Rand’s Economic Adviser: If Investors Thought August Was Scary, “They Ain’t Seen Nothin’ Yet”
Mark Spitznagel is a hedge fund manager and just so happens to be a senior economic adviser to the Rand Paul campaign. He also made a billion bucks on Black Monday (a few weeks ago). Recently a guest on FOX Business, he unloads on The Fed and warns,“if August was scary for people, they ain’t seen nothin’ yet.”
From the NYT back in June:
…In his own statement, Mr. Spitznagel credited Mr. Paul as the only presidential candidate who understood “the destructive ramifications” of the Fed’s current policy. “I look forward to working with him on his ideas and message to change that policy,” Mr. Spitznagel said.
Mr. Spitznagel, who is 44, gained credibility for predicting two market routs over the last decade, first in 2000 and then in 2008. In the 2008 financial crisis, his Universa funds rose by 115 percent as the Standard & Poor’s 500-stock index plummeted. Mr. Spitznagel believes the next market rout is coming soon.
Scared yet?