Rand Paul Names Hedge Fund Chief Mark Spitznagel as Economic Adviser

[jct74]

Rand Paul Names Hedge Fund Chief Mark Spitznagel as Economic Adviser

By ALEXANDRA STEVENSON
JUNE 19, 2015

Senator Rand Paul of Kentucky has appointed Mark Spitznagel, the hedge fund manager, as a senior economic adviser as he seeks the Republican presidential nomination.

At first blush, the two might seem like an odd pair. Mr. Spitznagel is the founder of Universa Investments, a $6 billion hedge fund that is set up to make money in an economic crisis.

But the two share a similar outlook on the government’s role in the financial markets: that it should not have one.

...

Mr. Spitznagel, who is 44, gained credibility for predicting two market routs over the last decade, first in 2000 and then in 2008. In the 2008 financial crisis, his Universa funds rose by 115 percent as the Standard & Poor’s 500-stock index plummeted. Mr. Spitznagel believes the next market rout is coming soon.

...

His thinking is shaped by the Austrian school of economics, which has its roots in 19th-century Vienna and makes the argument that the government should not meddle in any part of the economy because when it does, it causes all kinds of distortions.

...

Mr. Spitznagel is also a friend of Mr. Paul’s father, Ron Paul, a former Texas congressman and presidential candidate. The elder Mr. Paul wrote a foreword in Mr. Spitznagel’s book, “The Dao of Capital” (Wiley, 2013), in which Mr. Spitznagel outlines his philosophy of the markets.

read more:
http://www.nytimes.com/2015/06/20/b...hief-mark-spitznagel-as-economic-adviser.html

 

[Warlord]

What happened to Peter Schiff!

 

[timosman]

Rand should get Brooksley Born as an economic adviser - http://wallstreetonparade.com/2015/...g-the-uncomfortable-truths-about-wall-street/

This would send shivers down the neocons spine.

 

[Inkblots]

Do you suppose this Spitznagel is willing to adopt a PAC and dump a lot of money into the campaign?

 

[Krugminator2]

It would have been demoralizing if this didn't happen. I'm glad Spitznagel is on board this early and giving a solid endorsement. He's a pretty big deal.

 

[eleganz]

Spitznagel hosted a fundraiser for Ron in Manhattan Beach 2012, it happened a little late into the process but still happened.

 

[Foreigner]

Hard to say how rich this guy really is. This is from a story written by Men's Health (where his brother works):

"We're not entirely sure of Mr. Spitznagel's net worth, but it's a lot. It's reportedly in the billions, but we can neither confirm nor deny this. Which is weird, because this story was edited by his older brother, who just so happens to be a full-time employee of Men's Health. All he could tell us is that his brother once lived in a house with a moat—a freaking MOAT, like it was a castle that was constantly invaded by Spanish conquistadors—and now he lives in a different, slightly larger house, which has no moat but is surrounded by hedge mazes so big you can see them from space."

So maybe 1-2 billions? Difficult to say for sure, he invested 100 million into Idyll Farms, his own sustainable agricultural firm.

 

[Rudeman]

Nice, it looks like things are starting to look better for Rand from a financial aspect.

 

[NoOneButPaul]

This guy is a genius. Fantastic pick.

 

[Vanguard101]

MY LIFE IS FUCKING COMPLETE. I LOVE SPITZNAGEL

 

[SilentBull]

Just bought his book, "The Dao of Capital". Very interesting so far. I didn't even know who he was until Rand got him on board.