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Remembering Legendary Investor Sir John Templeton

  
Analysis, Education, Video
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The brief video below is in appreciation of Sir John’s life and the influence he still has on Franklin Templeton Investments’ perspective and our employees.  Enjoy!

 The 29th of November marks the anniversary of what would have been Sir John Templeton’s 100th birthday, someone who helped shape my career as a portfolio manager, and who I admire greatly as a human being.  I first met the late Sir John more than three decades ago when I was working as an analyst for a broker based in Hong Kong. I traveled a few times to Nassau to make presentations to the Templeton portfolio teams, which is how he and I first became acquainted.

One day Sir John approached me to manage a new emerging markets group that he was starting and was very excited about. I jumped at the opportunity. This was a great chance to do things globally rather than just focus on Taiwan (where I was head of the country’s first investment management company at the time), and there weren’t many—if any—other portfolio managers focusing on global emerging markets. So, it was quite an opportunity!  This year is the 25th anniversary of what’s now the Templeton Emerging Markets Group. The markets certainly have changed a lot since then, but our core investment philosophy remains true to Sir John’s timeless approach. (more…)

Niederhoffer on making errors

  
  Education
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As a squash player, I was gifted. I had all the right things going for me. I practiced. I was very good with the racket, and I had tremendous anticipation. But I tended to play an errorless game by hitting a slice on my backhand, which took a lot of power off the ball. That wasn’t a disaster, but it was definitely a weakness in my game. My opponents always used to say that on a good day they could beat me, because they could hit more spectacular shots than me. But they never did. I went for about 10 years without losing a game, except to [the great Pakistani squash player] Sharif Kahn. He made about six, seven errors a game—but he also made eight or nine winners. I would make about zero errors per game but only one or two winners. He had the edge on me about 10-4, and I regret that I was never willing to accept the risky shots and confrontations, never willing to play a more error-full game.

In my market career, I took too many risks. In my squash career, I didn’t take enough.

I wish I had applied my squash methods to my speculating. I’d be a very wealthy man if I had.

Niederhoffer on making errors

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #

As a squash player, I was gifted. I had all the right things going for me. I practiced. I was very good with the racket, and I had tremendous anticipation. But I tended to play an errorless game by hitting a slice on my backhand, which took a lot of power off the ball. That wasn’t a disaster, but it was definitely a weakness in my game. My opponents always used to say that on a good day they could beat me, because they could hit more spectacular shots than me. But they never did. I went for about 10 years without losing a game, except to [the great Pakistani squash player] Sharif Kahn. He made about six, seven errors a game—but he also made eight or nine winners. I would make about zero errors per game but only one or two winners. He had the edge on me about 10-4, and I regret that I was never willing to accept the risky shots and confrontations, never willing to play a more error-full game.

In my market career, I took too many risks. In my squash career, I didn’t take enough.

I wish I had applied my squash methods to my speculating. I’d be a very wealthy man if I had.

Niederhoffer on making errors

  
  Education
#  #  #  #  #  #  #  #  #  #  #  #  #

 

As a squash player, I was gifted. I had all the right things going for me. I practiced. I was very good with the racket, and I had tremendous anticipation. But I tended to play an errorless game by hitting a slice on my backhand, which took a lot of power off the ball. That wasn’t a disaster, but it was definitely a weakness in my game. My opponents always used to say that on a good day they could beat me, because they could hit more spectacular shots than me. But they never did. I went for about 10 years without losing a game, except to [the great Pakistani squash player] Sharif Kahn. He made about six, seven errors a game—but he also made eight or nine winners. I would make about zero errors per game but only one or two winners. He had the edge on me about 10-4, and I regret that I was never willing to accept the risky shots and confrontations, never willing to play a more error-full game.

In my market career, I took too many risks. In my squash career, I didn’t take enough.

I wish I had applied my squash methods to my speculating. I’d be a very wealthy man if I had.

 

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