Sir John's Principle of Maximum Pessimism

“The right question is: Where is the outlook most miserable?” Templeton calls this
approach to investing “the principle of maximum pessimism.” Others might call it contrarianism. He explains it this way: “In almost every activity of normal life people try to go where the
outlook is best. You look for a job in an industry with a good future, or build a factory where the prospects are best. But my contention is if you’re selecting publicly traded investment, you
have to do the opposite.You’re trying to buy a share at the lowest possible price in relation to what that corporation is worth. And there’s only one reason a share goes to a bargain price: Because other people are selling. There is no other reason. To get a bargain price, you’ve got to look for where the public is most frightened and pessimistic.” - Sir John Templeton to FORBES.