The Dao of Capital

This book by Mark Spitznagel came up once on Lex Fridman in the episodes we index. That mention was a genuine on-air recommendation, not just a passing reference. The people who brought it up: guest. Every occurrence below links to the episode page and to the exact second it was said on YouTube.

"As today's preeminent doomsday investor Mark Spitznagel describes his Daoist and roundabout investment approach, "one gains by losing and loses by gaining." This is Austrian Investing, an archetypal, counterintuitive, and proven approach, gleaned from the 150-year-old Austrian School of economics, that is both timeless and exceedingly timely.In The Dao of Capital, hedge fund manager and tail-hedging pioneer Mark Spitznagel--with one of the top returns on capital of the financial crisis, as well as over a career--takes us on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategi…