Episode 31: Scott Phillips | Investing the Templeton Way, Part 2
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Scott Phillips is a Principal and Chief Investment Officer at Templeton and Phillips Capital Management, LLC. Mr. Phillips also serves as Managing Member to the Templeton and Phillips Partners Fund, LLC.
Before Templeton and Phillips, Scott operated Cumberland Capital, a firm providing equity research to global and emerging market hedge funds. Before Cumberland, Scott worked as a research analyst at hedge fund management company Green Cay Asset Management. Before Green Cay, he was a research associate at SunTrust Robinson Humphrey.
Scott’s other professional activities include serving on the Investment Advisory Sub-Committee and the Finance Committee for the John Templeton Foundation and the Audit Committee and Chair of the Board of Trustees for the Templeton Foundation, Inc. (Templeton Press). Scott is the author or coauthor of three investment books, including Investing the Templeton Way (McGraw Hill, 2008), Buying at the Point of Maximum Pessimism (Pearson, 2010), and coauthor to the revised edition of The Templeton Touch (Templeton Press, 2012). Scott received his B.A. from Sewanee: The University of the South.
Here’s a summary of our discussion:
1) We talked about Scott's childhood and upbringing and how it influenced his relationship with money and led him to a career in investing.
2) Scott shared his experience of spending time with Sir John Templeton and his first conversation with him.
3) We discussed the concept of maximum pessimism and how it helps in investing, which aligns with Sicart Associates' contrarian approach.
4) Scott emphasized the importance of thrift, frugality, and saving in the value investing mindset, as mentioned in his book "Investing the Templeton Way."
5) We explored Sir John's exit strategy and how he timed his sales to avoid market overheating and bubbles bursting.
6) Scott shared his thoughts on the ideal environment for cultivating the right investor traits.
7) We discussed Sir John's perspective on success, focusing on how his clients' ability to send their children to school or plan for retirement was a measure of his own success, and Scott shared his similar viewpoint.
8) Scott discussed working with his spouse, Lauren, and how they collaborate and invest together, acknowledging that successful duos in the investment profession, especially spouses, are relatively rare.
9) We delved into Sir John's use of history in his investing pursuits and how it helped him be more prepared and less surprised when history repeated itself.
10) The sense of adventure and global travel in Sir John's life was highlighted, from his travels in Europe before WW2 to his global investments.
11) We explored the evolution of an investor's approach, drawing parallels between Sir John Templeton and Warren Buffett, and Scott shared his own continuous evolution as an investor.
12) Scott reflected on the influence of Sir John in his and Lauren's careers and how they emulate his philosophy while also incorporating their unique approach.
13) We concluded by discussing Scott's personal definition of success and how he defines his own achievements.
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IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, neither my firm nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of a member of a registered investment adviser and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results.