Wednesday, 6 May 2015
Last updated 7 hours ago
Feb 8 2010 | 8:33am ET
Canadian hedge fund manager is betting big on two kinds of gold.
Eric Sprott offered a bullish take on gold’s future. The founder of Toronto-based Sprott Asset Management also pledged some gold to support the future of Canada’s athletes, promising a donation for every gold medal won by a Canadian at this year’s Winter Olympics, which are to begin in Vancouver, British Columbia, this week.
Sprott estimates that gold, currently sitting at about $1,067 per ounce, will soar 40% to $1,500 by the end of this year. And the distant future is even brighter, with Sprott predicting that price will double to $2,000 next year.
Sprott has about 40% of his fund’s assets in gold.
His optimistic take on the precious metal will certainly be music to the ears of another hedge fund manager: John Paulson’s gold-only hedge fund dipped 16% in its first month of operation, a rare misstep for the Paulson & Co. founder.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…