A hedge fund advised by Nassim Nicholas Taleb, the man who popularised the “black swan theory,” made a killing on Monday.
The Wall Street Journal’s Juliet Chung reports that Mark Spitznagel’s Miami-based Universa Investments was up 20% on Monday.
The fund netted about $US1 billion in profits over the course of the week, some realised and others on paper, according to the report.
We reached out to Universa for comment.
Taleb, the author of “The Black Swan” and “Antifragile,” serves as a scientific advisor to Universa. A “black swan” is an unexpected and rare event that has significant consequences.
It is the sort of thing that hedge funds like Universa are made for.
NOW WATCH: 6 mind-blowing facts about Greece’s economy
Business Insider Emails & Alerts
Site highlights each day to your inbox.