Mark Spitznagel at the 2022 Prime Quadrant Conference
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- Опубліковано 10 лют 2025
- Mark Spitznagel, Founder & Chief Investment Officer of Universa Investments, at the 2022 Prime Quadrant conference. pqconference.com
The Prime Quadrant conference is an annual event, bringing together over 400 investors in support of pediatric care and mental health.
The conference is for family offices and ultra-high net worth investors who can benefit from interacting with the brightest minds in the investment world, featuring some of the most successful investment managers, best-selling authors, and thought leaders, as they share their best insights and ideas.
Perhaps the best interview of Mark Spitznagel I've seen. Highly recommended.
One of the best interview from Mark. I hope the puts option premium will keep staying low for the next 100 years as most people don't really understand this tail hedging strategy..
I’m sure they do understand it. It’s just that psychologically it’s a very hard strategy to endure real implementation of.
Thank you for uploading this.
He says "any risk mitigation strategy that requires a forecast is just simply doing it wrong". This is very similar to my statement that "any manufacturing process that requires skill is the wrong approach to manufacturing".
Universa is like LTCM's counterparty.
Started reading the Dao of Capital by Mark Spitznagel. Thinking about making a book summary on it!
Want to collab on review . I’ve been reading as well. Helps to digest ideas to co readers .
@@ConsciousnessExplored Nice, interested to collab. I've been reading Economics in One Lesson by Hazlitt and now Human Action by Mises to understand better the thought-process of Spitznagel. Send me an email, it's in my about page.
occassionally
Mark is true pro
frequency
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organise my finances prior to retirement. Could you provide me with access to your advisor?
CELIA KATHLEEN MARTEL is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
The dude is no joke
Dude is pretty evasive about his actual strategy and whether or not it improves geometric returns from reducing drawdowns or whether or not the positive skew of buying puts is profitable on a standalone basis
why would he give you the secret sauce
Can you rephrase that word-salad sentence for laymen?
Barbell strategy
I love your intellect Mark. How to connect?
That "yea" at 4:12 sounds like the dude just didn't care I don't know why
Honestly, guys, I really think the only thing you need to do to understand tail hedge investing is to play the game Othello with another smart person sometime. Play it over and over and you will eventually understand this strategy. Learn how to play a loooooong game …
He’s great. Nothing actionable for the average investor though. Who doesn’t want to be long puts without it being a drain to your portfolio. So, he accomplishes this by having alpha in his option picks. I wonder what his 2022 return was, anyone has insight to this? My best guess would be he cleans up in a 20% overnight crash but the same 20% down over a year might not offset much off your SP500 losses at all.
That's correct. Look up put ratio back spreads
That is so true. It’s sad that the average investor cannot take advantage of this strategy until their portfolio has grown either through luck or alpha. Buying puts is an incredible drain when you have very little money to begin with …
12:12 LOL "10 bagger"
.. coin toss isnt even.
See Persi Diaconis.
He is so annoying, just tell us wtf the strategy is? So buying puts and leveraging the whole portfolio??
He is Autistic mate 😂. Takes an Autistic to know one. This man thinks he is clearly explaining his strategy, but he cannot see his communication is terrible.
He talks in circles without any solutions. They ask about his strategy and he goes off on a tangent.
why should he give away his strategy ?
I used to think that too. First I had to study options and trade them ❤️ for several years before I could understand what he was talking about.
Why would he give his secrets away?
@@torosytoros Fair point. If he gave away his methods of finding cheap insurance everyone would buy it and it wouldn't be cheap anymore. It took me years to find that cheap insurance, and I'm definitely not going to tell anyone outside of close family members.
@@dennykeaton9701 Exactly. As a quant finance student myself, I haven't found it yet, but I have some sort of idea regarding that. Once you understand the greeks, you understand how it is possible, at least on paper, to have those explosive returns. He probably acts as a kind of market maker and profits on the change in price of the option, not on the payoff of the option itself.