The fund, managed by Universa Investments of Miami, had a year-to-date return of 4,144% through the end of last month, according to an investor letter from President and Chief Investment Officer Mark Spitznagel that was obtained by Bloomberg. The fund was created in the heat of the Global Financial Crisis and aimed to capitalise on the immense market downturn. One example of a " Black Swan " fund is Universa, which was founded by Mark Spitznagel and advised by Nicholas Taleb. Meng started unraveling the initiative of his predecessor, Ted Eliopoulos, almost immediately after joining CalPERS in January 2019. We need to gauge their “portfolio effect”; that is, whether or not they have raised the geometric mean returns of their end users’ entire portfolios by mitigating their systematic risk. The goal of risk mitigation is achieving an optimal protection-cost tradeoff, and this is done through an effective savings in volatility tax, or minimizing negative compounding. The Fed's latest moves to prop up markets and small businesses "feel good" and "look good" in the short run, he said, but "the long-run effects of this stuff is very, very destructive. Mark Spitznagel has an ownership stake in Universa Investments L.P. of more than 75%. All rights reserved. Universa, managed by Mark Spitznagel, a protégé of “The Black Swan: The Impact of the Highly Improbable” author Nassim Nicholas Taleb, managed a little over $4 billion in assets as of the end of 2018. The fund, managed by Universa Investments of Miami, had a year-to-date return of 4,144% through the end of last month, according to an investor letter from President and Chief Investment Officer Mark Spitznagel that was obtained by Bloomberg. The fund, managed by Universa Investments of Miami, had a year-to-d ate return of 4,144% through the end of last month, according to an investor letter from President and Chief Investment Officer Mark Spitznagel that was obtained by Bloomberg. But Mark Spitznagel, president and chief investment officer of Universa, told clients that he wanted to communicate now, given the extraordinary events in March. Universa tells Mark she is on Earth for the planet's energy and will not leave until she gets it. "Think of Universa as your safe haven, your shelter from the unpredictable storm," he said in the letter. Observing how well our safe haven prototypes, particularly the insurance prototype, have held up under these requirements has led us once again, in a highly transparent fashion, to the ways that risk mitigation can go right and how it can go wrong, and the margin of error between the two. Universa Investments L.P. is an investment management firm that has specialized in risk mitigation since it was founded in January 2007 by President and Chief Investment Officer Mark Spitznagel. I think it's enough for people to just be realistic about the risks, realistic about the risk-mitigation strategy. Universa Investments. Universa is an investment management firm that specialises in convex tail hedging and investing. Mark Spitznagel (/ ˈspɪtsneɪɡəl /; born March 5, 1971) is an American investor and hedge fund manager. Universa Investments is a hedge fund company based in Miami, FL. Since 1994, Gunter Henn has been a visiting professor at the Massachusetts Institute of Technology (MIT) in Cambridge. Mark is President; Chief Investment Officer; Limited Partner; and has served as President; Chief Investment Officer; Limited Partner; since 01/01/2007. This is all that really matters in risk mitigation. You can view more information on Universa Investments including private fund info, contact info, top management and executives, website, email addresses, and more below: Universa Investments L.P. is an investment management firm that has specialized in risk mitigation since it was founded in January 2007 by President and Chief Investment Officer Mark Spitznagel. Spitznagel included a chart in his letter showing that a portfolio invested 96.7 per cent in the S &P 500 and 3.3 per cent in Universa's fund would have been unscathed in March, a … In April, The Wall Street Journal reported on a letter to clients in which Spitznagel highlighted the extreme returns his fund strategy saw during the market collapse: The S&P 500 index lost 12% in March, but an investor with 3.3% of assets in Universa's tail-risk strategy and the rest in an index fund tracking the benchmark would have returned 0.4%. Spitznagel answers these questions Hedge fund interest are the tulip mania the Hedge fund manager solution. “I want that asymmetry... that convexity,” he said. 2601 S Bayshore Dr, Ste 2030, Miami, Florida, 33133, United States. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). 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