Eric Sprott spells it out clearly
- Thread starter danmand
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The best advice in that entire article, in relation to the typical TERB member, comes in at the very, very last line of the fine print. Learn those five words; commit them to heart gentlemen, as those five words, said at the correct moment, may save you from a major legal/financial/personal mess.
You'll thank me someday.......
You'll thank me someday.......
What the...??
Got specific references for the "scam" comment? Very wealthy, smart people I know consider E Sprott perhaps the 2nd best adviser in Canada (and honest, and ethical)itmeans said:
Ho-Hum....old news.
If anyone's interested, there's an excellent treatment of this whole subject in this week's edition of The Economist magazine; a bit tedious to read, but very comprehensive. The article does make the rather worrying point that it's unlikely that further does of liquidity will cure a condition brought about by excessive liquidity and credit creation in the first place.
Another scary account of this mess can be read in John Markman's article on the 'thestreet.com' website. The mathematician who worked out alot of the math that made collateralized debt obligations possible, predicts that we're just beginning a period of a grand unwinding of debt...he's quite gloomy about the whole thing. On the other hand, just because he's a mathematical genius, doesn't mean he knows anything about finance.
P.S. the S&P Financial sub index is meaningfully underperforming the broader market....that's a very bad sign. Financials usually are harbingers of what's to come, so that ain't good.
If anyone's interested, there's an excellent treatment of this whole subject in this week's edition of The Economist magazine; a bit tedious to read, but very comprehensive. The article does make the rather worrying point that it's unlikely that further does of liquidity will cure a condition brought about by excessive liquidity and credit creation in the first place.
Another scary account of this mess can be read in John Markman's article on the 'thestreet.com' website. The mathematician who worked out alot of the math that made collateralized debt obligations possible, predicts that we're just beginning a period of a grand unwinding of debt...he's quite gloomy about the whole thing. On the other hand, just because he's a mathematical genius, doesn't mean he knows anything about finance.
P.S. the S&P Financial sub index is meaningfully underperforming the broader market....that's a very bad sign. Financials usually are harbingers of what's to come, so that ain't good.
For the last 5 years he has run one of the most successful hedge funds around and is well respected. I think the penny stock comment refers, somewhat unfairly, to Sprott securities a small brokerage house which he headed but sold his interest in a long time ago.itmeans said:
I didn't say he promoted scams but he certainly got his start and made his money (i.e. his initial stake) in the penny stockstrain said:He's made a lot more with the hedge fund and Sprott was a legitimate mid-market and small cap broker and did not promote scams ( apart from the ones everyone else promoted like Bre-X).
Oooh, someone has been abused!
Penny does not = scam, though I grant there can be a lot of sleazy stuff in that area. Again- got any facts?
Tom Stanley of Resolute Growth Funds is #1. Been with him decades. He has high regard for Sprott.red said:
Penny does not = scam, though I grant there can be a lot of sleazy stuff in that area. Again- got any facts?
Its not luck..
).
.. brains, hard work and sticking to key investment principles. He isnt hiding any numbers (?). Go to the web site and its all there. New fund is still open, but you must be a "sophisticated" investor with $150k. (For sure, not the way he wanted itwonkyknee said:
).