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John Templeton
Summary
Sir John Marks Templeton (29 November 1912 – 8 July 2008) was an American-born British investor, banker, fund manager, and philanthropist. In 1954, he entered the mutual fund market and created the Templeton Growth Fund, which averaged growth over 15% per year for 38 years. A pioneer of emerging market investing in the 1960s, Money magazine named him "arguably the greatest global stock picker of the century" in 1999.
John Marks Templeton was born in the town of Winchester, Tennessee, and attended Yale University, where he was an assistant business manager for campus humor magazine Yale Record and was selected for membership in the Elihu society. He financed his tuition with a scholarship, odd jobs and winnings from playing poker, a game at which he excelled. He graduated in 1934 near the top of his class. He attended Balliol College in Oxford University as a Rhodes Scholar and earned an M.A. in law. He was a CFA charterholder and was a student of the "father of value investing", Benjamin Graham.
In 1939, Templeton, during the Depression of the 1930s, had his broker purchase 100 shares of each NYSE-listed company which was then selling for less than $1 a share () (104 companies, 34 in bankruptcy, in 1939), later making many times the money back when US industry picked up as a result of World War II. According to Templeton, he called his broker the day World War II began and instructed him to make the purchases. This stratagem helped make him a wealthy man.
Templeton became a billionaire by pioneering the use of globally diversified mutual funds. His Templeton Growth Fund, Ltd. (investment fund), established in 1954, was among the first to invest in Japan in the middle of the 1960s. Templeton also created funds specifically in certain industries such as nuclear energy, chemicals, and electronics. By 1959, Templeton went public, with five funds and more than 66 million dollars under management.
In 2006 he was listed in a seven-way tie for 129th place on The Sunday Timess "Rich List".
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