Gold News: Eric Sprott Sounds Off

Source: Shutterstock.com

Eric Sprott is a Canadian gold investor, according to popular descriptions. Yet Mr. Sprott is more than that. He’s also a walking history book for the precious metals sector.  His company, Sprott Inc, manages precious metals assets and appears on the US stock exchange as SPOXF. And did we mention he’s become a billionaire along the way?  Well, he must know something worthwhile. Today’s gold news is a case in point.

This week he spoke at the Precious Metals Investment in Symposium in Perth, giving his thoughts on metals analysts and market perception in no uncertain terms.  “No friggin’ idea” is how he characterized most precious metals analysts, pointing out that while silver is currently out of favor, traders exchange 5/8ths of the world’s annual production of silver every day.  How can that possibly mean disinterest? Mr. Sprott had other interesting things to say, which we’ll let you discover yourself in today’s featured article.  Then let us know what you think about what he says. And please, have a great weekend!

(Disclaimer: The author of this article, your friendly Gold Enthusiast, owns a few hundred shares of SPOXF he intends to keep for several years, and has recommended it to subscribers in the past. We are not recommending you buy it now, just pointing out Mr. Sprott’s comments.)

https://stockhead.com.au/resources/words-of-wisdom-from-canadian-billionaire-mining-investor-eric-sprott/

Related: Why India Expects a Gold Boom

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

Leave a Comment