Remebering Sir John Templeton
Tuesday, July 08, 2008PAUL KANGAS: And finally tonight, we say goodbye to a friend of NIGHTLY BUSINESS REPORT and one of my mentors, Sir John Templeton. He passed away today at the age of 95 near his home in the Bahamas. Sir John was a pioneer in the field of global fund investing and a huge philanthropist. During one of my last interviews with Sir John in 1999, he offered this advice, still as good today as it was almost a decade ago.
SIR JOHN TEMPLETON: So many people think they're wiser than they are, and they take risks. They buy on borrowed money, not thinking they're ever going to be called to pay it back. So, I believe the most dangerous thing you can do, business-wise, is to be excessively optimistic and use borrowed money or base your whole career on any one concept or asset. GHARIB: Paul, I know you interviewed Sir John many times. What impressed you the most about him?
KANGAS: His sincerity, his desire to educate, and his plain old, good old, down-to-earth common sense. And not only that, but I can't think of a single person in modern times that has had such a productive career as Sir John Templeton. We have lost a giant.
GHARIB: I think you're certainly right about that.
