📖John Templeton
Search for Bargains Globally
Look for value everywhere, not just at home.
If you search worldwide, you will find more bargains and better bargains than by studying only one nation. The best values are found where others aren't looking.
🏠 Everyday Analogy
📖 Core Interpretation
In Search for Bargains Globally, John Templeton focuses on the gap between price and value. Returns come from paying less than what a business is worth, not from guessing short-term market moves.
💎 Key Insight：Global diversification finds overlooked bargains.
AI Deep Analysis
Get personalized insights and practical guidance through AI conversation
❓ Why It Matters
Ignoring valuation turns even good companies into poor investments. Overpaying compresses future returns and leaves little margin when assumptions are wrong.
🎯 How to Practice
Estimate intrinsic value with conservative assumptions, set clear buy ranges, and act only when price offers a meaningful discount with acceptable downside.
⚠️ Common Pitfalls
Confusing a low price with true cheapness
Using one metric without business context
Overly optimistic assumptions that erase margin of safety
📚 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.
See how masters handle real scenarios?
30 real investment dilemmas answered by legendary investors
Explore Scenarios →