Eric Sprott: Save Canadian Mining, Stop Predatory Short Sellers

Investing News Network, Released on 11/20/19

Canadian billionaire Eric Sprott is backing Save Canadian Mining, a new advocacy group whose primary aim is to reinstate a securities trading rule known as the “uptick rule” or “tick test.”

Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada’s largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Digest’s Canada’s Best Investors (2004); Ernst & Young’s Entrepreneur of the Year (2006); Investment Executive’s Fund Manager of the Year (2007);’s Top Financial Visionary (2011); Terrapinn’s Most Influential Hedge Fund Manager (2012); and the 2012 Murray Pezim Award for Perseverance and Success in Financing Mineral Exploration (2013).

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Listen, this is what you need to kill much of this fraud occurring in the market: After you buy a stock, you need to hold onto it for a month before you can sell it. This will get rid of the day traders, the short term short sellers, and so on. Also, brokerages should not be allowed to invest, and those with huge amount of assets should also be managed in some fashion. Further, eliminate these generous warrant offering that only dilute and destroy companies. There is much more, but this is a start.