Billionaire Eric Sprott: “Gold Stocks Will Go Up Multi Ten Thousands of Percent!”

“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 yearsAnd that’s because everyone was against it. It was like a killing field for an investor to go in and buy things cheap and I really believe it’s kind of a similar opportunity again today.
Once gold starts looking like, ‘Hold it now—maybe that secular bull market wasn’t over?’…All will be forgotten quickly. If the price of gold is $2000, you would not believe what the sentiment will be…They’ll all come in…you will have everyone trying to get through the same door at the same time and it could be quite stunning…stocks will go up multi ten thousands of percent!
Click here for more from Eric Sprott on gold & the shares will move when the next leg of the bull market gets underway:

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17 comments on “Billionaire Eric Sprott: “Gold Stocks Will Go Up Multi Ten Thousands of Percent!”
  1. BK says:

    Sprott’s version of “Waiting For Godot”.

  2. Bruce 2 says:

    I heard rumours that Sprott was in an alcoholic downward spiral, ready to write a book dishing all the dirt.

    Dirt of which includes pics of Eric King in compromising situations, and finally telling us all about what he thinks of that Elongated Voice.

    I heard Eric King’s friends and family disowned him. I heard he sleeps with precious metals and has a room containing a shrine dedicated to Jim Sinclair and Andrew Maguire, for the listeners globally.

  3. Bruce 2 says:

    Sprott:
    “Sure we haz lost billionz, but we be gettin’ dem back, yo.”

  4. A. Paco Liptz says:

    Sprott is starting to sound like he is cracking up. His gold fund cost its clients billions on Sprott’s lousy advice. Now he is shouting — “I’ll be right someday. Just wait. You’ll see.” Indeed, someday hell WILL freeze over.

  5. William says:

    It never ceases to amaze me how toxic the verbal attacks on very successful people can be, especially when they come from slackers with a net worth in the high 4 fiqures.

  6. Snorky says:

    Eric Sprott seems like a ‘straight-up’ kind of guy, although I have never met him personally and had no interactions with him (therefore, I can’t say for sure).

    Having said that, some of the nastier remarks here are just bad karma, man. Bad karma.

  7. whiplash says:

    I don’t understand Sprott. He just sold $76 million in gold bullion. http://wallstreetsectorselector.com/2013/12/sprott-resource-corp-sold-76m-bullion/.
    Then he turns around and says gold is going to blow through the stratosphere. $500 million loss in PM’s over 3 years? Then he sells 76 million in PM’s? Immediately following, he announces gold to go over $2000 OZ., encouraging everyone to get on that bandwagon, but instead of holding on to his $76 million stash and turning a nice profit, he sells for energy and agriculture stocks obviously because he believes they will do better than gold? Hmmm, strange! What he’s selling people on the idea of doing, he is not doing himself. You really have to wonder if some of these writeups about PM’s is not propaganda, and mainly from people who sell them. This link shows you how much he’s lost, https://en.wikipedia.org/wiki/List_of_Canadians_by_net_worth.
    Am I missing something here?

  8. Snorky says:

    I recall him saying recently that he sold gold bullion (his or his clients?) and purchased miners because the valuations were much more compelling for miners at this point. Do your own due diligence, though.

    Frank Giustra stated that he did something similar back in April/May 2013.

  9. palika says:

    sprott will be running bingo parlors in canada. but what happened to keiser… buy silver bankrupt jp morgan chants? silver is old news. only gold and those honey bits of bitcoin for the new year hype!

  10. Bruce 2 says:

    William, my gossip rag is called “high4figures, yo”. I know you read it.
    -R. Murdoch

  11. Solomon says:

    While contented to make outsized profits in the good years, they just don’t seem to understand that it was mostly just luck that gets them there. The human ego knows no bounds. So when the tough times come, they are caught by surprise. Price moves, value is an illusion. A thing is only worth what someone else is willing to pay … no-thing more.
    Time and chance happens to all, as Solomon says.

  12. yolithos says:

    Millions of dead mutants don’t eat or drive cars. And only have to be cremated once.

  13. JB says:

    Quick recap here:
    How many times has sprott been right the past 12 months, how about the past 2 years then ?

  14. Peter KARWACKI says:

    In the mean time the cost of physical metals is increasing in spite of the spot market valuations:

    The price of a physical silver maple ( the in your own hands kind) has hit an all time high of 31.3%.

    What a way to start the new year.

    Remember: to this you must add, shipping and handling, an administration fee, and possibly some tax.

    Pete

  15. Robbie777 says:

    cheaper options in the uk,Peter, i use atkinsons, and guernsey mint, but there are plenty of others, Even ebay has cheaper deals than 31.3% over spot.

  16. Steven says:

    $2,000.00 an ounce gold is nothing! It is an insult to its owners and producers, it is a lie and a cheat! Try tallying up all the cash, credit, financial and property assets in the world and divide by all the real tradeable gold in the world sans paper gold. Same deal for silver also and to hell with the fraudulant GSR which was concocted by those that desire cheap silver. It is time to start adding zeroes to the prices of the metals.

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