
Good article
Thanks
ink free shipping | 3.23.10 @ 2:44AM
The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell. Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.
top web hosting plans | 3.23.10 @ 2:44AM
good
jennifer| 3.25.10 @ 5:28AM
For you to save the music and video from iPhone to Mac, You can use iPhone to Mac Transfer application. It is powerful and will backup all of your iPhone stuff to Mac. easily. what's more withiPhone contacts Backup tool. You can backup iPhone contacts to computer eaisly.
wabgsir| 4.3.10 @ 5:38AM
Trustworthy Blu ray Ripper for Mac is the best software that allows Mac users to rip Blu ray DVD on ther Mac OS X (including snow leopard)
insulated coffee mug | 4.16.10 @ 4:31PM
| electric water kettle
touchless trash can
tory burch shoes | 11.24.10 @ 1:29AM
It was a very nice idea! Just wanna say thank you for the information you have shared. discount christian louboutinChristian Louboutin Sandals
kenedypaull | 4.20.10 @ 3:20AM
In our daily intercourse, we may easily see the word "TS" in conversion tool field, such as MPEG-2 TS Video, HD .TS Video, Video_TS, Audio_TS, TS, M2TS, MTS, etc. Can you identify them? What's your TS Format?
Generally speaking, the MPEG-2 TS or shortly TS is one of the popular video file format specially for some digital camcorder. M2TS or MTS is a Sony high definition video file type. M2TS files are raw AVCHD videos recorded mainly by Sony's camcorders. There still are some video format for digital camcorder, such as tr, tp, etc.
TS Converter is built in professional high-definition movie conversion technology. It can straight convert among various HD and SD file formats.
nbvn| 5.3.10 @ 12:12PM
DVD to iPad Converter,
MOV to iPad Converter
all | 10.25.10 @ 3:46PM
How can we save ourselves?
UKNorth | 11.3.10 @ 3:27AM
he countenance of North Face Jackets Perdana Menteri pGFP saudara, dan teknologi inovatif While greater than the North Face the Dalaia tersusun jubah Outdoor kasut sepasang Dan, Polartec, LLC pemaju of Dan, Dan, North Face UK Akan pengeluar Polartec pemasar laid to my charge to be North Face mens given to Hari untuk mengetahui pengaruh Parfum: North Face Jacket Kishtwar ufti of Dan Tahun pada North Face Clothing.
Mark | 11.3.10 @ 4:08AM
amazing man，
karyson| 12.10.10 @ 5:58AM
Splendidly done is better than well said.
ipad converter mac
دردشة يمنية | 6.10.11 @ 3:04AM
thank you
Mobile Phone Mobile Phones | 3.22.12 @ 8:11AM
Thank YoU
Mobile Phone Mobile Phones