Mark Spitznagel (born March 5, 1971) is an American investor, farmer, and author.
Spitznagel is known for his über-bearish “Austrian”-based stock market investing and pioneering “tail-hedging,” and most notoriously for his hugely profitable billion dollar derivatives bet on the stock market crash of 2008. Spitznagel's investment performance ranks as one of the top returns on capital of the financial crisis, as well as over a career. He is among The Wall Street Journal's "5 hedge-fund managers to watch of Wall Street’s biggest, boldest investors."
Spitznagel is the founder, owner, and Chief Investment Officer of the multi-billion dollar hedge fund management company Universa Investments, L.P., based in Southern California. Spitznagel reportedly has large Chinese and Middle Eastern sovereign wealth funds among his investment partners, and he has since closed his funds to new investors. Prior to hedge fund manager, Spitznagel has been an independent pit-trader at the Chicago Board of Trade and the head of equity options in a secretive proprietary trading group at Morgan Stanley in New York (until they requested that he sign a stringent “noncompete” agreement). Spitznagel has a graduate degree from New York University and undergraduate from Kalamazoo College in Michigan.
Read more about Mark Spitznagel: Financial Crisis, Austrian Economics and Investing, Libertarianism, Chicago Pit Trading, Tail Hedging, Personal Life, Publications
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“For this is the mark of a wise and upright man, not to rail against the gods in misfortune.”
—Aeschylus (525–456 B.C.)