Daily Bell: Thanks for spending some time with us. Let's revisit and update some questions from previous interviews with you. Provide readers with a bit of background. You began as a broker. When did you go out on your own and why?
Rick Rule: I guess I really and truly went out on my own in 1991 when I formed my own brokerage firm, which was called Global Resource Investments. To avoid liable and slander charges, I won't talk about all the experiences that lead me to believe that I could only trust my clients to myself rather than to other firms. It suffices to say, I decided I could serve my clients better on my own than in any other prior arrangements I had with financial services providers.
Daily Bell: Are you happy with the way things have gone for Global Resource?
Rick Rule: Yes. I reached the point in growing Global where I was spending too much time running the business and not enough time managing money. My clients hired me to manage money. I had noticed that Eric Sprott had gone through the same transformation himself and built a team around him to manage the business management, while he went back to managing money. In selling Global and the related companies to the Sprott organization, I allowed myself to sort of append Eric's successes in creating an institution and an appropriate part of that institution for myself so I could go back to doing what I really like to do, which is securities analysis and money management.