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Portfolio Holdings for Non-US Funds/Non-US Advisers - From time to time Franklin Templeton Resources Inc (FRI) and its subsidiaries, partnerships, joint ventures and related and affiliated business entities (“FTI”) may provide you with a partial listing of portfolio securities including but not limited to top contributors and detractors to portfolio performance owned by one or more non-US domiciled funds that are registered or passported with local regulatory authorities and are sponsored by FTI (each a “Fund” and together “Funds”) and any such additional information relating to the Fund(s) that may not otherwise be publicly disseminated. Such listing of portfolio securities and any other non-public information is subject to the following terms and conditions below and is herein referred to as “Holdings Information”.
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UK INSTITUTIONAL INVESTORS - IMPORTANT LEGAL INFORMATION
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I CONFIRM THAT I AM A PROFESSIONAL INVESTOR, HAVE READ THE IMPORTANT INFORMATION AND WISH TO PROCEED
IMPORTANT INFORMATION
You must read this before proceeding, as it explains both the legal and regulatory restrictions which apply to the information contained and investment products referred to within this Website.
Portfolio Holdings for Non-US Funds/Non-US Advisers - From time to time Franklin Templeton Resources Inc (FRI) and its subsidiaries, partnerships, joint ventures and related and affiliated business entities (“FTI”) may provide you with a partial listing of portfolio securities including but not limited to top contributors and detractors to portfolio performance owned by one or more non-US domiciled funds that are registered or passported with local regulatory authorities and are sponsored by FTI (each a “Fund” and together “Funds”) and any such additional information relating to the Fund(s) that may not otherwise be publicly disseminated. Such listing of portfolio securities and any other non-public information is subject to the following terms and conditions below and is herein referred to as “Holdings Information”.
Please read the Terms of Use Agreement and indicate your acceptance.
These maxims were created by Sir John Templeton, who was the founder of the Templeton investment group and worked for the company until his retirement.
He was regarded as one of the world’s wisest and most respected investors. Forbes magazine described him as “the dean of global investing” and “one of the most successful money managers in history”.
The Templeton funds still follow his investment management principles. These maxims have stood the test of time and we believe they are of enduring value to investors.
The true objective for any long-term investor is maximum total real return after taxes.
Never adopt permanently any type of asset or any selection method.
Try to stay flexible, open minded and skeptical. Long term top results are achieved only by changing from popular to unpopular the types of securities you favour and your methods of selection.
If you buy the same securities as other people, you will have the same results as other people.
It is impossible to produce a superior performance unless you do something different from the majority. To buy when others are despondently selling and to sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.
Bear markets have always been temporary. And so have bull markets.
Markets are constantly moving, with share prices going up and down in value on a regular basis. A particular industry or type of security can be popular with investors one minute but fall out of favour the next.
When any method for selecting stocks becomes popular, then switch to unpopular methods. Too many investors can spoil any methods for buying shares.
“This time is different” are among the most costly four words in market history.
Bull markets are born on pessimism, grow on scepticism, mature on optimism and die on euphoria.
The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.
Too many investors focus on outlook and trend. Therefore, more profit is made by focusing on value.
In the stock market the only way to get a bargain is to buy what most investors are selling.
To avoid having all your eggs in the wrong basket at the wrong time, every investor should diversify.
If you search world-wide, you will find more bargains and better bargains than by studying only one nation. You also gain the safety of diversification.
An investor who has all the answers doesn't even understand the questions.
Before any investment decision, please consult a financial adviser. The value of investments and any income from them can go down as well as up, and you may get back less than you invested. These maxims are intended to be of general interest only. Nothing in them should be construed as investment advice and they are subject to change without prior notice.
Investments entail risks, the value of investments can go down as well as up and investors should be aware they might not get back the full value invested.
Copyright © 2018 Franklin Templeton Investments. All Rights Reserved.