‘Black Swan’ hedge funder Mark Spitznagel insists he’s no permabear: ‘Cassandras make terrible investors’

Mark Spitznagel has developed a reputation as a pessimist over the years. But it’s a distinction the co-founder and CIO of the private hedge fund Universa Investments has earned for good reason. When you warn, time and again, that the Federal Reserve has helped blow up the “greatest credit bubble in human history” and all bubbles eventually pop, investors—and the media—will tend to…