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Meade -- General Counsel and Chief Legal Officer Good morning, everyone. active fixed income mutualfunds. We celebrated the 25th anniversary of BlackRock becoming a publiccompany, and we closed our acquisition of Global Infrastructure Partners. Kapito, and General Counsel Christopher J. Christopher J.
I remember telling myself, why would anyone invest in mutualfunds when you can buy an ETF instead? And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutualfunds and I was pretty convinced that that number was to increase significantly.
Andy Cross: David, ETFs, mutualfunds, they operate by very strict rules on how they allocate their capital. In this case, for actively managed funds that are rebalancing every quarter, which as you mentioned, at the end of the quarter, beginning next quarter, they do selling and buying to match up the stocks and the positions.
You want an independent… But he says, I have been on 20 publiccompany corporate boards, and I’ve seen a lot of them operate, and the independent directors in many cases are the least independent. Nothing within this content constitutes legal investment or compliance advice.
RITHOLTZ: So were you — in the early days, it was mutualfunds it was SMAs, what were you guys doing? That new name of the company became Franklin Templeton. So it was Franklin, along with mutualfund pioneer Sir John Templeton. You have half the number of publiccompanies that you had in 2000.
Barry Ritholtz : This week on the podcast, not only do I have an extra special guest, but I have a mutualfund Legends Fidelity Low price stock fund manager, Joel Tillinghast has been there pretty much since inception in 1989. But by 1986 they had huge legal problems. So I took that. 00:51:38 [Speaker Changed] Yeah.
00:13:04 [Speaker Changed] So the most of what APAR focuses on our private, our public markets, stocks, bonds, mutualfunds, ETFs. And like why, why not make it as close as possible to doing something in the public markets to do something in private markets? I have a lot of strong opinions about private markets, right?
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