Universa Investments Mark Spitznagel
1 universa investments 1.1 tail-hedging 1.1.1 stock market timing calls 1.2 commodities trading universa investments in 2007, spitznagel founded hedge fund universa investments, chief investment officer, , specializes in profiting (and providing type of insurance against) extreme market risk. universa “made 1 of biggest profits on wall street during 2008 financial crisis” (according cnbc), scoring returns of on 100% standard & poor’s 500-stock index lost on third of value, , making spitznagel “a fortune” according wall street journal. spitznagel has said targets “lumpy returns” in trading (what forbes has called “a string of mediocre results interrupted spectacular years”) says “ultimately keep away competitors.” has compared patience , discipline required in betting on rare events “hemingway’s santiago waiting seems eternity catch big fish.” as spitznagel describes “extreme asymmetric payoffs” of approach: we tend lose or draw—most of time—these small battles or skirmishes. but, u...