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 http://www.tfnn.com/hour01.html
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.
Confirmed (sort of) From Zero HedgeSprott Silver Mutual fund
3 comments:
KD,
Not quite what he was implying in the video presentation but close enough. Place your bets the Silver Casino is open for Biz.
KD's ears must be burning up big time on his vacation. If the Internet was a better place he would be allowed to run a victory lap around some of the blogs that totally went off on him when he dared to speak the reality of what was up with PSLV.
I should have made my comment a little clearer to KD. Last time he stopped by he was wondering why I said there would be PSLV2 as he hadn't heard anything about that. I picked up on it from something Sprott said in a presentation a few months back and put 2 and 2 together. Even a guy like Sprott doesn't have unlimited funds and needs public participation. I expect he will be doing a similar thing with Gold, Palladium and to lesser extent platinum as long as he can get the timing right.
I say lesser extent as JPM are working to corner that market and run it up.
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