Investing the Templeton Way | Lauren Templeton | Talks at Google
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- čas přidán 5. 03. 2017
- This talk covered the subjects of value investing and behavioral finance through the lens of a practitioner. Ms. Templeton spoke on the subject with an eye towards both beginners and practitioners, while sharing valuable lessons learned from her great-uncle, Sir John Templeton.
Lauren C. Templeton is the founder and president of Templeton & Phillips Capital Management, LLC; a value investing boutique located in Chattanooga, Tennessee. Ms. Templeton received a B.A. in Economics from the University of the South. She is the founder and former president of the Southeastern Hedge Fund Association, Inc. based in Atlanta, Georgia.
Ms. Templeton currently serves the on the Board of Trustees at the Baylor School, Board of Advisors for The Beacon Center of Tennessee and the Atlas Board of Overseers. Ms. Templeton is also an active member of Rotary International. She serves on the investment committee of Chattanooga Rotary Club 103 and the investment committee of The Rotary Foundation. In the past, Ms. Templeton has served as President of the Atlanta Hedge Fund Roundtable and as the Director of the Galtere Institute: Finance for the Future Initiative at the University of Tennessee at Chattanooga. Additionally, Ms. Templeton has been a member of the Board of Directors of the Memorial Hospital Foundation, a member of the Finance Advisory Board of the University of Tennessee Chattanooga, and also served on the Chattanooga Area Chamber of Commerce Board of Directors. Lauren is the great niece of Sir John M. Templeton and is a current member of the John M. Templeton Foundation. The John Templeton Foundation was established in 1987 by renowned international investor, Sir John Templeton. Lauren Templeton began investing as a child under the heavy influence of her father as well as her late great-uncle, Sir John Templeton. Professionally speaking, Lauren began her career working with managed portfolios and investments in 1998, beginning as a junior associate at the financial advisor Homrich and Berg and later the hedge fund management company New Providence Advisors both of Atlanta. In 2001, Lauren launched her own hedge fund management company which dedicates its efforts to the practice of value investing across the global markets using the same methods learned from her great-uncle, Sir John Templeton. Ms. Templeton is also the co-author of, Investing the Templeton Way: The Market Beating Strategies of Value Investing Legendary Bargain Hunter, 2007, McGraw Hill, which has been translated into nine languages. Lauren lives in Chattanooga, with her husband, Scott Phillips, who is a portfolio manager of the Global Maximum Pessimism Fund and author of the investing book, Buying at the Point Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture, 2010, FT Press, and co-author to the revised edition of The Templeton Touch, 2012, Templeton Press. Lauren and Scott produce a monthly investment report titled the Maximum Pessimism Report. Lauren and Scott enjoy spending their free time with their two daughters.
Get the book here: goo.gl/Msw2VK - Jak na to + styl
This is amazing! Thank u for such a wonderful presentation
LaurenTempleton, thanks for your excellent lecture. Very much appreciated
This is one of the most excellent talk on investing. Talking about few things, which we miss as an investor and the psychology of the money/investing and its relation with human emotions.
Amazing talk
Gotta love her Southern drawl.. ❤
She is cute and smart. Allah🌹❣
Excellent. I didn't know much about the Templeton family, but this was fascinating from a historical perspective and also packed with timeless wisdom. I really liked the concept of "the doctrine of the extra ounce". This talk should be required watching for all young investors (and many older ones too !)
I spent a lot of time with John Templeton! He was an amazing man!
Laura is the BOSS! So insightful and full of great advice. Thank you for this wonderful talk.
Great talk. Id never heard of the “templetons” even though I read a lot about investing
SPX was trading around ~2,300 in March '17 when she gave the talk - the PEAK came almost 3 years later in Feb '20 at 3300 - you'd missed ~40% gain, had you stopped buying stocks. PATIENCE IS the KEY.
Smart advice. Templeton and Buffett are two people who have truly help to shape my views on investing.
This is fantastic, and her assessment of companies being overstretched and overvalued was very prescient.
“Just buy your own companies stock.” Would’ve been first but she’s really wonderful and insightful. Enjoined the conversation.
The Humble Approach is one of the best books ever written. Love John Templeton.
