RE: RE: RE: RE: Sprott Molybdenum Participation CoMaybe you should try and educate yourself "before" claiming to be an "expert" Chundie.
You may want to read at least as far as the quote about "economic turmoil" before you get overloaded by all the big "professional" words Chundie. This oft-quote "economic turmoil" and the affect its had on the markets for some reason appears to have you totally befuddled since you appear unable to grasp its existence let alone the affects its had on the economy and practically every business across the glob.
HH
From
Canadian Business magazine, November 24, 2008
Mutual funds: Raging bulls
Why Sprott launched a new fund now.
By
Thomas Watson
Thomas Watson is a senior writer with
Canadian Business. Prior to joining the magazine, he was a financial journalist and feature writer at the
National Post,where he focused on the technology, auto and steel industries. Hiscolumn for Canadian Business Online appears every other week.
More stories by this author >>
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Charles Oliver and Jamie Horvat areknown as rock stars in Canadian mining circles. They are also known asfearless sector bulls. That said, they are too experienced to ignorethe obvious, which is why they sported hard hats in September whileroad-showing their latest venture. It involves taking numerouscalculated risks, but money isn’t the only thing at stake. Oliver andHorvat are putting their reputations on the line, asking investors tobet on a business plan with a shaky foundation that seems to beproducing new cracks every day.
The hard hats, of course, are largely symbolic. These guys are notin the construction business or mining game. They’re money managers wholaunched an all-cap mutual fund, just as free-market capitalism wasfalling apart, and almost everyone else on Bay Street was simply tryingto cover losses.
Last January, Oliver and Horvat setStreet tongues wagging when Eric Sprott signed them to manage a goldfund for Sprott Asset Management Inc. (SAM). The two investmentprofessionals jumped ship from AGF, where they were recognized as topperformers in precious metals, small caps and resources. “It was kindof tough leaving a job looking after six mandates and $4-billion worthof assets for just one gold fund,” Oliver says. “But I love the Sprottorganization, and I thought gold was the place to be this year.”
Oliverwas so bullish on gold when he decided to leave AGF that he promised toshave his younger partner’s head if the price of bullion didn’t tradeabove US$1,000 an ounce this year. Horvat escaped a haircut, and notjust because the mechanical engineer is younger and physically muchlarger than his co-worker. In March, gold broke the psychologicalbarrier, exciting bullion bulls around the world, but the rally quicklywent cold despite economic turmoil.