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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

Intro

This chapter explores how hedge fund managers, such as Bill Ackman, capitalize on market calamities, particularly during crises like the COVID pandemic. It highlights the strategies of renowned figures like Nassim Taleb and Mark Spitznagel, focusing on risk management and the implications of black swan events in the current economic landscape.

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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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