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TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson
Jun 9, 2023
Scott Patterson, a seasoned reporter and author of "The Chaos Kings," discusses hedge fund legends like Bill Ackman and Nassim Taleb, who capitalized on market crashes. He reveals how Ackman transformed a $27 million bet into over $2.6 billion. Patterson dives into Taleb's philosophy on 'black swan' events, complexity in financial markets, and the urgent need for investors to brace themselves for uncertainty. He critiques traditional finance views, advocating for a fresh look at risk management and accountability in today's volatile economy.
58:17
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Quick takeaways
- Hedge funds like the Chaos Kings thrive in times of chaos by anticipating risky events for explosive returns.
- Protecting against black swan events involves risk management strategies to safeguard from major market downturns.
Deep dives
Who are the Chaos Kings?
The Chaos Kings are traders or investors who prosper during times of chaos. Mark Spitznagle and Nassim Taleb are among them, focusing on trading around risky events. For instance, Bill Ackman made billions anticipating the COVID crisis. Spitznagle explains his strategy as aiming for explosive returns during chaotic times, like his recall of past successes, such as the 1987 Black Monday crisis.
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