Hedge Fund Manager Predicts Coming 'Greatest Crash in History' But Still Advises Buying Stocks Long-Term
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Mark Spitznagel's hedge fund Universa invests in options that pay off if the market crashes, acting as "insurance" for investors.
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Spitznagel believes the Fed's easy money policies since 2008 have created the greatest credit bubble in history that will inevitably burst.
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He thinks the Fed will have to reverse course and lower rates again to prevent an uncontrollable crash, kicking the can down the road.
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While a huge crash is inevitable, he still recommends buying stocks like the S&P 500 for long-term investors with a 20+ year timeframe.
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Crypto like Bitcoin is a pure speculative risk asset in Spitznagel's view, but he'd buy it as a speculative bet if forced to make one trade.