An investor whose fund returned 4,144% in the first ...

Nassim Nicholas Taleb advisories on hedging against a fiat system implosion

Universa Investments, advised by Nassim Nicholas Taleb, recently made a fortune shorting the financial markets and their long-standing penchant for underestimating fat-tail risk. Universa Investments is owned by Mark Spitznagel who is notorious for declaring the following:
I spend all my time thinking about looming disaster.
These profits are still made in dollars. But then again, what if the fiat currencies themselves end up imploding? In fact, Nassim has already advised on the matter in his December 2019 interview with the indiatimes.com:
I only have an idea of what to avoid. Avoid owning treasury bonds, avoid owning some classes of assets; at this point I would avoid stocks simply because they could collapse any time.
Hence, Nassim resolutely advocates against owning any assets in the financial markets, because these markets are going to fall apart. In fact, we already knew about this advice. We also knew that Universe Investment was actively shorting the financial markets.
In the same interview, Nassim advises the following about fiat currencies. When a country (in this example, Lebanon) introduces currency controls, Taleb strongly advocates abandoning the fiat banking system and to use cryptocurrencies instead:
I am realising Lebanon is in a situation where there is an implied currency control but the government cannot control bitcoin which is a good thing because people have no trust and the ability of the central bank which really causes the ponzi style collapse and the bitcoin does not have that.
Gold has its problems. Gold may not be entirely suitable for international trade and associated payments. Nonetheless, Taleb still wants to own gold as a store of value:
Do I like gold? No. But I own that because I am confused and it feels good. If I do not have enough gold, I do not sleep well. If I have enough gold, even if prices collapse, I sleep well. So, may be may body is telling me something about how the environment is moving away from central bank domination.
In a very recent tweet response (16 April 2020) to the deteriorating financial situation in Lebanon, Taleb strongly insists:
Use cryptocurrencies!
Of course, I remain on the outlook for new comments and advisories by Nassim Taleb on a possible fiat system implosion. I am quite confident that the above is not the last thing he will be saying on the matter.
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Mark Spitznagel, the chief of Universa Investments, saw his fund return 4,144% in the first quarter. He explained to CNBC on Monday why tail-risk hedging is generally a "costly and bad strategy." Mark Spitznagel is Founder and Chief Investment Officer of Universa Investments. Spitznagel is the author of The Dao of Capital: Austrian Investing in a Distorted World and was the Senior Economic Advisor to Rand Paul. Mark Spitznagel Mark Spitznagel is a hedge-fund manager. Truthout Dec 10, 2017. Latest from Mark Spitznagel. News Analysis. The Great Bank Robbery. New York – For the American economy – and for many other developed economies – the elephant in the room is the amount of money paid to bankers… by Nassim Nicholas Taleb & Mark Spitznagel, Project Syndicate September 10, 2011. Truthout ... By Mark Spitznagel Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age — the new gold. But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Itt találod a BitcoinBázis naprakész tartalmait Mark Spitznagel címkére keresve. BitcoinBázis Kriptovaluta Hírek – Bitcoin, Ethereum, Blokklánc Technológia, Decentralizáció

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333: What’s Next for Bitcoin, Real Estate Strategic Investing, Mark Moss

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