KD's facts spoiling Eric Sprott's good story

Kid Dynamite has being doing sterling work (geddit?) by tracking the way in which Eric Sprott has been mindfarking his own flock and creaming the profits generated by them into his own back pocket, Eric's vehicle of choice being his silver fund PSLV. Today KD updates on the affair and notes that Eric has sold more stock at a premium to NAV.....and oh what a coincidence!....just after preaching the old "silver to the moon Alice" line in public speakpits and forums that give you rampant silverbugs them there sticky dreams.

Go see the latest in KD's excellent series right here and make a point of clicking thru his links provided in-post to see the previous stuff. When you do, you'll notice how patient KD has been with the more-cash-than-sense boorish and arrogant idiots who've left comments. Far more patient than your humble scribe could ever be, that's for sure.

Eric Sprott's doubletalk on GLD

A very nice catch by Kid Dynamite at this post today. Go read it all but here's the bottom line:

So, to summarize, and again, these are facts:  $PHYS bought $340 MM of gold.  $GLD saw $340 MM in redemptions (on the same day).

And as KD himself noted in the comments section:

The implications to me are that PHYS, which people like because they think GLD doesn't have real gold, is a completely unnecessary product. Then again, I knew that already.

That's spot on. Eric Sprott, an early contender for this year's Style Over Substance award.

Interview with Eric Sprott

On this link. Click the little man icon to the left of Sprott's photo to download the 39 minute interview (Sprott starts talking at 2:25, so skip the intro and get to the paydirt). Here's the promo blurb to whet your appetite:

Eric Sprott has over 35 years of experience in the investment industry and manages roughly $5 billion. Eric has been stunningly accurate in his writings for quite some time and is one of the highly respected industry professionals who foresaw the current crisis and chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating while correctly forecasting the tragic collapse we are all enduring. In this interview Eric discusses the stock market, bond market, inflation, deflation, gold, silver, gold stocks, consolidation in the gold sector, the economy, the US Dollar, paper currencies globally, tax revenues going down, layoffs in US government jobs in states, oil and much more.

And here's the link again, just in case. h/t to reader DQ for the link.

Fortuna Silver (FVI.v): What does Sprott think?

Cormark (Sprott by any other name) has just initiated coverage on Fortuna Silver (FVI.v). Here's how the note ends:

We are initiating coverage on Fortuna Silver Mines with a Buy recommendation and a target price of C$2.30 per share, which is based on a 1.0x multiple to NAV, in line with growing precious metals producers. Fortuna shares offer investors exposure to a high quality, junior producer with good leverage to the silver price and a rapidly growing production profile.

All I can say is "what took you so long?".


DYODD