Sir John Templeton Dead at 95

One of the true giants has passed:

Sir John Templeton, who has died aged 95, was a legend in the world of fund management and invested much of his multi-million pound fortune in promoting spiritual and religious progress.
Sir John Templeton
Templeton boasted one of the longest and most successful track records on Wall Street. From its foundation in 1954, his Templeton Growth Fund grew at an astonishing rate of nearly 16 per cent a year until Templeton’s retirement in 1992, making it the top performing growth fund in the second half of the 20th century.
A $100,000 stake invested in 1954 would, with distributions reinvested, would have grown to $55 million in 1999.
The Templeton formula was simple in theory, though not easily achieved in practice.
He looked for bargains — shares selling well below their asset values due to temporary circumstances — and would usually hold on to them for five years or more until they reached what he considered to be their true worth.
It was an approach that required rigorous research and determination not to be swayed by the fashions of the moment.

Posted by Eddy Elfenbein on July 8th, 2008 at 1:01 pm

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.