Safe Haven Investing

[LayC]

I’m working through the Save Haven Series by Mark Spitznagel
Universa Investments | Risk Mitigation
There will be a book by him available by 05/2021 covering this topic more extensively.
Since I don’t want to wait until then to consider his notions for my strategy I’d like to know if anybody has implemented them (concretely) and how he/she has fared meanwhile?

Oliver

 

[pjm-7]

Are you talking "Safe haven" as in off shore investing? If you are I'd run very far and fast from this unless you are prepared to lawyer-up. There's always someone that thinks they figured out to avoid taxes and reporting. It doesn't end well. There are plenty of strategies that can minimize a tax bill.

As it's been said, tax avoidance is legal, tax evasion is criminal.

 

[LayC]

Nope, I’m referring to the investment strategy by Mark Spitznagel a buddy of Nassim Taleb. He compares 3 strategies of which, according to him, the 97% SPX + 3% Insurance is superior to 90% SPX + 10% Alpha or 90% SPX + 10 % Store-of-Value.
Yet, I’m not familiar with the term ‘Insurance’ in the context of investing into it. Could this be an Insurance ETF or what else?

 

[OldShooter]

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/reports/ADV/146052/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/history-universa-investments/So I dunno what to think, since I am a Taleb fan.

OP, I suggest that your read Taleb's "Antifragile."

 

[LayC]

Yes, I'm also a big Taleb fan.

 

[OldShooter]

Yes, I'm also a big Taleb fan.

I'd encourage you to download and at least skim that 125 page ADV. If it weren't for the Taleb connection I would conclude that this guy is a huckster. Taleb's name is not mentioned.