Yes, I think he makes a lot of money in the PM market through his fund management and other business ventures.
Yes, Eric loves silver, he makes tons of money from it. I just doubt he holds much of it for himself. Probably wants to let his customers have it. What a guy!!!!!!
Read the prospectus for his funds completely before investing and the expenses involved. This is true for SLV and GLD as well. You can do better with your own buying/holding/selling without the expenses. IMO.
I'm going to answer honestly rather than mocking the question... Let's start by looking at the current price of PSLV (Sprott's silver fund) - $7.86. That represents a premium to the NAV, which stands at $7.72. Then let's look at performance (according to Morningstar): PSLV (price): -34.72% YTD PSLV (NAV): -36.48% YTD Sprott has had multiple opportunities in the past to buy physical silver for his fund, but simply chose not to, hoping to sustain the NAV premium. I don't know how to interpret your question. On one hand, it's his livelihood. One should always be passionate about their livelihood. After all, if PM prices collapse and demand dissipates, Sprott will have no money. Taken the other way, you could be asking if the average person should be infatuated with the PM market to the extent that Sprott is. The answer is likely no. Though PMs are "cheap" compared to where they started the year, they're now in a channel with heavy upward resistance. All the people who bought physical metal at prices 20-50% above current levels will sell as soon as they think they can get some of their money back. Until the speculators holding physical have sold (thereby creating liquidity for future speculation), prices will likely continue to be capped at 25-30% above current levels.
I would have to agree. Sorry, but I never trust someone's financial advice whose paycheck is directly tied to how well he convinces you. Human nature is simply not strong enough to overcome this temptation. Personally, I try to discover an authors connection with whatever he is talking about first before really reading an article. I simply do not have time to worry about what a oil industry executive thinks about his environmental record, what a environmentalist thinks about global warming, or what Eric Sprott thinks about silver. Yes, they could all have valid points, but so do authors of 100 other papers whose ability to buy a lakehouse is not tied to the subject matter.
Totally agree, listening to Sprott about silver makes about as much sense as listening to Toyota about buying a car. The thing that really steams me though is, as far as I know, guys like Sprott, Butler, and Jim Willie never disclosed their market positions. When, I subscribed to the Motley Fool, there was always full position disclosure, even that loud mouth Cramer had full disclosure. At the bare minimum at least you knew these gents were putting their money where their mouth was. So, I really have to question, why this is. Is it just not good for business to let the bulls know you may only be holding 5% silver in your portfolio? On the flip side, if you were highly over weighted, in silver, wouldn't that make sense to let the world know that you not only talk the talk, but you also walk the walk? BTW, if anyone has any factual info on the PM pushers holdings, I would like to see it. I have searched and came up dry.
