What Sprott strategist John Embry is doing with his own money now
From King World News:
With the Dow now at its highest level since December 2007, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN “This is totally unrealistic and unsustainable.”
Embry also discussed gold and the mining shares, and what he is doing with his own money…
When asked about gold, Embry stated, “Today, I took delivery of more physical gold because I think this is a great time to be adding to your position. Eight months ago, it was over $1,900 and today it’s $1,650. Savvy investors will buy these dips in bull markets and that’s what I’m doing personally.
“Once gold exits this range that it’s been in now for a considerable period of time, it will exit violently to the upside. I keep saying it, but the physical market is gradually overcoming the paper market, and the paper market, in a word, is preposterous.”
Embry had this to say about the mining shares…