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#70 Mark Spitznagel: The Dao of Capital

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The Strategic Patience of Roundabout Investing

This chapter examines tail hedging, rebranded as central bank hedging, and its impact on market distortions that may present investment opportunities. It emphasizes the necessity of roundabout investing and patience in maximizing long-term profits, using historical figures like Henry Ford and Jeff Bezos as illustrative examples.

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