TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson

<p>On today’s episode, Clay chats with Scott Patterson about his new book - <em>The Chaos Kings</em>.&nbsp;</p><p><em>The Chaos Kings </em>tells the story of the hedge fund that achieved average annual returns of over 105% from 2008 through 2019, and how Bill Ackman had a $27 million dollar bet that turned into over $2.6 billion.&nbsp;</p><p><br></p><p><strong>IN THIS EPISODE YOU’LL LEARN:</strong></p><p>00:00 - Intro.</p><p>02:35 - Who the Chaos Kings are.</p><p>05:38 - The story of Nassim Taleb and Mark Spitznagel setting up a hedge fund that delivered average returns of 105% annually.</p><p>06:12 - How these hedge funds profit tremendously during times of calamity.</p><p>16:14 - What led Nassim Taleb to get interested in the markets.</p><p>24:55 - Why we should be mindful of just how uncertain the world and our global economy is today.</p><p>complexity theory - What complexity theory is.</p><p>28:51 - How investors can protect themselves from a black swan event.</p><p>45:02 - How Taleb and Spitznagel viewed the world differently than conventional wisdom.</p><p>53:12 -How predictable Black Swan events are.</p><p>57:41 - Looming Black Swans that Taleb sees in today’s world.</p><p>60:49 - What the precautionary principle is.</p><p>63:23 - Taleb and Spitznagels take on the systemic risks in the financial system today.</p><p><br></p><p><em>Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES</strong></p><ul><li>Check out our newly released <a href="http://theinvestorspodcast.com/mastermind" rel="noopener noreferrer" target="_blank"><strong>TIP Mastermind Community</strong></a>.</li><li>Scott’s new book - <a href="https://www.amazon.com/Chaos-Kings-Street-Traders-Billions/dp/1982179937?&amp;linkCode=ll1&amp;tag=tipnetwork-20&amp;linkId=bd833de968b784afc91d68925edd3ebb&amp;language=en_US&amp;ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank"><strong>The Chaos Kings</strong></a>.</li><li>Scott’s <a href="ht