In January 2012, I wrote “All that glitters” reviewing the investor experience in Sprott Inc. which was then trading at $6.00 from its much celebrated and heavily promoted Initial Public Offering at $10 at the commodities cycle peak in May 2008. Having once more appeared with confident and seemingly unbowed Sprott representatives at the recent resource conference in Vancouver last week, I was prompted to check in once more on investor returns over the past now 5 years. The answer: -70%. Here is the chart.
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Cory’s Chart Corner
Many will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
The Kobeissi Letter @KobeissiLetterBREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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