I can't even express how much Ben Graham/John Templeton/Warren Buffett/Charlie Munger have changed my life. Changed my views on money and more importantly views on life.
Try to express it so we can learn too thank you :)
Read Poor Charlie Munger's Almanac...
Any investing in s and p 500?
did their methods also change your bank account?
As an immigrants guys these guys are phenomenal. Full of wisdom
Amazing wholesome family. God bless the Templeton family.
All these good points about her ancestors and then the awful conclusions - watching this in march 2021
Excellent, this is how intelligent speech is heard.
a great video about buying the dip that never actually mentions "buying the dip"!
Brilliant. She is a very confident speaker with good info to share
definitely one of the most important videos i've seen... thank you Google for uploading such wisdom, for free...
Excellent speech!!!!
I have learned a lot listening to you. Very smart lady. Thank you.
Great speaker!
so much insightful information. Thank you
Saw this video like 5 times in the last one year. Amazing talk & thanks for sharing some of the best info.
I read her book. It was very insightful: Invest like Templeton.
If I ever have a daughter I hope she grows up to be like her
I just had a daughter this week
@@fezariolet us know how it goes 🍻
Wonderful talk.
This is spectacular prescription, thank you!!!!
I just watched this video, 1 year after I started my trading activities. And I LOVE THE PRINCIPAL mentioned here by Lauren Templeton. I have been doing value investing for the past 4 months and have seen more results and better mental state compared to previous times. Being a trader has changed the way I think and the way I corelate and aware about the cycle and karma.
The improved mental state is most satisfying in the long run
great talk.
The marshmallow test analogy really hits home. Thank you!
One of best to hear
Thank You Lauren,....God Bless You.
Amazing talk
Great talk, thanks for publishing this Google!
Wonderful insight
Good lecture...! Thank you, Pretty Lady...!
'Trouble is opportunity' sounds like something Littlefinger said.. LOL
Hell, it's mild compared to Buffett's "be greedy when others are fearful" or even Rothschild's "buy when there's blood in the streets."
Price is what u Pay , Value is what u get ....
Sir John Templeton should be proud of such successor.
Maybe Sir John Templeton is proud. But on the same time I have the feeling Sir John was even smarter than her! :D
btw Google, screw the numbers the views and the likes, these talks are awesome...!
Great talk Lauren!
Lauren is an extremely smart lady.
hot , every hot
Yeah ---- she is extremely attractive too.
I think Sir John was even smarter! xD
Amazing woman, love the accent!
Great idea re short list of securities. Great talk, I got a lot of good from it.
Great talk! Respect the wisdom shared.
Smart, Beautiful, and Graceful.
Beauty with Brain ..
MRs.
great insights and composure! what the hell have I been doing with my time playing video games....
love her accent(I'm foreign)...
Smart and beautiful
Beautiful and a great accent!!! 😀😍😙
If we continue talk about crash than crash won’t come... as everyone already protected.
26:12 this chart is essential.
Great talk!
Great presentation.
She is great, I love same 2012 presentation as well. I just wanted to add, that there always be psychological edge available.
wow!!! she is beautiful.
voice fry
Really. If she was broke and a single mother would she be beautiful to you.
I really enjoyed your presentation. Thank you very much for time, and sharing your knowledge and gold nuggets. Any further suggestions for books or additiinal knowledge?
Such a lovely person her uncle would be proud
Easy on the eyes.
Please add English Auto- Subtitled ! Thank You
💎
"Doctrine of the Extra Ounce"
"Patience"
2-20 funds.. where do I sign up for my own fund to cash in on juicy commissions? My fund will have a 1000 year reputation: dating back 1018!
Beauty is the costliest asset one can have
Fair fax
Beauty with brains !
👌👌
Sure. Just give them money and let them decide when when to time the market. This is common sense stuff, but her point about common investor decision making is the key.
She fails to mention that index funds will beat the market and don't require a firm.
Buffett said it best the main quality u need as an investor is temperament.
Lauren is cute and smart. She is awesome
2x saves time
Buying low and selling high sounds great and we all know how difficult that can be. Beyond that I was surprised at some of the bad data and misunderstandings presented. The comments on the 4% rule were just plain wrong. An average return of 2% over the inflation rate is all that is needed to cover the 4% rule. The numbers presented were a "real" rate of 5.6% plus coverage for inflation thus bringing the required return to 8-8.5%. Scary, but not true.
