kingworldnews.com / March 14, 2013
Today one of the wealthiest people in the financial world spoke with King World News about what he considers to be one of the most incredible opportunities he has ever seen for investors. Here is what Rick Rule, who is the CEO of Sprott USA, had to say about that opportunity and creating great wealth: “One of the things that is interesting at this point, Eric, is the, ‘why bother’ question? When investors go through a bear market like this where they haven’t been making any money they ask, ‘Why would I take this risk?’ The thing you have to point out to investors and speculators is that history repeats.”
Rick Rule continues:
“Bear markets like this are the cause of bull markets, and the bull market moves are so extraordinary. But by judiciously and aggressively deploying capital in the 1990, 1991, and 1992 bear market, when the snapback came, the fact that we had been able to participate aggressively in private placements with long warrants, it meant that the capital gains we enjoyed were so extraordinary that as I said in my last interview, my capital gains tax bill in 1996 was greater than my entire net worth at the beginning of that market.
And it wasn’t because my net worth in 1991 was low. I had a reasonably large sum of money….