I have a Physics and Engineering background and I tried and failed to make sense of the linked articles. I have no idea what his strategy is and the articles are so littered with nonsense and outright errors that I really didn't try to dig it out. He writes like a parody of Nassim Taleb.
Interestingly, Neither Mark Spitznagel nor Universa Investments L.P. show up as active at at https://brokercheck.finra.org
. Spitznagel doesn't show up at all. "Universa Investments L.P." appears as a previous employer for two guys, both of whom separated from in in 1985 and left the business. They were at Universa for one year, which comprises the totality of their investment advisory experience.
Universa is appears to be listed with the SEC as "previously registered": "Previously Registered indicates the firm or individual is not currently licensed to act as a broker (buying and selling securities on behalf of customers) or as an investment adviser (providing advice about securities to clients)." (https://adviserinfo.sec.gov/firm/summary/146052
There is (sort of) a current form ADV. https://reports.adviserinfo.sec.gov/...PDF/146052.pdf
Very hard to read, though. Page 119 lists some people, but most of their claimed broker numbers don't come up on brokercheck or come up as "previously registered." The COO Brandon Yarckin's credentials include a $50,000 fine and censure by the AMEX.
So, then, the mystery is that Taleb is involved with this firm: https://nassimtaleb.org/2020/05/hist...a-investments/
So I dunno what to think, since I am a Taleb fan.
OP, I suggest that your read Taleb's "Antifragile."