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News Link • Economy - Economics USA

Spitznagel: "Hard Assets Will Return... The Heartland Will Matter Again"

•, P.J. O**Q**Rourke

Of course, I admire his success. He is the "Ursa Major" among bears, having correctly (and very profitably) called the stock market crashes of 2000 and 2008.

Since then he has "fenced the bull" with his multibillion-dollar Universa Investments hedge fund that not only actually hedges (something many hedge funds, busy making huge derivative bets, forget to do) but is also structured to profit in rising markets.

Mark is an intellectual investor. In his book, The Dao of Capital, he combines the rigorous logic of libertarian Austrian economics with the Chinese philosophical tradition of harmonious flow of natural forces. (Hint: Central banks aren't a natural force.) Forbesmagazine called it "one of the most important books of the year, or any year for that matter."

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