May 30, 2013
We are big fans of the fake reality TV show Pawn Stars. Let's face the facts, the only thing real about reality TV is the smile on the stars' faces when they cash their oversized paychecks. Forbes just interviewed Rick Harrison about life and investing. Not surprisingly, 10 percent of Rick's portfolio is invested in precious metals. The rest is in blue chips with another 10 percent reserved for speculation. Not a bad formula. The Forbes writer was taken aback at Rick's precious metals portfolio, typical of a mainstream financial writer. Perhaps the biggest shock was that Rick's long a leverage silver ETF. His reasoning is quite simple and powerful, he's in the business and can't lay his hands on much silver; he thinks it's overdue for a major increase. On that point, we're with Rick!
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