09 abril 2020

Taleb, Covid-19 e o retorno de 3.600%

A tail-risk hedge fund advised by Nassim Taleb, author of “The Black Swan,” returned 3,612% in March, paying off massively for clients who invested in it as protection against a plunge in stock prices.

The fund, managed by Universa Investments of Miami, had a year-to-date return of 4,144% through the end of last month, according to an investor letter from President and Chief Investment Officer Mark Spitznagel that was obtained by Bloomberg. He said Universa was able to cash in many of its positions, locking in the gains, while also keeping in place protection against more equity sell-offs, “one of the tricks of the trade.”


“Looking ahead, the world remains very much trapped in the mother of all global financial bubbles,” Spitznagel, 49, wrote. “It’s the systemic vulnerabilities created by this unprecedented central-bank-fueled bubble, and the crazy, naive risk-taking and leverage that accompanies it, that makes this pandemic so potentially destructive to the financial markets and the economy.”

Fonte: aqui

Universa Investments L.P.

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