YouSaid · the spoken record

Lauren Templeton

lines on the record: 65
first: 2022-06-26
most recent: 2022-06-26
sittings or episodes: 1
sources: podcast

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“To control your emotions and go against the crowd, even though he had, I think, a lot of impulse control, a lot of future-mindedness, I would say he still was careful to think about the way he structured his day and life so that he wouldn't be subject to his emotions. And I one time asked him about managing the money in the Bahamas. And this is interesting to note because Warren Buffett manages money in Omaha, Nebraska. I asked him about the idea of managing money in the Bahamas. And he said, you know, my returns actually improved when I moved here. And I said, well, why do you think that is? And he said, well, I've thought about it. And I think it's because I get the Wall Street Journal a few days later than everyone else. And you're like, why would that?”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“He just built a lot of discipline into his life. And he did believe in thought control. So he once told me that when he encountered a negative thought, he banished the thought into the nothingness that it was. And so I think he was very careful with what he thought about, how he organized his day because as an investor, it's very hard to control your emotions. We are not hardwired to be good investors. And that comes from evolution. I mean, we are all descendants of human beings with acutely tuned amygdalas. That is why we are here today. And some of those traits don't translate very well into good investment returns. So it's hard.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Right, the ability to delay gratification, and that's highly correlated with success, and a lot of other positive things. I mean, that's all about really impulse control. And he had a lot of impulse control. It's very disciplined, but he also believed in mind control, positive thinking. He was very careful in the way he structured his life, his day, the way he built his habits. He would have loved the book atomic habits. I mean, I think that's something he would have responded to because he had built his life that way. He lived in a community in Nassau, Bahamas called Lyford Key. This is where he moved later in life. And he was definitely within a mile of his office. He had a tendency to go in seven days a week. He worked out at a certain hour every day.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Okay, well, how has brain worked? I'm not sure. I will tell you that he was the most disciplined person that I have ever met. And so he was very good at impulse control. And I do think there is a genetic component there. I don't know if you've ever looked at the marshmallow tests coming out of Stanford University in the 1970s. I actually made my kids take that test.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Sure. I mean, people who live through the Great Depression, I think just have that built into their nature. They can't let go of that. And as that generation departs us, part of that thriftiness does too. And it will be a lesson that a new generation will learn, maybe this one, and become a nation of savers again.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“You doing that? And he said, I'm saving for the opportunities that I know will present themselves. So in that never stopped in his life. So, I mean, I guess it's up to the individual, really, what they value most. I think it's worth spending money on travel, right? Because it expands your mind. You learn so much about the world and experiences that no one can take away from you. Spending on education, things like that are areas where we definitely loosen the purse strings in our family. Because I think travel and education are very important.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, what do they call it? Penny wise and pound foolish, right? And it is a constant debate in my family. My parents are older. They're in their 70s. They are very much from Uncle John's school where they are really tight. They save everything. They drive old automobiles and wear old clothes and they don't like to spend anything. And I keep on encouraging both of my parents, you know, what are you saving it for? You know, I'm financially independent. You should enjoy this. Don't worry about me. Go spend some money. And they just don't want to do it. So I don't know. They're definitely is a balance. I think when I would talk to John Templeton about saving, he always said he saved 50% of everything he made. I really think he saved much more than that. And I would say why are”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“But then he also invested in some individual companies, and one of which was Kia Motors. He made a fortune on Kia Motors stock, and he would not go by himself, IKEA automobile. He went to the dealership, he came back without a car, and his assistant said, where's your car? And he said, those are too expensive for me. So there he was, a multi-billionaire who had made a fortune off of Kia Motors, and he wasn't going to buy a Kia automobile when he really needed a new automobile because he thought they were just too expensive. So that is something that he has passed along in our family. The propensity towards thrift, saving, finding a bargain being pervasive quality that I think most Templetons have, whether you're buying a home, a stock. Whatever. It's”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Via a mutual fund offering run by Paul Matthews, he invested in Paul Matthews Korea fund, which had launched in 1997 and was the worst performing mutual fund on record that year. He invested then, and it was the top performing mutual fund on record by 1999, which says a lot because it was beating even the high-flying tech funds. So that was, I mean, I think he had like a $267% return in that fund over two years. So he invested in South Korea doing that.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Very thrifty. And this is something they have passed down to everyone in our family. And we take this to almost an art form. It becomes a game in our family who can acquire an asset for the best price. And there's some really wonderful stories about Sir John and his thriftiness over the years. One of my favorites is he'd gone into South Korea on the hills of the Asian financial crisis. And he did so.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Of things, and one day he had been trading cotton futures on the New York Mercantile Exchange or either the New Orleans cotton exchange. And he actually came home to Sir John and my grandfather and said that they had struck it rich, that the boys would never work a day in their life. Their children would never work a day in their life. And obviously here I am working. So something went wrong. He came in several weeks later and said they had lost it all and gone bust. Late in his life, his father borrowed from Sir John and my grandfather to support his habits. And so I think witnessing this really taught John Templeton a lot about the ethereal nature of paper wealth created by the financial markets. And both John Templeton and my grandfather were avid savers. They were very”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Buyers. But when stocks get more expensive, it brings in even more buyers. So Sir John had a great way of phrasing this. He said higher prices lead to higher prices, lower prices lead to still lower prices to buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude but yields the greatest investment returns or something like that. So that really I feel like shaped him as a child. But my grant, not all the lessons learned from my great-grandfather were great lessons. So he was very entrepreneurial and kind of a hit at rich guy. He was involved in many businesses from his law practice. He also sold insurance. He owned a cotton gin. He did a variety.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“In the mid to late 1920s. And when they did go bankrupt, they would be auctioned off on the town square. So Sir John's father, my great-grandfather, would witness these auctions from his law office, and if he saw that the auction produced no bidders, he would walk down the stairs, walk across the street, and buy the farm for cents on the dollar. By the mid-1920s, he had accumulated about six farms and 20 other homes. And I think it was Sir John witnessing his father doing this over and over again that really helped developed his investment philosophy. You know, it's always been one of the biggest ironies in the stock market. It still exists today, that when stocks go on sale or become discounted in value, it produces even fewer.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“A little bit. Anyway, Winchester, Tennessee is about an hour southeast of Nashville. It's a really small town. Sir John was born and raised there. He was the youngest child. My grandfather was his older brother. And I do think they had a very unique upbringing for the rural South. First, his parents were both highly educated, and his father was a lawyer and had an office that faced the town square in Winchester, Tennessee. So think Country Town with a courthouse in the middle of the square in his office was across the street. So during the 1920s, farming was not a very lucrative business. And I think on average, maybe it would bring in about $200 per year. So farms often went bankrupt.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT
“Sir John Templeton was raised in a small town in Tennessee called Winchester, Tennessee. Now, Trey, I know that you have lived in Nashville or you have some familiarity with your research.”
2022-06-26 · We Study Billionaires · TIP460: Investing the Sir John Templeton Way w/ Lauren Templeton · IDENTIFIED FROM THE TRANSCRIPT