. July 9, 2008 SouthAmerica: I just started reading the Financial Times (UK) then I was in shock when I came across the obituary of John Marks Templeton. This is a very sad day for me it is like losing a close member of my own family. Mr. Templeton was a great man and probably the smartest man I had the chance to meet in my entire life - and I had the chance to meet a lot of smart people of the years - but John Templeton always had a very special spot. He was one of the most ethical human beings that I had the pleasure to meet. I met Mr. Templeton in 1969 when I started working for Templeton Dobrow and Vance in Englewood, NJ - at that time I was just a young man but Mr. Templeton was interested in learning about Brazil and we did chat about that subject a number of times. After Mr. Templeton moved to the Bahamas I still saw him a number of times over the years and kept a close friendship with a few fellows who were close friends of Mr. Templeton and they used to spend their vacations with Mr. Templeton at his house in the Bahamas. Mr. Templeton was our Guru and our Master and we worshiped the old man. Mr. Templeton was in a class by himself and he was outstanding in every way. All I can say is that the world has lost a giant - It was a privilege and an honor to know such a great man, and I will miss Mr. Templeton. Ricardo C. Amaral .
I didn't mean "rest in peace" literally. You're picking a fight. My point is simply that Templeton was a valuable, contributing member of society and a stock picking genius. He has done more for society and the world than probably the vast majority of people on this board and is a great example of trying to use your money for good. Why not give the guy the kudos he deserves instead of using the thread as a stump-thumping pulpit? Doesn't it drive you crazy when us Christians bring up weird things in the middle of a conversation or thread just to try to push across our point? Well, right now, you're doing the same thing...
Bad logic. It only proves that some prayers don't work. You and I both know that all the cancer wards on planet earth do not prove all prayers don't work. How could you even prove all prayers don't work? You can't and I think you know that...
Thx for the nice eulogy. Question for you: any idea what Mark Mobius is like? I've always admired him but don't really know that much about him. Were he and Templeton pretty close?
The WSJ article about him today said that he was a naturalized British citizen. As far as taxation goes, that would be like jumping out of the frying pan and into the fire wouldn't it? Aren't UK taxes higher than the USA?
He lived in the Bahamas with no income taxes. "There is no income or corporate tax and no capital gains or inheritance tax in The Bahamas." Really great and ethical guy to give up US citizenship to avoid taxes.
. July 9, 2008 SouthAmerica: Reply to ShoeshineBoy Mr. Templeton hand-picked Mark Mobius about 20 years ago. Mr. Templeton knew that Mr. Mobius would follow his philosophy and donât forget John Templeton always had the Midas touch â everything that he touched turned into gold. John Templeton used to receive a ton of materials from all kinds of analysts in Wall Street but he just read a hand full of people that he trusted their savvy and knowledge. Mark Mobius had to have done something that caught the attention of Mr. Templeton and then he hired Mr. Mobius. I donât follow Mr. Mobius performance but many years ago he was performing at the level that would please Mr. Templeton. I can tell you that their thinking were in the same wavelength. After having such a close relation with Mr. Templeton for about 40 years I can tell you one thing â I donât think that he would be pleased with the performance of Ben Bernanke at the Fed. Mr. Templeton must be going bananas in the last year mainly when Ben Bernanke opened the Feds wallet to bailout Bear Sterns. He would not approve this type of welfare to the richest people in the US. He also extended the welfare to the other major investment banks of Wall Street. Ben Bernanke turned himself into a Santa Claus for Wall Street and these days it is always Christmas time at the Fed. By doing that Ben Bernanke placed an artificial floor on Wall Street and prevented the stock market from making the proper correction â probably a decline of another 30 percent from todaysâ closing levels. When the market has these types of declines or corrections then the bargain hunters such as Mr. Templeton pick up the gold nuggets. Basically Ben Bernanke has been and he said he would continue to interfere with the workings of a free market system. And people are going to wonder later on about the new distortions that he is creating down the road â including hyperinflation. I donât know why people are dumping Fannie and Freddie since Ben Bernake and the Fed will pick up the tab for any losses incurred by these institutions. The Fed has become the Toxic waste dump of Wall Street. .