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Eric Sprott's Big Bet

|Includes: Sprott Physical Gold Trust (PHYS)

In case you were wondering, Eric Sprott is still long and strong on gold. He didn’t mention the ETF bubble since he was in the Big Apple to launch the Sprott Physical Gold Bullion Trust (NYSE Arca: PHYS or TSX: PHY.U).

Past Sprott metal funds include the Sprott Molybdenum Participation Group (TSX:MLY) which was a hot IPO at $5.00 in April 2007 that was dissolved in July 2009 at $1.76/share (I’ve seen worse). Sprott Securities Inc. also led the deal to create Uranium Participation Corp. (TSX:U) back in 2005.

We wouldn't bet against Eric Sprott. Sooner or later he'll make a big gain on his gold holdings. Just remember that he may be selling his position at some future date so don't just "set and forget" your gold bets.

Disclosure: No Positions