bullmarketthinking.com / By Tekoa Da Silva / December 20, 2013
I had the opportunity recently to reconnect with legendary resource financier and investor, Rick Rule, Chairman of Sprott U.S. Holdings.
It was a fascinating conversation, as Rick indicated the resource market is exhibiting all the classic signs of a major bottom, to which investors face downside risks of about 50%—juxtaposed against upside potential of 10 times or more. He further commented on the single trait which separates millionaires from billionaires, after having personally gotten to know over 20 during his lifetime.
Commenting on price performance across the junior resource sector, Rick noted that, “We’re starting to see the odd incidence of a melt-up in this market. We’ve seen meltdowns for three years where there was a preponderance of sellers over exhausted buyers. Now you’re starting to see melt-ups where the odd buyer comes in the market [but] there’s nobody left to sell.”
Thanks to BrotherJohnF