Copper Is an Amazing Thing

The last seven years up until the last one year, because emerging markets have crushed the US this year and most of last year in 16. But today, as we sit here today, real assets, things are as undervalued relative to financial assets, paper, as they have ever been in history. Copper is such an amazing thing. I just got back from China a couple weeks ago. We had our annual meeting for our private fund and I just did a webinar on kind of travel notes or trip notes. And one of the things I came away from was the scale and the scope of the growth in China is just incomprehensible to most people unless you go and visit and put your feet on