John Templeton Quotes

On a given day, you can have market fluctuations where prices fluctuate far more than the underlying economic value of the unit.

Markets shouldn't be moving in a straight line.

A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.

There's a certain degree of speculation that goes into valuations. In so far as the market supports a valuation, everyone who gets a great one deserves it, but they should also be cautious because that speculation is temporary. I saw Yahoo go from $100 billion to $10 billion. It's not a long-term measure.

… there is little rhyme or reason to the going up or coming down of the [Stock] Market

Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.

Nothing ever surprises me about the market.

It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.

What turned me on then, and turns me on even today - and when the time comes from me to retire from management I think I'd still be interested in it - is that everything that happens in the world affects the price of securities.

The one thing about markets is that they do not give any advance notice. If they did, they would be arbitraged away.

We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices

Markets are unforgiving, and sometimes they move for reasons we can't possibly foresee.

When valuation confidence falls, it means that stock markets are perceived as overpriced.

I myself saw Yahoo become a $100 billion company and then become a $10 billion company, so you always have to look at valuations with a grain of salt and understand it is a point-in-time measure.

Every now and then, markets behave like schoolchildren. They overreact, they run around like crazy.

I was about thirteen when I started thinking about the stock market. My dad helped me a little bit. I'd see it in the 'Santa Barbara News-Press.' These prices would change every day - what was that all about?

I think any statement about stock prices is always suspect unless it's made by Warren Buffett.

There is little room for complacency, and it is important to guard against sporadic volatility in financial markets.

The relative illiquidity of small-company shares - which often contributes to their being undervalued - also increases their volatility.

The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.

The Stock Market is designed to transfer money from the Active to the Patient.

To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.

Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values

The concept of paying one-hundred-and-something times earnings for any company for me is just anathema. Having said that, at the end of the day, your job is to buy what goes up and to sell what goes down so really who gives a damn about PE's?

I think Stockman is an interesting sort of amalgam.