PINL:VLTAF - Post by User
Comment by
ALLEN4on Mar 26, 2013 12:38pm
244 Views
Post# 21169131
RE: RE: RE: SPROTT SAYS A LOTT
RE: RE: RE: SPROTT SAYS A LOTT I am also not as enthusiastic about Sprott as you may be. Yes he has made some money but how much of that was from owning a large investment house and everything that goes along with it, versus wise investment choices. He has had significant blunders, such as a big bet on Timminco which is now bankrupt. He also missed out almost entirely on one of the largest bull runs in history which started in March, 2009, because he was convinced that financial armegaddon would prevail. Mind you, many very astute investors were shorting the market as well and were also blindsided by the historic bull run. I tend to agree with Kaiser who at PDAC suggested that the kind of talk we hear from Sprott and Embry detracts from the validity of gold miners as an investment, since it suggests we are a fringe element, out of touch with maintstream. Also, look at comparing Sprott, who may be a hero in CAnada, to someone like Warren Buffett, whose approach is almost diametrically oppose, Buffett being an eternal optimist and Sprott being an eternal pessimist. It may be that Sprott will ultimately be vindicated and Buffett's big bet on the US economy will be wrong. But Buffett has a history of being right - in the face of prevailing sentiment - ie. he called the tech bubble from the beginning. Talk of conspiracies and market manipulation and financial armageddon makes me nervous, and that's not why I am in Volta. In fact financial armageddon would likely spell the end for all speculative junior mining shares like Volta.