Over the years, numerous people have openly expressed their beliefs in gold. For individuals such as Eric Sprott, the term “gold bug” isn’t necessarily telling the entire story. He can safely be regarded as a gold perma bull.
Eric Sprott the Businessman
Similar to most other gold bugs around the world, Sprott began his career in a different manner than most would expect. Eric became a research analyst for Merrill Lynch, giving him ample insights as to how the different financial markets operate in correlation to one another and of their own accord.
Merrill Lynch is a highly respected company within the financial industry, even today. As such, Eric Sprott was able to rise through the ranks during his tenure with the firm. Eventually, he became a fund manager, further strengthening his beliefs in gold and other precious metals.
It is also worth noting that Eric Sprott sold his first company – known as Sprott Securities – back in 2011. Interestingly enough, the company was purchased by other staff members, allowing Sprott to donate $10 million to Carleton University. Following that donation, the business school of CU was renamed to Sprott School of Business.
Eric Sprott the Gold Investor
Due to his tenure at Merrill Lynch, it is not hard to see why Eric Sprott became so keen on gold. It has proven to be an extremely valuable asset at any given time, regardless of global market and geo political circumstances. During times of financial uncertainty, gold tends to appreciate in value even more.
It is also for this reason that Eric Sprott advised people to buy gold before the 2008 financial crisis took place. Ever since that crisis took place, the gold market has been on an expensive bull trend and hasn’t shown any real signs of slowing down just yet. Those who followed Sprott’s advice will have made good money in the process.
In terms of personal holdings, it is relatively difficult to find information about Sprott’s assets. However, he has claimed in the past that up to 90% of his assets are always in gold and silver. If that is still true today, the billionaire – estimated to have a net worth of $1.12 billion – holds a significant gold and silver position today.