RIP, Sir John Templeton

[kumquat]

John Templeton, pioneer of global investment funds, dies at 95

 

[unclemick]

One of the good guys - so long John.

heh heh heh -

 

[Dawg52]

I enjoyed his commentary over the years. I agree, he was one of the good guys.

 

[Hillbilly]

One of the true gentlemen investors.

I still get a kick of Jim Rogers once telling on CNBC (early 90's) that Sir John needed religion with some of the past historical investments he had bought on the cheap. I thought, "now that's a value investor".

I read the book "The Templeton Touch" years back and Sir John was a true LBYM guy. IIRC in the book, he and his DW had the goal of saving 50% of their paychecks and bought used furniture when starting out.

He still has family around here which is very close to where Sir John was born. IIRC his great niece has a hedge fund she runs here in town.

RIP Sir John,

Hillbilly

 

[NW-Bound]

In early 2000, at the height of the dot.com mania, although he was no longer an active manager of any fund, Templeton sold short a bunch and made $80M for himself. I guessed he didn't care for the money, but just couldn't stand it. Only if I knew what he was doing then, in order to mimic on a smaller scale ...

Then, 1-2 years ago I read a interview with Templeton. When asked of his value investing style, looking to buy low/sell high, he jested "I want to help people; when they want to sell I am the buyer, and if they want to buy I will sell to them". I got a kick out of that, remembering him shorting dotcoms. He was willing to help people to the extent of selling what he didn't have.

I saw him a few times on Rukeyser, a diminutive and pleasant gentleman. Ah, what stock would Sir John buy today?

 

[boont]

No respect

"One of the good guys - so long John."

I consider someone who renounced his citizenship in the United States because he didn't want to pay his taxes, as John Templeton did, not worthy of my respect. And he shouldn't be worthy of yours either.

It was this country that made his original wealth possible. He also has a huge tax free foundation from which he dispensed, free of cost to him, favors and influence.

I would have closed that down a long time ago.

boont

 

[harley]

I consider someone who renounced his citizenship in the United States because he didn't want to pay his taxes, as John Templeton did, not worthy of my respect. And he shouldn't be worthy of yours either.

According to the US government, there's no other reason you can renounce your citizenship. If you just want to live somewhere else and be a citizen, you must be avoiding paying US taxes.

Personally, I see what he did as a personal choice, and his admission of the reasons honorable. I don't see how not wanting to support government abuses makes you unworthy of respect. He was a very decent and spiritual person, from what I've read. He did a lot of good things for people over the years. In my opinion he's much more worthy of my respect than many a US taxpayer.

Also, the maximum tax rate in the US in 1968 was over 75%. I suspect if you were being taxed today at that rate the Bahamas would be looking pretty tempting. I know it would for me.

Harley

 

[boont]

Choice?

"I see what he did as a personal choice"

So you are OK with someone just taking the benefits that the U.S. markets give them and letting them just skip out and not pay anything?

I notice Warren Buffet and many others paid their taxes and still made billions. Templeton couldn't do that?

And your OK with him retaining a tax free foundation in the United States to do with as he wishes? All at a tax loss to everyone else, me included?

Not with my money.

b.

 

[harley]

So you are OK with someone just taking the benefits that the U.S. markets give them and letting them just skip out and not pay anything?

Many foreign investors do. I personally pay as few taxes as the guys with the guns allow me to.

I notice Warren Buffet and many others paid their taxes and still made billions. Templeton couldn't do that?

Probably could, chose not to.

Not with my money.

Personal choice again. I'm always in favor of that. I'm just saying I think John Templeton was an admirable man, and I don't think his choice of where to live and where to pay taxes changes that. My opinion is worth what it costs. You are welcome to your opinion.

Harley

 

[unclemick]

Sir John Templeton - not a dorky American provincial - when he he got a chance to step up in grade - he took it. At least that's the way the Brit's I worked with saw it.

heh heh heh - interestingly a couple of them became American citizen's in the 80's. Meanwhile - greater Kansas City is fine - provincial or no. Maybe I should ask someone from 'the Republic of Texas!' .

Not all value investor's come from Graham and Doddsville.