After the presentation wound-up, questions were answered and a round of thanks was said, Mobius sat down to tuck into the gourmet grub waiting for him at the head table – starting with dessert. A few bites into the soufflé, Mobius traded jokes with Templeton staff and answered further questions from remaining audience members before turning his attention to the main – until he noticed something was amiss. “Where’s my dessert?” he asked in a tone one presumes is usually reserved for the unhelpful CFO of some Korean chaebol .

It all became a bit surreal, as arguably the world’s greatest emerging markets investor kept right on staring at the newly-cleared space on the tablecloth. “I was looking forward to the rest of that chocolate soufflé. I had my eye on it all the time.” This disappointment was heightened when he learned from the restaurant staff that another serving was not available, because a soufflé flattens after 15 minutes or so.

“I don’t care – bring me out a flat one.” The kitchen, however, would not comply as it was uncomfortable serving below-par food. Mobius looked a bit flat himself, and it’s easy to understand why: the seasoned bargain hunter had just let a flavoursome, attractively priced dessert slip from his grasp. At least he got to nibble a few basis points’ worth.