36 South Capital Advisors LLP, whose Black Swan Fund returned 204 percent in 2008, is starting a new hedge fund targeting Australian institutions seeking protection from market downturns and additional returns.
Mark Spitznagel pushes the throttles on his new twin-engine Chris-Craft Corsair 28, slicing through Grand Traverse Bay in northern Michigan on a warm day in late July. As the speedboat reaches more than 50 miles per hour, Spitznagel’s blond hair flying in the wind, he churns up a big wake.
Nassim Taleb believes in probabilities, not predictions, but at times it can be hard to tell the difference. “The real Black Swan event,” he said in June, “is that people are not rioting against the banks in London and New York.”