Sir John Templeton

The legendary investor, Sir John Templeton, died yesterday. He had been a Rhodes Scholar at Oxford in the mid-30s, and after that he returned to the US and made his first investments, buying all the stocks under $1 which had been hit by the Depression. One of his most famous quotations is, "Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria." On that basis, the bull market can't be too far away.