40% of their business is Chinese. You know, most people's investments in China are much greater than they realize, even if their portfolio manager says, oh, we don't invest in China. Oh, heck, you do invest in China. You know, you go down to your portfolio and you look at all the investments that these companies have and all the revenue and income that's generated in China, most people would be shocked. So my direct investment in China is about 4.5%, but my indirect investment in China is probably closer to 15%. So I love that you brought that up. I mean, first of all, how confident are you in that 15% number? Because as we saw, even the US government, even the military, didn't understand how vulnerable its supply chains were. They had to cancel or halt production of the F-35 fighter at some point because they discovered that a magnet, a critical magnet was being produced in China. How confident are you about the vulnerabilities of the companies that you invest in, given how (52/57)
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