Today a legendary trader and investor warned King World News that a 1987-style crash is coming, and for now he says investors need to hold on to their gold. Last week he warned that we would see an “avalanche of selling.”
The next day the Dow plunged more than 300 points and has continued lower ever since. Victor Sperandeo has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros.
Incredibly, Sperandeo was interviewed in Barrons in September of 1987, where, with astonishing accuracy, he predicted that the stock market would crash. The market crash took place one month later and it just added to his legendary reputation. Below are the warnings issued by Sperandeo.