David Fry

David Fry's Daily Market Outlook

I understand your views. We're involved with SLV and GLD in addition to CEF. CEF is more attractive to retail based on low individual share price. While this seems obtuse it's just more convenient for smaller investors to own both metals and control more shares. It's difficult for many to buy SLV @ $140 or GLD @ $64 hence the appeal. The premium can reach silly levels when enthusiasm is high. Note that IFN [India Fund] reached premiums of 35% [currently 5%] in the spring and TRF [Russia Fund] 45% during the same period. Rather than scoff at those, our role is to know when to be in them or not.

As I said, I fully understand and respect your views.

David Fry's Daily Market Outlook

Didn't even think I "made a case" one way or another.