Eric Sprott: “You have to be a buyer when people are non-believers”

Posted by Eric Sprott via Mark Leibovit

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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 I really believe it’s kind of [a similar] opportunity again today.”



Ed Note: This quotation came via Mark Leibovit and his LEIBOVIT VR GOLD LETTER – JANUARY 2, 2014