Reclusive Millionaire Warns Against Cash
Is it time to prepare for the next financial crisis?
Something strange is going on in the financial system.
And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.
Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analysts in the world.
Today, he shuns the spotlight and lives on a remote island off the Florida coast.
And he's built a new life... and a substantial fortune... by sharing a series of eerie predictions. Many of which have proven correct.
On January of 2000, he wrote: "We are at the peak of most likely the greatest financial mania that will ever be seen in our lifetimes."
Next thing you know, the NASDAQ fell more than 75%.
On November 1, 2002, he said, "I expect a real estate bubble to take hold. We don't know how far it will go. But it has likely just begun." You probably remember what happened next- home prices soared.
Then on Friday, March 20, 2009- at the peak of the financial panic, he wrote: "You want to own stocks right now." Stocks have nearly tripled since.
But his latest prediction has caught many Americans completely off-guard.
Dr. Sjuggerud says, "Cash in the bank used to mean something. But I'm telling you- it's going to be a huge, huge source of regret in the months ahead."
He told me, over the next year or two, there's going to be a massive panic out of the traditional banking system.
In fact, it's already begun.
Some of the biggest investors in the world are pulling billions of dollars at a time out of bank deposit accounts...
They're even selling their gold bullion.
And they're putting all this cash in the last place you'd ever expect.
Dr. Sjuggerud is an intensely private man. But he was recently prodded by a friend- one of the most successful investment analysts in the world- to share the details of his stunning research with the general public.