Mark Spitznagel is the founder and Chief Investment Officer of California-based Universa Investments LP.

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Such options give Universa the right, but not the obligation, to sell or buy stocks or commodities.

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Mark Spitznagel is the founder of Universa Investments LP, a hedge fund manager based in southern California.

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Universa is the only hedge funds that has a track record in effectively making money by betting on black swans.

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