CFA Magazine reminded me today of Sir John Templeton's death in July at the ripe age of 95. As many may know, John was a legend and pioneer in the field of international investments. He was also knighted in part for creating one of the world's richest rewards, the $1 million Templeton Prize which "honors a living person who has made an exceptional contribution to affirming life's spiritual dimension, whether through insight, discovery, or practical works." John gave away approximately $40 million per year through his foundation.
In a discussion with CFA Magazine in 2003, John made the following comment:
"I have learned that the great opportunities are the places that have been neglected, where other people are not looking. Also, I have learned that making wealth is not the answer to human progress or happiness. Spiritual progress is the answer."
This is a great reminder in times like these, given from a very wise man who lived and experienced a great deal over his 95 years. I will be making very similar observations in some prepared remarks I will be giving to an industry group tonight and several others in the coming weeks. While I am only 40 years old, my personal experiences have taught me the very same thing.
I couldn't agree more with Sir John Marks Templeton and am grateful for his example in an industry that is often bereft of them.