Last night, I (Chris) had the privilege to talk by phone for an hour with one of the world’s most legendary traders.
His name is Andy Krieger. And in 1987, when he was just 31, he “broke” the New Zealand dollar (the kiwi).
Andy was betting so heavily against the kiwi, it gapped down 10% in a day. That’s a huge move for a currency. And it netted an estimated $300 million profit for Bankers Trust, the firm where Andy worked.
Andy had such enormous positions in currency markets that when he suddenly quit Wall Street in 1988, Trader Monthly magazine wrote it “practically halted trading around the world.”
What jumped out at me from my call with him was the reason he’s breaking his silence.
You see, Andy is stepping forward after years of silence to publish a new currency-trading advisory.
That’s because he says a “Black Swan” currency event is coming sometime mid-2020. He believes it will cause enormous volatility in currency markets – as well as in stocks and other markets.
And as you’ll see today, although he believes it will be a very dangerous time for many investors… he believes it’s also setting up to be the single biggest moneymaking opportunity of his career.
And that’s saying something. Andy’s bet against the kiwi made him famous on Wall Street and infamous in New Zealand. (The country’s outraged central bank even demanded Bankers Trust stop him from trading the kiwi.)
But as he told me, that wasn’t his biggest… or most lucrative… trade.
He later placed a bearish trade against the German Deutschmark worth $10 billion for a private speculator. It netted a profit of $1 billion.
Our mission at The Daily Cut is to put you ahead of major market moves – early on – so you can profit and protect your wealth.
I (Chris) do that by plugging you into the latest ideas, insights, and recommendations from Doug Casey, Bill Bonner, Teeka Tiwari, Jeff Brown, E.B. Tucker, and the rest of the Legacy Research team.
But from time to time, we also introduce you to experts outside of Legacy who we believe can help really move the needle on your wealth.
That’s why we’re so excited to introduce you to Andy. I can’t think of a better guide for investors entering the lucrative world of currency trading.
Andy has a near mythological reputation among currency traders.
He’s made hundreds of millions of dollars in profits on single trades – several times in his career.
And nearly every foreign-exchange professional has studied his enormous bet against the kiwi.
It’s a staple in many MBA programs as an example of how to use leverage to amplify trading profits.
(The short story, as Andy told me on the phone last night, is that when he saw he was onto a winner, he “let ’em have it.” Many have suggested that he was dealing with more New Zealand dollars than the country had in circulation.)
After his bet against the kiwi, billionaire trader George Soros picked him to be his successor at Soros’ storied Quantum Fund.
But the two found it difficult working together and parted ways after a few months. And in 1988, Andy stepped out of the spotlight altogether.
Since then, he’s traded multibillion-dollar positions in the currency, commodity, and financial markets as an anonymous actor. And to this day, when there’s a big, unexplained move in these markets… folks still wonder if Andy is behind it.
But there’s been no way to know for sure. Andy’s kept to himself… quietly churning out massive trading profits and living his dream lifestyle with his family.
I called Andy from Barcelona, Spain. He told me he knows the country well after living for four years in Madrid. His daughters had wanted to learn Spanish. So Andy took his family there for a real immersive education.
Andy is also a student of Eastern languages (he used to translate Sanskrit, among others). He’s been drawn to Eastern philosophies since his high school years. So he also took his family to India.
While they were there, they ran into somebody whose worldview is truly unique – the Dalai Lama. As Andy recalls…
Being in the presence of this great man, who has such a deep command of himself and uncanny ability to untangle the most complex motivations of mankind, made me remember how important it was to seek all views… not just in my life, but also in my trading. This is something I recommend to every serious trader.
Now, after all his adventures away from the public eye, Andy’s stepping back into the limelight.
It’s all to do with a monumental event he foresees…
And he wants to get his message out about what’s in store… and how folks can not only protect their wealth… but also profit.
That’s why Andy’s stepping forward now and giving his first live interview in decades. It will take place on Thursday, February 20 at 8 p.m. ET. And it’s free to attend online as a Daily Cut reader.
Andy asked me to promise not to reveal too much here.
But what I can say is it involves an unusual pattern of “compression” across a number of major currencies. And Andy believes it’s being caused by all the currencies central banks have been printing up since the 2008 crisis.
Andy is convinced there is a major currency move coming soon… and these moves almost always coincide with major shifts in bond, equity, and commodity markets as well.
Andy believes that, if you position yourself right, you could see massive gains from this move. But as he told me last night, he’s worried for folks who don’t see it coming. Because it could mean potentially dire losses.
I’ll have more for you on Andy and his prediction next week. In the meantime, make sure you secure your spot for his big reveal next Thursday.
February 13, 2020
P.S. Another reason you don’t want to miss Andy’s event…
Seven lucky folks who attend will have the opportunity to get Andy’s best trading research and ideas for free. Here’s that link again to sign up now.
Again, I’ll have more for you on Andy… and the major currency move he sees coming… next week. So keep an eye on your inbox for updates from the Cut.
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