Also, I'm not sure why everyone talks about the additional risk...

Also, I'm not sure why everyone talks about the additional risk with CLO because many of their operations are in countries such as the Phillipines, Indonesia etc...Personally, I think this is an advantage.

This is where the future great mines and infrastructure projects are going to be - not in the so called low risk places. So it's good that CLO already operates in these markets.

Now, when commodity prices start rising again (possibly triggered by a strong gold price) things should start happening for Clough. Of course, if the world economy is about to experience deflation, this scenario is less certain. Commodity prices fall in periods of deflation. (See commodity prices between 1929-32.) J.