Libertarian666 wrote:
Here's an interesting detail from the latest salvo from the GTU trustees in this battle, from
http://archive.fast-edgar.com//20150616 ... JZ2W2ZB72/:
"Sprott has required that any GoldTrust Unitholder that wishes to tender to the Sprott Offer on a tax-deferred basis must grant to Sprott Asset Management LP an irrevocable power of attorney to effect the structural changes to GoldTrust necessary to force through their proposed merger transaction. For reasons that Sprott has failed to disclose, this power of attorney becomes irrevocable at 4:58 p.m. on the expiry date, meaning that Sprott maintains voting control over Units tendered on a rollover basis after expiry, even if Sprott has not achieved any or all of the stated conditions to the Sprott Offer or paid GoldTrust Unitholders for their Units. As set out in the Trustees’ Circular, a number of possible scenarios may prevail following the expiry of the Sprott Offer, during any or all of which Unitholders that may have tendered to the Sprott Offer might wish to withdraw their consent to the Sprott Offer or, at least, maintain voting control over Units that have not been taken up by Sprott. Units tendered on a rollover basis are not actually intended to be taken up by Sprott, meaning that Sprott could end up with broad voting control over a significant number of GoldTrust Units without having paid any consideration therefor and with no ability by tendering Unitholders to take back their votes."
That alone is an excellent reason to reject this offer.
Some things Harry Browne said
Rule #4: No one can predict the future.
Events in the investment markets result from the decisions of millions of different people.Investor advisors have no more ability to predict the future actions of human beings than psychics and fortune-tellers do. And so events never unfold as we were so sure they would.Yes, there have been forecasts that came true. But the only reason we notice them is because it’s so exceptional for even one to come true. We forget about all the failed predictions because they’re so commonplace. No one can reliably tell you what stocks will do next year, whether we’ll have more inflation, or how the economy will perform
Rule #8: Don’t let anyone make your decisions.
Many people lost their fortunes because they gave someone (a financial advisor or attorney) the authority to make their decisions and handle their money. The advisor may have taken too many chances, been dishonest, or simply incompetent. But, most of all, no advisor can be expected to treat your money with the same respect you do.You don’t need a money manager. Investing is complicated and difficult to understand only if you’re trying to beat the market. You can preserve what you have with only a minimum understanding of investing. You can set up a worry-proof portfolio for yourself in one day — and then you need only one day a year to monitor it. Allowing the smartest person in the world to make your decisions for you isn’t nearly as safe as setting up a safe portfolio for yourself.Above all, never give anyone signature authority over money that’s precious to you. If you should put money into an account for someone else to manage, it must be money you can afford to lose
Rule #9: Don’t ever do anything you don’t understand.
Don’t undertake any investment, speculation, or investment program that you don’t understand. If you do, you may later discover risks you weren’t aware of. Or your losses might turn out to be greater than the amount you invested.It’s better to leave your money in Treasury bills than to take chances with investments you don’t fully comprehend. It doesn’t matter that your brother-in-law, your best friend, or your favorite investment advisor understands some money-making scheme. It isn’t his money at risk. If you don’t understand it, don’t do it
Rule #16: Whenever you’re in doubt about a course of action, it is always better to err on the side of safety.
If you pass up an opportunity to increase your fortune, another one will be along soon enough. But if you lose your life savings just once, you might never get a chance to replace it
Rule #8: Don’t let anyone make your decisions.
Many people lost their fortunes because they gave someone (a financial advisor or attorney) the authority to make their decisions and handle their money. The advisor may have taken too many chances, been dishonest, or simply incompetent. But, most of all, no advisor can be expected to treat your money with the same respect you do.You don’t need a money manager. Investing is complicated and difficult to understand only if you’re trying to beat the market. You can preserve what you have with only a minimum understanding of investing. You can set up a worry-proof portfolio for yourself in one day — and then you need only one day a year to monitor it. Allowing the smartest person in the world to make your decisions for you isn’t nearly as safe as setting up a safe portfolio for yourself.
Above all, never give anyone signature authority over money that’s precious to you. If you should put money into an account for someone else to manage, it must be money you can afford to loss
