The Risks of Owning Uranium Through the ETFs

There's got to be some flows that are going to start coming in just when resources start to get love. But if you're a fundamental investor, looking at Cameco and trying to value it based on earnings or any other metric... I mean, it seems very expensive to me. And so I don't think you can plug a hundred in because a hundred is not going to be the clearing price. It's going to be a lower price.