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Silverseek: Ted Butler: SLV Short Position Update


The hard-metal ETFs are incredibly unique securities in the universe of stocks. I believe that this uniqueness accounts for much of the negative commentary about SLV and GLD, in particular. Of the total universe of tens of thousands of different stocks in existence, only a very few are hard-metal ETFs. Even expressing it in an actual percentage is hard. In addition, the hard-metal ETFs are relatively so new to the investment scene that their short history makes them difficult to put in proper perspective. GLD has been around for seven years, SLV for less than six years. Yet in that fairly limited time, each has become the largest publicly owned stockpile of gold and silver on earth. It seems clear that the idea of owning gold or silver by means of owning a stock appealed to a great number of investors. This has nothing to do with whether you should own these securities; that’s up to you. But you can’t objectively analyze silver or gold by ignoring the two 800 lbs gorillas in the room.
Because the hard metal ETFs are so new, so big and so unique when compared to all other securities, it is easy to overlook other facts unique to them......

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