What Rick Rule learned after making 'egregious' early investing mistakes
Rick Rule says investors should be buying gold, silver, platinum and palladium.
"Many of our clients are still underweight physical precious metals," said Rule, President and CEO Sprott U.S. Holdings, in an interview with Andrew Nelson.
"We are urging those clients to position themselves either in the physical precious metals themselves or preferably in the 3 Sprott Physical Precious Metal Trusts, the gold, silver, and platinum & palladium trusts."
Interview edited for clarity.
Andrew Nelson: Being a legend amongst resource financiers what have you done throughout your career to create phenomenal returns for yourself and people who have invested with you?
Rick Rule: The first thing I’ll say was that I made an egregious mistake in my youth. In the bull market of the 1970s I did not know that natural resources were cyclical. I forgot that a bull market is the author of a bear market. What happened after I made that initial mistake was that the pain of that mistake was so fresh for me for the next 4 years that I understood I had to be a contrarian or that I would become a victim. Understanding the capital intensive cyclical nature of natural resources is essential in achieving success in this sector..
Link: https://ceo.ca/@AndrewNelson/what-rick-rule-learned-after-making-egregious-early-investing-mistakes
Quelle: blog.ceo.ca
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