THE DAO OF CAPITAL. Austrian Investing In A Dist

More than two-thousand-year-old Chinese philosophy meets century-old Austrian economics in a hedge fund manager's modern-day approach to investing In this new book, hedge fund investor and tail-hedging pioneer Mark Spitznagel describes his unique methodology of investing, weaving ancient Daoist philosophy into Austrian economics to reveal a rigorous, entrepreneurial- cum -value approach that is particularly applicable today. Considered one of today's principal doomsday investors, Spitznagel's focus on what he calls the market's natural homeostatic processes actually runs very contrary to doomsayers and free market critics. From a pit-trading sage to the conifers of the vast boreal forests, Spitznagel reveals his central Shih strategy, a distinctive and cognitively challenging appreciation of the dimension of time-not long term versus short term, but rather an appreciation for the intertemporal future, gaining future advantage rather than immediate success.

Spitznagel presents three central tenets in The Dao of Capital, drawn from the Three Treasures of Daoist philosophy. Patience-to prepare for and fully exploit intertemporal opportunities through time Nonaggression and humility-to go where others shun Economy-of means, thought and action, to thus limit vulnerabilities and exposures With a sharp Austrian focus on the entrepreneurial functioning of the market, deference for its natural process, and contrarian bias toward government intervention-driven imbalances and distortions, The Dao of Capital and its Austrian investing methodology provide a profound harmony with the market process-a harmony that is essential today.