Sunday, February 2, 2014

Marc Faber : Eric Sprott, is a smart guy who made a lot of Money

Marc Faber : I have no faith in paper money, period. Next, insider buying is also high in gold shares. Gold has massively underperformed relative to the S&P 500 and the Russell 2000. Maybe the price will go down some from here, but individual investors and my fellow panelists and Barron's editors ought to own some gold. About 20% of my net worth is in gold. I don't even value it in my portfolio. What goes down, I don't value.

[Laughter all around.]
I am a director of Sprott [SII.Canada]. Eric Sprott, the founder, is a smart guy who made a lot of money for himself, his funds, and charities. He sold a lot of his company's shares because he sees better value in small mining companies. If the gold price goes up 30%, Sprott's shares might double, but mining stocks could go up four times. We are already starting to see a move up in the stocks. - in 2014 Barron's Roundtable

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

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