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The Dao of Capital: Austrian Investing in a Distorted World
The Dao of Capital Austrian Investing in a Distorted World Author:Mark Spitznagel �The Dao of Capital: Austrian Investing in a Distorted WorldMark Spitznagel�Ancient Chinese philosophy meets old school Austrian economics in a hedge fund manager's modern-day approach to investing.�Hedge fund investor and�tail-hedging�pioneer�Mark Spitznagel describes his unique investment methodology, weaving two-thousand-year-old�Daoist philo... more »sophy into�century-old�Austrian�economics to form a rigorous, entrepreneurial-cum-value approach that is both timeless and exceedingly applicable�today.Considered today's principal doomsday investor, with one of the top returns of the financial crisis?as well as over a career?Spitznagel illuminates�the market's natural�homeostatic�processes, a focus which�actually runs very contrary to�doomsayers and free market critics. Spitznagel takes us from an old pit-trading sage to the fathers of the Austrian school�to the conifers of the vast boreal forests�to reveal�his central�shi�strategy, where the roundabout trumps the direct, future advantage trumps the immediate victory, and where time takes on a whole�new dimension?what Spitznagel calls�depth of field: not "long term versus short term", but rather an even more challenging appreciation for the intertemporal future.With a sharp Austrian focus on the entrepreneurial functioning of the market, deference for its natural processes, 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 so essential today.����« less