Clay is joined by Scott Phillips to discuss how to invest during times of max pessimism. Scott is married to and manages money with Lauren Templeton, who is Sir John Templeton’s great-niece. Sir John was one of the greatest international investors of the 20th century and the master of finding pockets of the market that were most distressed and offered the highest level of asymmetric returns. Scott Phillips is a Principal and Chief Investment Officer at Templeton and Phillips Capital Management, LLC. Mr. Phillips also serves as a Managing Member to the Templeton and Phillips Partners Fund, LLC. IN THIS EPISODE, YOU'LL LEARN: 0:00:00 - Intro 0:00:38 - What helped Sir John Templeton think independently and have the courage to stray from the crowd. 0:08:27 - Sir John’s lessons living through the Great Depression. 0:15:08 - How Scott works to teach his children the values around money that Templeton embodied. 0:20:42 - The investment lessons that Scott learned from studying the career of Templeton. 0:33:27 - The three ways to generate excess returns in the markets. 0:44:04 - How Scott’s fund capitalized on the market panic in March 2020. 0:49:28 - Areas of the market Scott deems to be significantly undervalued. 0:54:18 - Why US investors should consider diversifying away from the dollar. 1:02:59 - Scott’s current thoughts on investing in China. 1:10:32 - How Scott thinks about shorting the occasional bubble in the market. 1:18:53 - Scott’s thoughts on continuing to be optimistic about the future. 🤝 Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Clay and the other community members: https://theinvestorspodcast.com/mastermind 🥗 Feed your body the nutrients it craves with Ka’Chava, an all-in-one, plant-based superblend made up of superfoods, greens, plant proteins, antioxidants, adaptogens, and probiotics! Get 10% off on your first order today! https://kachava.com/wsb 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODE: - Sir John Templeton w/ Lauren Templeton: https://youtu.be/zk98nSxIOi0 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/contrarian-investing-sir-john-templeton-w-scott-phillips/ 📖  BOOKS MENTIONED: - Investing the Templeton Way by Lauren Templeton & Scott Phillips: https://amzn.to/3v9WE60 - The Templeton Touch by  William Proctor & Scott Phillips: https://amzn.to/4826h5f - Buying at the Point of Maximum Pessimism by Lauren Templeton & Scott Phillips: https://amzn.to/3tdWgTq - Templeton Plan by Sir John Templeton: https://amzn.to/3tfACy9 Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙  On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/  📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.