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War over water seen as a possibility (Continued from page 21) Turkey is already restricting water. "The ability to get water and control it will be extremely important." That kind of research is what Holowesko does on any given day. But he also has direct control, like his predecessor and mentor Sir John Templeton, over what industries in any country he believes have value. These days, while he frowns on Japan â€" whose volatile real estate market he fears â€" he looks‘at places like Hong Kong, Mexico, and industries such as Asian airlines. And he has a more optimistic view of the economic climate in both the U.S. and Canada, saying North Americans are wrong to fear developing markets. He noted that exports from North America have grown and said that will only increase as more and more markets appear. By DIANE HART Special to the Beaver It all started with a simple sailing regatta. From those humble beginnings off the coast in the Bahamas, the teenager who sailed competitively has become one of the most influential international money managers on the scene today. Now, at just 33â€"yearâ€"ofâ€"age, Mark Holowesko handles $17â€"billion in U.S. dollars as the president and director of Global Equity Research for Templeton Worldwide. How does he feel? "I feel like I‘m 80," he says, with a laugh. The tall, tanned international investment guru was in Oakville, speaking to people about the global economy at a packed St. Volodymyr Cultural Centre, Tuesday. The evening was sponsored by Midland Walwyn. And he has a more optimistic view of the economic climate in both the U.S. and Canada, saying North Americans are wrong to fear developing markets. He noted that exports from North America have grown and said that will only increase as more and more markets appear. Holowesko, whose Templeton funds are just one of four funds to be awarded the five star rating from the Chicagoâ€" based Morningstar, said he expects to see more privatizations as governments get out of the business of corporate management. Regatta led to career in finance Before his address on global equity investing, Holowesko spoke casually of the many years he has been involved in the money making business. A sailing regatta was the catalyst, he said. It allowed him, at 14, to meet a future employer involved in the financial community. "Like all good sailors, we exchanged heated words across the water and then later became very good friends. Even though he was 40 and I was just 14, we became very good friends." Holoweskoâ€"â€" whose parents are both lawyers â€" said from the time he stopped sailing competitively, he was worked exclusively in the investment community. "So "He isn‘t a very good sailor, actually," Holowesko added, with a smile. Hot new listing you just have to. see. 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I may be just 33â€"yearâ€"old, but I have so many years in this business, it feels like more. It‘s a lot of fun and always exciting." He says the biggest drawback is the amount of traveling he is required to do in his many jobs as both director of Global Equity Research for Templeton Worldwide, portfolio manager of the flagship Templeton Growth Fund, and president of Templeton, Galbraith and Hansberger Limited. Already this year, he has been away from his home in Nassau for 80 days. (Continued from page 21) The 7% tax added to the bill for fast food is "unfair," he said, after a reporter finally gave him the opportunity. "I think it should be repealed," he said, complaining that grocery stores don‘t have to collect GST on most items. "Why pick one industry? We could build double the number of restaurants and create a lot more jobs â€"â€" but we need incentive." 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