A"Black Swan" hedge fund posted a 4,144% return last quarter after the novel coronavirus tanked markets.The Wall Street Journal reported.Spitznagel — a protégé of Nassim Nicholas Taleb, the author of"The Black Swan: The Impact of the Highly Improbable" — warned that markets will fall further.
"For people who are worried about having missed it, this sell-off has only taken back a few months of gains," he told The Journal."I expect a true crash to take back a decade."A"Black Swan" hedge fund that specializes in profiting from market shocks posted a 4,144% return last quarter thanks to the coronavirus sell-off.
Universa Investments chief Mark Spitznagel touted the stunning 40-fold gain from the fund's tail-risk hedging strategy in a recent letter to clients,If an investor had just 3.3% of their assets in Universa and the balance in a S&P 500 tracker fund, they would have made a 0.4% return last month despite the benchmark slumping more than 12%, the newspaper said.
Spitznagel is a protégé of Nassim Nicholas Taleb, the author of"The Black Swan: The Impact of the Highly Improbable." He worked at Taleb's now-closed Empirica Capital, and Taleb serves as Universa's scientific advisor."If the pandemic doesn't pop this bubble then, of course, it will be something else that eventually accomplishes this," Spitznagel said.
I'll take 'what is shorting a stock' for $400 Alex!
But how much loss the past years since 2008 rebound ..?
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