PSLV premium may take a hit

To anyone who bought PSLV on it's opening day congratulations you are smarter than the average bear. 
This is an FYI to anyone holding PSLV not a debate on whether the premium is simply true price discovery or a mini bubble.
Per Tom O' Brien Sprott is planning to dump some or all of his PSLV holdings. In  case you don't know who Tom is he is a self proclaimed Gold lover who has been calling a top for about a year or 10 in Gold. The video is here

Keep in mind this does not mean Sprott is getting out of Silver as he has plans to open a PSLV 2 in the future. However, depending on how he sells or the market reaction to this news the premium may take a hit. As always you have to do your own due diligence and if you are really concerned give PSLV a call.


Kid Dynamite said...

Fyi, Lewis, it's not Tom O' Brien's opinion - it's an official SEC filing, and it's 6 weeks old

by the way - where did you get the idea that Sprott is opening a PSLV 2? there's no reason for him to do that - he'd just buy more silver for PSLV instead.

you can reply to me via email (on my blog's contact page) or comment on my blog, if you like.

Louis Cypher said...

You are speed reading. I didn't say it was Tom's opinion. I simply attributed source.
PSLV2 ... from Sprott. He said he was considering it.

Kid Dynamite said...

didn't mean to misinterpret you, apologies. I misinterpreted the "per"

do you have a link to Sprott saying he'd consider PSLV2? Makes no sense. In case it's not obvious, PSLV2 would eat into the PSLV premium in the same manner that a PSLV secondary would.

GM Jenkins said...

Well KD, your work here is done. Sold my shares of PSLV (a shit ton) at the opening bell ... so far it's worked out nicely, down another 2%. You haven't convinced me of SLV yet, I'll probably buy SIL and SLW if I go back in. Let's see what BS Bernanke says tomorrow.

Louis Cypher said...

KD, No problem.
I picked up on the PSLV part deux on a video presentation he gave a while back.
I'll need a bottle of Tequila (with worm), a couple of hookers and an Eight ball to jog my memory though.
SGS said you have a couple of hookers tied up in your basement so I'll drop by later to pick them up.