English 한국어 Quote by Sir John Templeton "The four most dangerous words in investing are: 'This time it's different.'" Speaker Sir John Templeton (1912-2008), a legendary investor and philanthropist One-line Summary A profound warning that ignoring historical lessons and arrogantly believing current conditions are unique leads to catastrophic losses. Meaning As Templeton says, simply hoping that bad things won't happen again is not a sound investment strategy. Pay attention to mistakes and learn from them. This quote sharply identifies a common delusion people fall into during market extremes. When prices soar, people rationalize it as a new paradigm, ignoring past crashes. Conversely, in a collapse, they despair, believing recovery is impossible. Templeton emphasizes that market cycles driven by human nature inevitably repeat, urging rational judgment based on history rather than baseless ex...