Sprott posts net income of C$11.4m ($11.1m), sticks to resource stocks

From Bloomberg.com: Sprott Inc., the Canadian hedge-fund manager that posted a profit in its first quarter since becoming a publicly traded company, is sticking to its bets on resource stocks, founder Eric Sprott said.

Sprott, which raised C$200 million ($195 million) when it went public in May, said it will continue to own resource and mining stocks, while betting on declines in financial stocks. Sprott's four main funds have posted returns of between 13 percent and 28 percent this year, he said.

… Net income in the second quarter was C$11.4 million, or 8 cents a share, compared with a year-earlier loss of C$7.7 million, Toronto-based Sprott said today in a statement.

Soros successors Thiel (up 47% YTD), Howard prove global bears rule markets
From Bloomberg.com: Hedge-fund managers following the path of George Soros, who made a fortune by exploiting financial turmoil, are beating their peers for the first time since 2003 on wagers the global economy won't improve anytime soon.

Clarium LP, the San Francisco-based hedge fund run by Peter Thiel, gained 47 percent this year as of July 25 on trades that paid off when stocks and the U.S. dollar fell, according to two of his investors. Alan Howard's Brevan Howard ......................

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