Navigating Fragility in Global Markets | 13min snip from We Study Billionaires

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TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson

We Study Billionaires - The Investor’s Podcast Network

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CHAPTER

Navigating Fragility in Global Markets

This chapter examines the complexities and interconnectedness of global financial systems, using the 2008 crisis and COVID-19 as key examples. It also discusses the significance of 'black swan' events, offers investment strategies for stability, and highlights the unique risk management of Universa in contrast to traditional methods.

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Episode notes

On today’s episode, Clay chats with Scott Patterson about his new book - The Chaos Kings.

The Chaos Kings tells the story of the hedge fund that achieved average annual returns of over 105% from 2008 through 2019, and how Bill Ackman had a $27 million dollar bet that turned into over $2.6 billion.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:35 - Who the Chaos Kings are.

05:38 - The story of Nassim Taleb and Mark Spitznagel setting up a hedge fund that delivered average returns of 105% annually.

06:12 - How these hedge funds profit tremendously during times of calamity.

16:14 - What led Nassim Taleb to get interested in the markets.

24:55 - Why we should be mindful of just how uncertain the world and our global economy is today.

complexity theory - What complexity theory is.

28:51 - How investors can protect themselves from a black swan event.

45:02 - How Taleb and Spitznagel viewed the world differently than conventional wisdom.

53:12 -How predictable Black Swan events are.

57:41 - Looming Black Swans that Taleb sees in today’s world.

60:49 - What the precautionary principle is.

63:23 - Taleb and Spitznagels take on the systemic risks in the financial system today.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Scott’s new book - The Chaos Kings.
Scott’s website.
Check out our recent episode covering the 2023 Berkshire Hathaway Shareholder Meeting or watch the video.
Follow Clay on Twitter.

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