Just wanted to corroborate that the euro pacific capital buy and sell commissions are both 3% (according to what a rep there told me).

In "Crash Proof", Schiff argues against ADRs:

"...ADRs are issued only be the largest foreign companies. .. Also, banks incur costs in creating ADRsa dn sometimes keep part of the dividend to cover their services... Another possible drawback is tah tthe underlying companies that sponsor ADRs are subject to the sometimes excessive... regulation American companies must comply with... Many well-run foreign companies choose not to subject themselves to onerous and costly regulations when they can avoid it."

I suppose, according to this thinking, if most of the companies GG recommends have ADRs, then GG might be missing a number of good investment opportunities. Still, if the GG companies are sound, maybe ADRs are a good way to go so one doesn't have to pay the 3% commission.

DrG9