26 December 2013

NAV Premiums of Certain Precious Metals Trusts and Funds - Skoyles and Max Do Handbags

A bit of a surprise in the premium on Sprott Silver which is carrying a slightly negative premium and on a par or a bit lower than gold. That is unusual historically except when they are engaging in a secondary offering.

Sentiment is about as low as I have seen it in a long time. It brings out and emboldens the trolls and perma-bears and shills for sure, but even the stalwarts are flagging it seems.

And you know what that can mean.

For those with a long time horizon, I cannot help but reiterate, 'this too shall pass.' As you know I became interested in gold, and a few years later silver, when I began studying asset bubbles and money in the late 1990's. Compared to some periods in gold and silver this is not pleasant, but not all that unusual. It is a fairly stiff correction in what looks to be a bull market based on identifiable fundamentals. If anything concerns me at all it is the 'currency war' aspect of this, and the zealous overstepping of 'very important people' in blind pursuit of their utopian ideologies.

I also include an interview that Max Keiser does with Jan Skoyles.  It is a bit light in the seasonal shopping spirit. I particularly enjoyed her premiere interview with Ben Davies.   As an aside, when I was in my traveling prime I used to shop frequently at Harrods, and have a suitable veneration for their Food Halls.

However, I have to say that Aldi is a 'budget store' with remarkably good quality, and it does not surprise me that Jan hears that the quality of their mince pie is even better than Harrods. I first encountered them in Germany, and am pleased to see them popping up in the States on the east coast especially. A very workable arrangement for the staples indeed, and the occasional nice surprise from Deutsche Küche brand.

But we tend to 'shop local' whenever feasible, no matter where we might be, from people who actually make and do the things themselves. I have had some great times exploring the local markets around the world with my wife, who is the real subject matter expert on all things shopping and on value in general. It seems as though every good thing I have, or am, has come through her. Together we make a better person than either of us would be alone, looking out and facing the world together. To me this is the essence of a good relationship.

And sometimes there are little overlooked gems to be found, even in your own back yard, if you but take the time to look for them. We search them out, and give them our patronage and attention whenever possible. This applies to both shops, and people.