According to BusinessInsider Mark Spitznagel is losing tons of money every day running Universa, his $6 billion hedge fund, and he's weirdly calm about it.
Part of the reason is that he only has about 15 investors to answer to, and they have enough money to invest more than $50 million, Universa's minimum investment, in a world doom scenario. (Several sovereign wealth funds, for example, which need to hedge for 2008-type scenarios, are invested in Spitznagel's fund.)
Another is that Spitznagel's fund is currently betting that a huge disaster is coming -- that will cause the S&P to fall 40%, for example -- and until it happens, he'll keep losing money. It's inevitable.
Find out more at:
http://www.businessinsider.com/mark-spitznagel-2011-6
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