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@VF: The institutional Kopernik International fund gets 5 stars from M*; your $1M minimum buys you 36% cash and 60% basic materials (read gold and oil). The fund went to the top of the class in 2016, then promptly did a complete turn-around in 2017. Now it seems there will be an investor class of shares. I ain't tempted. Strangely, the Kopernik Global does not hold oodles of cash and has a pretty middling record.
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