TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 22 December 2023

⏱️ 86 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Clay is joined by Scott Phillips to discuss how to invest during times of max pessimism. Scott is married to and manages money with Lauren Templeton, who is Sir John Templeton’s great-niece. Sir John was one of the greatest international investors of the 20th century and the master of finding pockets of the market that were most distressed and offered the highest level of asymmetric returns. Scott Phillips is a Principal and Chief Investment Officer at Templeton and Phillips Capital Management, LLC. Mr. Phillips also serves as a Managing Member to the Templeton and Phillips Partners Fund, LLC. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro. 03:02 - What helped Sir John Templeton think independently and have the courage to stray from the crowd. 10:01 - Sir John’s lessons living through the Great Depression. 15:24 - How Scott works to teach his children the values around money that Templeton embodied. 22:20 - The investment lessons that Scott learned from studying the career of Templeton. 35:09 - The three ways to generate excess returns in the markets. 43:48 - How Scott’s fund capitalized on the market panic in March 2020. 49:25 - Areas of the market Scott deems to be significantly undervalued. 56:30 - Why US investors should consider diversifying away from the dollar. 56:48 - Scott’s current thoughts on investing in China. 01:10:27 - How Scott thinks about shorting the occasional bubble in the market. 01:18:21 - Scott’s thoughts on continuing to be optimistic about the future. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Check out Templeton & Phillips Capital Management. Scott’s books: Investing the Templeton Way, The Templeton Touch, & Buying at the Point of Maximum Pessimism. Sir John Templeton’s book: The Templeton Plan. Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected]. Related Episode:TIP585: Concentrated Value Investing w/ Shree Viswanathan or watch the video. Check out all the books mentioned and discussed in our podcast episodes here. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River AlphaSense Wise NetSuite American Express Business Gold Card Toyota Ka’Chava Babbel Glengoyne Whisky Efani Noble Gold Investments Salesforce Vanta Alto Shopify Masterclass HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to TIP.
0:03.0	On today's episode, I'm joined by Scott Phillips to discuss how to invest during times of
0:07.5	Max pessimism.
0:08.9	Scott is married to and manages money with Lauren Templeton, who is Sir John Templeton's great niece.
0:14.5	My co-host William Green in his book Richard Weiser Happier referred to Sir John Templeton
0:19.2	as probably the greatest international investor of the 20th century.
0:23.4	Sir John's life was outlined in Chapter 2 of William's book and it was titled The Williness
0:28.1	to Be Lonely, as Sir John was an amazing independent thinker who wasn't afraid to stray away from the crowd
0:34.3	and invest in markets where investors wouldn't even think for a second to touch.
0:38.4	These markets were oftentimes the most distressed and offered the highest level of asymmetric returns.
0:44.3	During this episode, Scott and I chat about what helped Sir John Templeton think independently
0:48.9	and have the courage to stray from the crowd, what Sir John learned living through the Great Depression, how
0:54.4	Scott's fund capitalized on the market panic of March 2020, areas of the market Scott
0:59.4	deems to be significantly undervalued, why U.S. investors should consider diversifying away from the dollar.
1:05.2	Scott's current thoughts on investing in China, how Scott thinks about shorting market
1:09.9	bubbles similar to Sir John during the tech bubble, Scott's thoughts on continuing to be optimistic
1:15.2	about the future during an era of Doom and Gloom headlines and so much more.
1:19.9	This was a really fun chat and I really hope you enjoy today's episode with Scott Phillips.
1:25.0	You are listening to The Investors Podcast, where we study the financial markets and read the books that
1:34.0	influence self-made billionaires the most. We keep you informed and prepared for the
1:38.7	unexpected. Welcome to the investors podcast. I'm your host Clay Fink and like I said in the intro I'm joined by Scott Phillips
1:54.2	Scott thank you for joining me on the show today it's great to be here clay looking
	...

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