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- The "Black Swan" hedge fund that raked in a 4,144% return last quarter warned its clients this week of a bigger crash to come.
- "The world remains very much trapped in the mother of all global financial bubbles," Mark Spitznagel, the chief of Universa Investments, said in a letter to investors obtained by Business Insider.
- "If the pandemic doesn't pop this bubble then, of course, it will be something else that eventually accomplishes this," he added. "This is far from over."
- Spitznagel said he didn't know when the bubble will pop, as "there are no magic crystal balls!"
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The "Black Swan" hedge fund that raked in an astounding 4,144% return last quarter told its investors that the coronavirus sell-off was just a small taste of what's to come.
"The world remains very much trapped in the mother of all global financial bubbles," Mark Spitznagel, the boss of Universa Investments, said in a letter to clients shared with Business Insider by the Milton Financial Market Research Institute.
See the rest of the story at Business Insider
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