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Message: eric sprott on silver

this is from bill murphy's commentary, reporting eric sprott's view of silver from the new orleans investment conference:

Speaking of silver, Eric Sprott dazzled the crowd at The New Orleans Investment Conference with his presentation on that metal. The essence of what Eric told the attentive audience re silver…

*He blasted GFMS for circulating the wrong silver supply/demand numbers (similar to GATA’s claims about their gold supply/demand numbers) … that their demand numbers have been way too low. While I didn’t take notes, Eric mentioned that in one year Sprott bought more silver than GFMS had accounted for their investment global demand number for that entire year.

*Sprott has been bullish for a very long time and has acted accordingly for the past decade.

*You don’t need a great many investment ideas to do well. What is key is to get the big moves right and stay with them, which he and Sprott Asset Management have done for the last decade as far as gold and silver are concerned. Eric saluted GATA for assisting him in getting it right. On a side note, Eric went out of his way to give GATA a “Tip o’ the hat” for our efforts since 1999 and singled out Adrian Douglas' work of late as extraordinary. CP, Adrian and I are very grateful for Eric bringing GATA to the attention of those attending the conference and to the many speakers in the audience listening to him.

*Eric noted the tendency for markets to be symmetrical, specifically going back to how fast silver fell from after its run to $50 an ounce in 1980. After all the work silver has done, competing bases, etc., Eric said it would not surprise him for the price of silver to make a similar FAST run to the upside and reach $50 in the next 4 or 5 months.

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