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In 1995, together with three other traders at the Phibro division of Salomon Inc., now Citigroup, I thought silver was inexpensive at $5 per ounce. Together, we invested $1 billion in silver, buying physical silver bullion and storing it in London at a
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The author always has positions in commodities markets in futures, options, ETF/ETN products, and commodity equities. These long and short positions tend to change on an intraday basis. The author is long silver.
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