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Informationen zum Autor Mark Spitznagel is the founder and President of Universa Investments, an investment advisor that specializes in equity tail-hedging?or profiting from extreme stock market losses as a means of enhancing investment returns. In addition to hedge fund investing, Spitznagel's twenty-year investment career has ranged from independent pit trader at the Chicago Board of Trade to proprietary trading head at Morgan Stanley. He also owns and operates Idyll Farms in northern Michigan. Klappentext Praise for The Dao of Capital "A timely, original, right-economic principles and history-based approach to investing. Drawing on impressive philosophical building blocks, The Dao of Capital illuminates the wellsprings of capital creation, innovation and economic progress. Dazzling!" - Steve Forbes, Chairman and Editor-in-Chief, Forbes Media "This is a magnificent, scintillating book that I will read over and over again. Every page is eye-opening, with numerous areas for testing and profits in every chapter. Here's an unqualified, total, heartfelt recommendation, which coming from me is a rarity, and possibly unique." - Victor Niederhoffer, Author of The Education of a Speculator " The Dao of Capital is an impressive work. Spitznagel's approach is refreshing-scholarly without being tedious. What a broad look at economic history it provides!" - Byron Wien, Vice Chairman, Blackstone Advisory Partners LP "Wall Street gamblers who believe the Fed has their back need to read this book. Mark Spitznagel provides a brilliant demonstration that the gang of money printers currently resident in the Eccles Building have not repealed the laws of sound money nor have they rescinded the historical lessons on which they are based." - David Stockman, Former U.S. Congressman, Budget Director under Ronald Reagan, and Author of The Great Deformation "Mark Spitznagel assembles the best insights in human nature and economics to bring order out of the chaos of our world. Economists, investors and lay persons alike will find abundant treasures in The Dao of Capital , one remarkably useful and exciting book!" - Lawrence Reed, President, Foundation for Economic Education and President Emeritus, Mackinac Center for Public Policy "The Dao of Capital: Austrian Investing In A Distorted World by Mark Spitznagel (Wiley, 2013) is a beautifully crafted book, one I can recommend to readers of all political/economic persuasions... it is impossible not to be shaped by its carefully presented history and logic." Zusammenfassung As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, one gains by losing and loses by gaining. Inhaltsverzeichnis Foreword xvii Introduction xxiii Chapter One: The Daoist Sage Klipp's Paradox 1 The Old Master 3 The Soft and Weak Vanquish the Hard and Strong 6 Into the Pit 9 The Privileges of a Trader 12 Robinson Crusoe in the Bond Pit 15 Fishing in "McElligot's Pool" 18 Enter the Austrians: A von Karajan Moment 18 A State of Rest 21 Guiding into Emptiness 23 Moving On 26 The Wisdom of the Sages 29 Chapter Two: The Forest in the Pinecone The Roundabout and the Logic of Growth 33 The Forest and the Tree 36 The Slow Seedling 39 Wildfire and Resource Reallocation 41 The Conifer Effect 43 A Logic of Growth 49 Chapter Three: SHI The Intertemporal Strategy 51 The Dao of Sun Wu 56 Shi and the Crossbow 58 Li-The Direct Path 59 Shi and Li at the Weiqi Board 60 A Common Thread, from East to West 64 An Attack of Misunderstanding 68 On War-An Indirect Strategy...