Read Bengen's original paper ("Determining Withdrawal Rates Using Historic Data"). On the very first page, he describes a hypothetical financial adviser who makes the exact same mistake you're making. He then goes on to explain why the adviser is wrong. TLDR : the market doesn't return an "average rate" every year. It swings up and down wildly, and if you're making regular withdrawals to fund your retirement then there is a very real chance of losing everything. Hence the concept of the safe withdrawal rate based on historic market data, with the emphasis on "safe".
Translation: "You all look like you have a good stash ... give it to me, I'll look after it for you ... wink wink"
exactly show me return performance lady i don't want to her about your dead grand daddy and his second story office and his cotton gin and his bags of cotton lol scam marketing red lip stick exposed arms and legs just look at those legs boys lol sex sells
im in love
I beg of you - watch this video at .75 speed. And grab a vodka/tonic. You're welcome. =]
Why drink?
@@satrandhawadtm8115 slow you down and slow it down.
@Cristiano Lopes ok thats weird
Can someone tell the name of the guy interviewing Ms Templeton?
@MasterStryfe Apu?
S&P is over 2900 today.
tldr: buy low sell high
*actually* buy low sell high
What happens most often is the contrary: buy high sell low! xD
Everyone knows that but the problem is knowing what is low and what is high.
She was saying take the mean p/e as an indicator and buy lower than that. If you are the selling type, sell at a price higher than the mean.
So very true. But, the market always make people buy high and sell low. This talk pretty much tells you why?
Those of us in crypto , 60% or 200% in 2 years .. we are here for 10000% and in 6 months 😀
If you are really good in value investing then PE and LBOs are the thing for you
"I workout daily" ... *cameraman showing the physique* - precise proof. Fit lady with a sharp mind.
6:18 current situation.
The 4% rule works for the numbers presented, the verbal calculation is inaccurate. At historic inflation, your blended rate of return needs to 1% over inflation. At very high inflation, the blended return needs to be only 0.7% above inflation. If the SP500 yields 5.6% at the time of the talk and 2.4% bonds yield, even a 50-50 would be fine at 4% blended return, as it would be 1% over a 3% inflation and hence suffice.
I would add that it works even at say high inflation of 10%. During periods of high inflation, the earnings yield of 5.6% would be supplemented by nominal earnings growth rate of 10% proportionate to inflation (due to price rises, with real earnings staying almost same over the long term), leading to 15.6% total earnings return. But there is capital loss as increasing interest rates would collapse asset prices, but in the long run asset prices would recover as times normalize.
Very beautiful woman
What is 'reaching for marshmellows'? Companies with too much debt, not funding growth, is scary.
short-term profit/loss taking instead of taking a long-term holding of stocks
SWEETSY!
Daniel Young WATEs Wanker.
No wonder I have never heard of the Templeton prize, there's no such thing as an advancement in religion.
Wage worker good at controlling emotion?
Let's buy Facebook ya'll is down 25%
So did you buy Facebook?😜
Did Warren Buffet and John Templeton know each other??
definitely, buffett talked abt templeton
The irony of a value investor speaking at Google lol
PE/G only slightly > 1 at the moment. So not that implausible.
Holy vocal fry.
This is a criticism I only hear about female voices. Ira Glass even did an episode on vocal fry and up-speak with female reporters and no one on the program even mentioned his intense vocal fry.
She looks like an older Adria Rae.
Sounds like this Sir John was a pretty heartless man. In olden days, vulturous traders would buy farms from desperate farmers 30 cents on the dollar to make a killing later. Oh wait...
Sorry guys but she is a salesperson.
Bengali
Don't confuse genius with ah bull market!
If you are not good at controlling emotions, you will never be a (good) investor!
Stock prices are 14 x volatile than the underlying fundamental value!
this didn't age well, SP500 return averaged 20% per year since this video.
Yup. Smartest decision is to always be investing rain or shine. No one can predict the market.
CAPE ratios are an excellent predictor of long term returns, where "long term" means decades not just 4-5 years. Anyone buying the SP500 at these levels is likely to be disappointed. Remember what happened to Japan.