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What is going on in the hard money blogosphere? How on earth is paper getting confused with bullion? Recently, not one but two prominent hard money-oriented blogs intimated that the stock known as Sprott Physical Silver Trust (PSLV) is more like the real thing than what it really is – a non-dividend-paying stock, aka a [...] Where are the Sprott Physical Silver Trust’s customers yachts? This investment vehicle, U.S. stock symbol PSLV, is basically a closed-end fund. Its current asset value is $650 million. PSLV owns physical silver and earns a large guaranteed income for Sprott vehicles that charge somewhere near 1% yearly simply to hold the silver. Anybody who thinks [...] As I take a break from the Corzine testimony before the House Agricultural Committee, I’d like to briefly comment on the prospects for the precious metals vis-a-vis the U.S.D. The first thing I notice, as someone who always looks at charts to see if price action is in line with my view of the fundamentals, [...] The heavily-traded shares of PSLV, aka Sprott Physical Silver Trust, trade at over a 20% premium to the value of the silver held by the trust. Meanwhile, every year, about 0.7% of the value of the trust goes to pay expenses, mostly a 0.45% annual fee to Mr. Sprott’s asset management company. Back in the [...] On June 2, with the next-month silver futures contract around $37.30 per ounce, I blogged that “Silver Is Probably Overpriced“. It is now $34.75 on the futures market. One way that I believe is a good way to track whether silver has bottomed relates to a topic I discussed in that post: The silver space is [...] |
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