Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (11523)	2/8/2015 6:59:57 PM
From: Goose94	Read Replies (2) \| Respond to of 203028

"Now and Then" My 2 week suspension from SI - Jan 22 Gold US$1300 Feb 8 US$1238

To: Goose94 who wrote (11523)	2/10/2015 8:33:25 AM
From: Goose94	Read Replies (1) \| Respond to of 203028

Gold: The Globe and Mail reports in its Tuesday edition Sprott has abruptly closed one of its hedge funds after Switzerland's decision last month to drop its euro currency peg. The Globe's Sean Silcoff writes Sprott Absolute Return Income Fund, launched in 2010, had $21-million in assets under management. It had just enjoyed a strong 2014, generating an 11.6-per-cent return. Disaster struck Jan. 15. On that day the Swiss National Bank abandoned its policy of maintaining a minimum exchange rate of 1.20 Swiss francs to the euro, after repeatedly affirming its commitment to hold the exchange rate floor of one of the world's safe-haven currencies. The move spelled disaster for the Sprott fund. Its managers had staked 10 per cent of the fund's assets selling a euro-Swiss franc put, a move that depended on the Swiss central bank holding to the currency peg. The Swiss bank prompted the country's currency to spike 15 per cent in value, forcing the fund managers to cover their position at a massive loss. By the end of January, the fund's assets under management had fallen by 17.8 per cent over the month. Sprott closed the absolute return fund on Jan. 30 and said it would return investors' remaining capital.