NO EUPHORIA IN SIGHT Sir John Templeton, a pioneer in the mutual fund industry, is notable to many of us in the investment business because of his legendary success in the stock market over the last half of the twentieth century. In 1999, Money Magazine named him “arguably the greatest global stock picker of the century”. Of interest to those of us in Middle Tennessee is his heritage, having been born in Winchester, Tennessee in beautiful Franklin County. His investment wisdom is widely respected, and the following is one of his most famous quotes: “Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria.” From my experience, if you had to pick one i
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