Tough times helped many commodities traders become lean and mean through consolidation, mergers and cost cutting. All that excess supply has been sopped up.

I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.

My basic advise is don't lose money

When things go wrong on a macroeconomic level, it's almost always this way. People find someone to blame, whether it's blacks, whites, Christians, Jews, Muslims-whoever.

I think this is also a great time to invest in private equity, helping companies grow from the ground up.

Commodities tend to zig when the equity markets zag.

The first loss is the best loss.