How to trade like the investor who made $1bn in a day
Mark Spitznagel won’t reveal how he made a 4,144% return, but he does discard plenty of rival trades
Mark Spitznagel thinks it would be “worthless” to explain how he made a 4,144% return in the first quarter of 2020 by betting on tail risks in financial markets.
The trade that paid off so spectacularly does not appear in his new book, Safe Haven: Investing for Financial Storms, and he refuses to confirm reports that attribute his stellar returns to the use of out-of-the-money options.
“I didn’t
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Investing
Trend followers search for answers after a year to forget
Quants have new ideas to address strategy’s vulnerability to reversals
Liquidity in private markets: the structural and data challenge
How structural and data-driven innovation are converging to address the liquidity challenge in private markets
Credit default swaps break through fourth wall
Fourth-trigger CDS trading ramps up as more protection sellers enter field
Growth in China snowball lookalikes sparks questions
New products include tweaks to sidestep restrictions, but some believe they don’t go far enough
Hedge funds cut BoJ bets after torrid year in yen rates
Dealers see lighter positioning after shock October election saw more than $300m of losses, compounding April’s pain
Want to be a quant? Here’s how (and how not) to get hired
Stay curious, be a team player, speak well – and don’t be big-headed
Risk Awards 2026: The winners
Citi claims top derivatives prize, lifetime award for Dennis McLaughlin, JP Morgan wins equities
The options experts who think vol selling is a broken trade
Some say the equity volatility risk premium has vanished, others say it comes and goes
