Same guys who were chasing tech stocks in late 1999 trading at PEs of 500 then lost the lot.
If you're getting into Silver ETFs now you've missed the boat, the time to invest is when it was languishing in the 10s.
No such thing as a "new paradigm", thats always the rationale. What were the forces at play in the 70s where Silver spiked to 50 and then down to under 10? Clearly they werent permanent.
We will see 25 dollar silver again before we see 100 dollar silver (which may take many years).
There's a reason why PM stocks have underperformed PMs over the last 3 years, and that's because the market doesnt believe that current PM prices will lead to a sustainable expansion in profits for mining companies - ie they dont believe the current market price.
CCU Price at posting:
83.0¢ Sentiment: Buy Disclosure: Not Held
