“This time it’s different!”
How many times have you heard this from a stock market expert or from your friend who has made big money from stocks in a short time?
These words are commonly used in the stock markets to explain that stock prices can touch the sky, or touch the earth’s crust depending on whether they are rising or falling. But if you were to listen to the Sir John Templeton, these are four most dangerous words in investing – “This time it’s different.”
John Templeton was a legendary investor and mutual fund pioneer. Templeton became a billionaire by pioneering the use of globally diversified mutual funds. There’s another interesting fact about Sir John Templeton which is relatively less known. Both Warren Buffett and Templeton were students of Benjamin Graham albeit at different times. Templeton studied with Graham when he taught at New York University in the late Thirties, and Buffett at Columbia University in the early Fifties.
<!–more–>
Want to Read More? This content is exclusive for members of Value Investing Almanack. Login to read if you are a member. Else, click here to subscribe.
- Spotlight: Big ideas from Value Investing and why applying them in your investment decision making will be a great deal
- InvestorInsights: Interviews with experienced value investors, learners, and deep thinkers
- StockTalk: Thorough analysis of business models of companies (without any recommendations)
- Behaviouronomics: Deep analysis of human behaviour and how it impacts investment decision making
- BookWorm: Reviews of the best books on Value Investing and related subjects
- Free Course – Financial Statement Analysis for Smart People (otherwise priced at Rs 5,900)
- Archives: Instant access to our huge archive from the past three years