A $6 billion ‘black swan’ hedge fund run by libertarian Mark Spitznagel is moving from California to Miami thanks to ‘business-friendly policies’.
Universa Investments, a ‘fat tail’ fund, will make the move to Coconut Grove on March 1 and expand to 25 employees.
Spitznagel told the New York Times last fall that he expects the stock market to plunge again by at least 40 percent, and has been buying puts in anticipation of a decline. Universa’s fund rose 115 percent during the 2008 stock market collapse, but Spitznagel believes that the crisis has not ended yet.
Spitznagel is a devotee of the ultra-conservative Austrian school of economics. He also is a major contributor to Ron Paul.