if he's just playing the druckenmiller game of buying shares of g.l.d. then you know as we all know we don't know gold all he just own some certificates and you know it's not really physical metal if he's actually buying physical metal he's a genius. i've said all along i mean if the russians the chinese and all of these sovereign governments that whole dollar reserves are converting their dollar reserves into some gold why should their body else so good to hear would welcome sam to the party and hopefully he's a subscriber to my site oh yeah i'm sure is but thinking into his thesis about this you know he points out that during this bear market over the last four or five years they mining industry has quit basically they're not mining a new goal they supply of gold is dried up meanwhile the supply is still booming as you point out central banks are big buyers of gold china and russia are by and by the hundreds of tons and you know now are seeing these billionaires move into the class sam zell is not the only billionaire who's suggested that they'd like t

give away over the years if we do it -- >> i think a lot of people are like you i don't expect druckenmiller. >> i had a conversation with him a month ago and i missed it so much talk about what happens. >> you think in terms of size, it's helpful for the enemy >> i've said it's inversely related. as you get bigger it's harder to outperform but markets are big there's plenty of liquidity. cap is five times as much as it was when i started 20 years ago so i believe i can put up good numbers with the size of the assets >> any investments you just love right now? >>. >> honestly i think technology is in the middle of a 20-year run like the market is construction materials look interesting. a bunch of things. >> what about the business mo l modeler mode er for hedge funds. the largest hedge funds are getting more diversified, fees, of course, have come down. are those concerning as you embark on relaunching your hedge funds? >> no, it's a little like back to the future. we are going to be -- this is me running investors' money and being focused on that. this is not about clipping coupons and man