I had the opportunity recently to reconnect with Eric Sprott, Chief Executive Officer and Senior Portfolio Manager of Sprott Asset Management.
It was a powerful conversation as Eric
spoke to the key philosophies which resulted in him becoming a
billionaire; which market offers the greatest gain potential from here,
as well as the most important rule precious metals investors need to
keep in mind during these tough market periods.
When asked of the investment philosophy which resulted in him becoming a billionaire, Eric explained that, “You
have to be a buyer when people are non-believers. You have to believe
in something based on data that says you’re right when the world will
tell you you’re wrong, because when the world says you’re wrong and
you’re right, you know that the return will be outsized because no one is there. It’s like buying gold stocks in 2000 which I did to a very large extent. The HUI index was at 35 and it went to over 600. It went up 1700% in eight years. And that’s because everyone was against it.
It was like a killing field for an investor to go in and buy things
cheap and I really believe it’s kind of [a similar] opportunity again
today.”
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