Black Swan Fund Advised by Taleb Pounces on Vanishing Volatility
- Low volatility cheapens options for doomsday-hedging strategy
- Central banks dictate asset prices, says Universa’s Spitznagel
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There’s a silver lining for bears getting destroyed by record U.S. stock prices and the relentless credit boom: Prepping for Armageddon has rarely been so cheap.
Just ask Mark Spitznagel, the Miami-based investor whose $4.1 billion black swan fund specializes in hedging against cataclysms on the scale of the dot-com crash and the 2008 financial crisis.