"If you buy all the stocks selling at……" — John Templeton

If you buy all the stocks selling at or below two times… - John Templeton
"If you buy all the stocks selling at or below two times earnings, you will lose money on half of them because instead of making profits they will actually lose money, but you will only lose a dollar or so a share at most. Then others will be mediocre performers. But the remaining big winners will go up and produce fabulous results and also ensure a good overall result."

John Templeton

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