which is, what led you to start your own fund in 2000? What was your vision then? What were you hoping to accomplish with that? I started off with Templeton and it grew very rapidly. It turns out in 1992, Sir John sold the business. I became a director of the firm, the head of global equities, but my main job was running the global equity division and managing the mutual funds that was assigned to me. Then in 1992, Sir John sold the business to Franklin, became Franklin Templeton. They were fantastic and they grew the firm rapidly. The funds that I was managing grew extremely rapidly. We had about 19 billion of assets when we sold to Franklin. As my funds grew, I gave them up to other people to manage. By 2000, I was running the Templeton foreign fund, which is about 15 billion, and Templeton growth fund, which is about the same size. The group that I was managing, we had about another 40 or 50 billion. It seemed like I was becoming a manager of people as opposed to a manager of (15/57)
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