Stuff That Interests Me

This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI found myself at a very VIP event last night at the home of a well-known politician. There was a heck of lot of money, age and experience in the room. I felt like I’d gone back in time to the City of the 1980s.I got talking to an old boy who, it turned out, had made his money in mining. He had worked at one point for the Hunt Brothers (who famously tried to corner the silver market in 1980). He had speculated in Australian’s Poseidon bubble (1969-70), one of the mothers of all speculative mining frenzies. He recalled a stock he had bought at 10c, offloading his final shares at A$120, only to watch it go to A$280. (50 years on, he was still cross with himself for selling too soon, even though it soon went all the way back to 10c).“Are we in a secular bull market for mining stocks now?” I asked him. He didn’t seem to think we are.“What about gold and silver?” “Silver’s at $53,” he smiled.“$58,” I corrected him.“$58!” he said.