This is a repeat from what I just posted on Harvey's blog:
Wow. I can't believe the entire PM blogosphere has missed this story. For the past year, the paid shills from the Banking industry have been deriding PSLV and trying to push SLV. You've seen them around, I'm sure.
Well, PSLV opened up a year ago, and the results are in, putting all of the BS to rest, Year-Over-Year we have:
PSLV: Up ~60%
SLV: Up ~40%
So, if you were in SLV, you threw money out the window by buying the Bankers Propaganda. Man, that's got to hurt. An expensive lesson, to say the least.
once again we have the only real market left known to mankind with physical metal outperforming paper assets of the same.
how are all the other paper assets doing compared to shiny?
the 20% is premium over nav
measure ie the coming month to see actual running performance
[Edit] I see what you're saying. The premium as of Friday is 16.7 %. But the bottom line still remains, 60% performance versus 40%.
Or, looked at another way, the market is seriously discounting SLV. One would think there'd be a higher reward given that SLV is a lot riskier, but that's far from the case. So one ends up with higher risk and less reward. That's not a winning combination.