by Tekoa Da Silva, Bull Market Thinking:
I had the opportunity yesterday to reconnect with legendary resource financier and investor, Rick Rule, Chairman of Sprott US Holdings.
It was a fascinating conversation as Rick spoke to the likelihood of (and his preparations for) an October “black swan” event, Sprott Asset Management’s investment approach at this time, and what investors should keep in mind in order to successfully navigate today’s resource market.
Commenting on the elements that suggest a coming October black swan surprise, Rick said, “If ever there was a set of circumstances that came together that would give an asynchronous event the ability to take the financial system off the rails again, it would be this month…the dysfunction of the US congress with regards to the spending authorizations and the upcoming problem with regards to the debt ceiling, and the fact that those occur…[during] a psychologically important month raises the specter in everybody’s mind…of a black swan event that takes down all markets and drives everybody to respect liquidity.”
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