Wishing you were still on vacation soaking up the sun? Well, maybe it’s time to think about telecommuting, just as John Templeton did in the 1960s, when he moved to The Bahamas while continuing his legendary investment career.
Long before the Internet made telecommuting a viable option at the workplace, Templeton decided to move 1,000 miles away from Wall Street, and it proved to be a sound business decision. As Templeton recalls in Robert L. Herrmann’s biography Sir John Templeton, the move shed new light on the investment world:
With the advantage of hindsight now, I think there are two reasons for this success. One is that if you’re going to produce a better record than other people, you must not buy the same things as other people. If you’re going to have a superior record, you have to do something different from what the other security analysts are doing. And when you’re a thousand miles away from Wall Street in a different nation, it’s easier to be independent and buy the things that other people are selling, and sell the things that other people are buying. So that independence has proved to be a valuable help in our long-range performance.
Then, the other factor is that so much of my time in New York was taken up with administration and in serving hundreds of clients I didn’t have the time for the study and researach that are essential for a chartered financial analyst. And that was the area in which God had given me some talents. So now in the Bahamas I had more time to search for the best bargains.