It's probably going to be hot and much in demand as investors recall once-controversial predictions of founding guru Eric Sprott that have come true.

What's odd about this is that while IPOs mostly thrive on optimism about the future, Sprott, 63, is best-known for predictions of doom for the financial system.

A recent sample: "We're in a systemic financial meltdown. There are probably 10 companies that are broke that are still trading.'' Another prediction: Gold is going to US$2,000 an ounce in this cycle.

These opinions could be written off as those of a maverick contrarian if the record did not show a series of big-picture and highly profitable timing calls such as on uranium around US$10 in 2003. Recent price: US$71. A closer look at the investing style of his flagship Sprott Canadian Equity Fund reveals, however, that the fund's standout 28% return over the past 10 years was very much the result of successful bets on tiny unknown speculative stocks.

Big-company stocks don't turn Sprott on. Indeed, they are often the targets of his short-selling prowess.

For many of us this performance might be viewed as the triumph of hope over experience, like a second marriage, according to that old curmudgeon Samuel Johnson. Certainly, it required a lot of optimism. Such bets and timing calls don't always work out, of course, even for Sprott.

A look at individual annual returns shows that buying into this style provides a bumpy and nerve-wracking ride. The fund's best year recorded a 100% gain. The worst served up a 39% plunge.