Who’s the best investor between those 2, you believe? It’s of course Derek Foster. After selling his portfolio (around March 2009 or so), Derek Foster decide to stick to the stock market. He’s a good example to follow. But it’s not exactly the case when it comes to Eric Sprott of Sprott Asset Management LP.
No matter what Eric Sprott and his colleague David Franklin had to say about the bad shape of our economy, I am still on the road to reach 100 000$ in assets – and not 100 000$ in savings… There’s a major difference here. The “assets” provide a continuous cash flow in my investment portfolio and savings well, will provide me nothing at all. I am not a fan of 1% interest rate savings account.
Once again, I will like to come back to the article of Eric Sprott and David Franklin: “Is it all just a Ponzi scheme”. This type of article is kind of surprising knowing that Eric Sprott had blame the short stocks sellers (purchase stocks and sell shortly after to accumulate gain) for part of the problem – the bad shape of the stock market. What I consider bad shape is when the stock market gain consistent gain to loose them all 2 or 3 days later… Short term sellers may be part of the problem, but Eric Sprott represents a bigger problem on itself.
Of course, here at My First 50 000$ we are not from those who purchase stocks just in order to sell and accumulate gains. We invest to gain from dividend, and not gain from sell – at the exception of one experience we try to perform with Dumont Nickel (DNI). I currently hold 23 000 stocks of Dumont Nickel (DNI) that I had been trying to sell at 4 cents per stock. After several months, my sell order still on – I haven’t been able to sell my 23 000 stocks at 4 cents per stock yet.
Here at My First 50 000$, I sell for necessity – not in the purpose to make quick gain. And since, by the way, I am almost at 65 000$, I am not in need to quick gain cash here, it’s about building an investment portfolio for the long run.
The stupidity of Eric Sprott is obvious. This article had nothing to bring back the confidence of the investors who, after reading Eric Sprott and David Franklin. Sometimes, the persons who had power are sometimes the most ignorant of all. Remember George W. Bush? And now its turn to Eric Sprott to show publicly his own lack of knowledge. We may now understand better on why Jean-Francois Tardif had call for a too soon retirement back in July 2009.
We close the year 2009 with an overall value of 64 737.39$ in our investment portfolio. And in 2010, we will finish the year with at least 100 000$, no matter what Eric Sprott had to say.
No matter what Eric Sprott and his colleague David Franklin had to say about the bad shape of our economy, I am still on the road to reach 100 000$ in assets – and not 100 000$ in savings… There’s a major difference here. The “assets” provide a continuous cash flow in my investment portfolio and savings well, will provide me nothing at all. I am not a fan of 1% interest rate savings account.
Once again, I will like to come back to the article of Eric Sprott and David Franklin: “Is it all just a Ponzi scheme”. This type of article is kind of surprising knowing that Eric Sprott had blame the short stocks sellers (purchase stocks and sell shortly after to accumulate gain) for part of the problem – the bad shape of the stock market. What I consider bad shape is when the stock market gain consistent gain to loose them all 2 or 3 days later… Short term sellers may be part of the problem, but Eric Sprott represents a bigger problem on itself.
Of course, here at My First 50 000$ we are not from those who purchase stocks just in order to sell and accumulate gains. We invest to gain from dividend, and not gain from sell – at the exception of one experience we try to perform with Dumont Nickel (DNI). I currently hold 23 000 stocks of Dumont Nickel (DNI) that I had been trying to sell at 4 cents per stock. After several months, my sell order still on – I haven’t been able to sell my 23 000 stocks at 4 cents per stock yet.
Here at My First 50 000$, I sell for necessity – not in the purpose to make quick gain. And since, by the way, I am almost at 65 000$, I am not in need to quick gain cash here, it’s about building an investment portfolio for the long run.
The stupidity of Eric Sprott is obvious. This article had nothing to bring back the confidence of the investors who, after reading Eric Sprott and David Franklin. Sometimes, the persons who had power are sometimes the most ignorant of all. Remember George W. Bush? And now its turn to Eric Sprott to show publicly his own lack of knowledge. We may now understand better on why Jean-Francois Tardif had call for a too soon retirement back in July 2009.
We close the year 2009 with an overall value of 64 737.39$ in our investment portfolio. And in 2010, we will finish the year with at least 100 000$, no matter what Eric Sprott had to say.
I was not going to write anything, but since you have been so vocal against Sprott, with very little supporting information concerning your disapproval of what he is saying, I feel compelled to write.
ReplyDeleteThe article that you mention is actually extremely important and shows exactly the dire state of the government bond market, being blatantly manipulated by the Federal Reserve. This will lead to an ongoing bubble in treasuries, ultimately leading to a collapse. I don't expect you to really understand this. But you mentioned the article in your blog, so you should at least know what it is about.
As for your argument that Foster is the better investor... well, it's not really an argument at all, you just state it "matter of factly" in the first paragraph... with no support. Foster sold his portfolio at the lowest point that the stock market reached in over 10 years... Buy low... sell high? Foster did the exact opposite. How is this good investing?
Also, I would like to note that your description of short sellers is not at all correct... Short selling has nothing to do with the amount of time an investment is held.
This posting is ridiculous and I feel ashamed I wasted my time reading it. There is no supporting information on why Derek Foster is a better investor other than he stuck with the stock market (which is completely wrong by the way) He sold out completely in March 2009 at the absolute bottom. To compare these two people are like comparing bill gates (Eric Sprott) to the bum on the streets. There is no comparison whatsoever. Sprott is an educated CA, and Foster is a wannabe market participant.
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