Sublime

First of all, said Templeton, beware of emotion: “Most people get led astray by emotions in investing. They get led astray by being excessively careless and optimistic when they have big profits, and by getting excessively pessimistic and too cautious when they have big losses.”

Mr Brooke’s conclusions were as difficult to predict as the weather: it was only safe to say that he would act with benevolent intentions, and that he would spend as little money as possible in carrying them out. For the most glutinously indefinite minds enclose some hard grains of habit; and a man has been seen lax about all his own interests exce

Third, said Templeton, you should diversify broadly to protect yourself from your own fallibility.

Fifth, said Templeton, the best way to find bargains is to study whichever assets have performed most dismally in the past five years, then to assess whether the cause of those woes is temporary or permanent.

Sixth, said Templeton, “One of the most important things as an investor is not to chase fads.”