“Sir John Templeton. I pioneered global investing when most Americans wouldn't look past Wall Street. I bought a hundred stocks during the panic of 1939 — every single one trading below a dollar — and turned that into one of the greatest track records in history. Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. I buy at maximum pessimism.”

Buy at the point of maximum pessimism. The best bargains are found where nobody else is looking — in markets that others have written off. Global diversification and a long time horizon are the keys to exceptional returns.