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Buying at the Point of Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture

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Buying at the Point of Maximum Pessimism: Six Value Investing Trends from China to Oil to Agriculture


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Learn 6 key trends shaping global markets and how to use value investing method to yield profits and minimize risk

  • A guide for value investing in global markets by the principal of Lauren Templeton Capital Management, the world's long-time leader in value investing.
  • Six new trends that will powerfully impact your investments and what to do about them.
  • Techniques for finding profitable opportunities when other investors are running headlong in the wrong direction.
  • Description

    • Copyright 2010
    • Edition: 1st
    • Book
    • ISBN-10: 0-13-703849-6
    • ISBN-13: 978-0-13-703849-7

    “Sir John’s ability to comprehend complex concepts and distill these into money-making ideas for his investors was legendary. With this book, Scott Phillips extends Sir John Templeton’s crystal clear vision to some of tomorrow’s most interesting and powerful money-making opportunities. All readers should be prepared to learn–and profit!”

    Jeffrey Everett, Founding Partner, Everkey Global Partners

    “The brilliant global investing strategy of Sir John Templeton finds new life in Scott Phillips’ Buying at the Point of Maximum Pessimism. With the U.S. in trouble, savvy international investing is a must, and this book shows you the best places to put your money for serious profits ahead.”

    Christopher Ruddy, CEO, Newsmax Media, Inc.

    “In Buying at the Point of Maximum Pessimism, Scott Phillips delivers a road map to investment success traveled by the very few but guaranteed to lead you to enormous profits. The book offers a delightful, common sense approach to investing that unfortunately is not so common.”

    Robert P. Miles, author, The Warren Buffett CEO

    "If you want to mitigate your risks while leveraging your long-term sources for growth, read every page of this book and invest accordingly. In ten or twenty years you will look back and be thankful you did.”  

    Theodore Roosevelt Malloch, Ph.D., Research Professor, Yale University and CEO, The Roosevelt Group

    Value Investing for the 2010s! Earn Consistent Long-Term Profits in a Radically New Market Environment

    Legendary value investor Sir John Templeton knew the secret of earning consistent profits: In times of maximum pessimism, recognize what your long-term opportunities are–and be ready to pounce. This book shows you where today’s long-term opportunities are, so you can earn outsized profits when the “herd” is running away in terror.

    Lauren Templeton Capital Management’s Scott Phillips identifies six powerful value investing themes for the 2010s: areas of long-term growth that become even more compelling in volatile or bear markets. This is value investing for the 2010s: a set of emerging opportunities you can profit from, while other investors are selling in fear!

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    Buying at the Point of Maximum Pessimism: A Rare Opportunity

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    Download the sample pages (includes Chapter 11 and Index)

    Table of Contents

    Foreword . . . xiii

    Acknowledgments . . . xv

    About the Author . . . xvi

    Introduction . . . 1

    Chapter 1: The Fed Sentences the Consumer to Debtor’s Prison . . .7

    An Economic Recovery Built on Borrowed Money . . . 8

    The Fed’s Potion of Low Rates and Rising Home Prices Becomes an Economic Elixir . . . 14

    A Chicken in Every Pot? Try a Hummer in Every Garage. . . 15

    The Three Cs of Credit Give Way to Financial Innovation . . . 19

    Chapter 2: The Biggest Gamblers Go “All In” on the Housing Bet . . .35

    Trouble in Paradise . . . 37

    The Canary Died Unheard from the Boardrooms, Yachts, and Golf Courses . . . 39

    The Credit Bubble Draws in Every Last Bull . . . 46

    Chapter 3: Financial Chaos . . . 53

    The Crisis Moves from Subprime to Prime Time . . . 61

    Chapter 4: Quis Custodiet Ipsos Custodes? . . . 71

    An Alphabet Soup of Rescue Acronyms Will Save Us. . . 72

    Strategy Number Two: Spend Our Way Out of a Spending Problem . . . 75

    The Vestigial Effects of the Crisis Come into Focus . . . 79

    The Visible Hand Is Coming into View, and It’s All Thumbs . . . 92

    Chapter 5: A New Landscape for Investors . . . 101

    Entrepreneurialism Is Thriving in Many Key Emerging Markets. . . . 105

    Crisis Is an Opportunity for Those in a Position to Seize the Opportunity. . . 111

    The New Landscape . . . 113

    Chapter 6: China: Ready for Prime Time . . . 117

    A Culture Well Suited for Capitalism. . . 119

    Putting Those Rainy-Day Savings to Work in the Worst Storm of the Past Century . . . 122

    Urbanization Is the Growth Engine . . . 126

    The Path Toward Consumerism and the Domestic Economy. . . 128

    Prime-Time Products . . . 135

    Chapter 7: Proteins and Agribusiness: Billions and Billions to Be Served . . .141

    Where’s the Beef (and Chicken and Pork, Too)? . . . 142

    Eating Good in the Global Neighborhood . . . 146

    Brazil Has the Competitive Advantages in Agribusiness. . . 152

    Strong Fundamentals Across the Value Chain. . .161

    Chapter 8: Formula for Success: Rise Early, Work Hard, Strike Oil . . .165

    In the Long Term, Healthy Demand Meets Higher Cost Supply. . . 170

    Market Distortions from the Fed’s Loose Credit and Easy Money . . . 179

    Seeking Alternatives in the Hydrocarbon Space. . . 191

    Chapter 9: An All-Too-Common Tragedy . . . 201

    Human Behavior Is Timeless . . . 202

    Strong Demand Underscores the Overexploitation . . . 206

    A Tragedy Leads to an Opportunity . . . 210

    Chapter 10: What Happens When 700 Million Students Want Extra Help?. . .217

    Spending on Education Takes Precedence in Many Emerging-Market Households. . . 220

    The Role of Technology and Innovation . . . 223

    10 Million Students Applying for 6 Million Spots in College–No Pressure . . . 225

    Continuing Education. . . 227

    Financial Crisis Portends Continued Growth in the Emerging-Market Education Services. . . 230

    Education Plays and Their Fundamental Dynamics . . . 234

    Chapter 11: A Rare Opportunity . . . 241

    Demand for Global Technology Remains Strong. . . 242

    It’s Not Easy Being Green . . . 245

    There Is Oil in the Middle East; There Are Rare Earths in China. . . 249

    Index . . . 257


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