This Time Is Different According to Sir John Marks Templeton, the four most dangerous words for an investor are “this time is different.” Mr. Templeton grew up in Winchester, TN during the roaring 1920s before attending Yale University and graduating in 1934. He was an avid and skilled poker player - earning enough money to help finance his education. Sir John’s probability skills were not wasted on the pure folly of card games as he studied under Benjamin Graham (known as the “father” of value investing) before becoming a CFA Charterholder. If Ben Graham was the father of value investing, then Sir John may have been known as the father of international investing. He founded the Templeton Growth Fund in 1954 and positioned it to be one of the first mutual funds that invested into Japan and other international markets during the 1960s. His fund returned a compound annual growth rate of 15% over a 38 year period - providing positive real (inflation-adjusted) returns during each 5-year ro