📖John Templeton
Spiritual Principles for Investing
Spiritual principles enhance investment wisdom.
Begin each meeting with a prayer. Spiritual principles applied to investing lead to greater wisdom, patience, and humility — the foundations of good investment judgment.
🏠 Everyday Analogy
📖 Core Interpretation
John Templeton advocates a repeatable process: define criteria, execute consistently, and review decisions against evidence. Process quality drives outcome consistency.
💎 Key Insight：Humility and gratitude sharpen investment judgment.
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❓ Why It Matters
Without process, there is no reliable feedback loop. Structured execution and review improve decision quality over time.
🎯 How to Practice
Run a decision loop of research, thesis, execution, and post-mortem; document assumptions and update playbooks with evidence, not hindsight bias.
⚠️ Common Pitfalls
Having opinions without execution criteria
Reviewing outcomes but not decisions
Abandoning rules during volatility spikes
📚 Case Studies
1
Postwar Japan Recovery (1949)
Templeton bought deeply depressed Japanese stocks amid post-WWII devastation, when many investors avoided the market due to political and economic uncertainty.
✨ Outcome：Massive multi-decade gains as Japan industrialized and export growth surged, validating global value investing beyond the U.S.
2
Early Investment in South Korea (1962)
Templeton invested in obscure South Korean companies when the country was poor, politically unstable, and largely ignored by foreign investors.
✨ Outcome：Substantial returns as South Korea transformed into an export-driven Asian tiger, reinforcing his case for broad global diversification.
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