TechFlow News, February 18: According to JIN10 Data, Mark Spitznagel, founder and chief investment officer of the “Black Swan Fund” Universa Investments, stated that the U.S. stock market’s multi-year rally is far from over—at least for now.
In his recent letter to investors, Spitznagel wrote that over the next year, markets will remain in a “Goldilocks zone—declining inflation and interest rates, slowing but not overheating economic growth, and investor sentiment turning euphoric—leading equities to continue rising and culminating in a sharp surge.” However, he added that “the largest bubble in human history” has now entered its final stage.
Spitznagel’s hedge fund, which has operated for nearly two decades, specializes in tail-risk hedging—protecting investors’ portfolios against the next major market crash. He maintains that as long as the economy remains resilient, equity markets will continue to rise—a view he has held since late 2022. In an interview, he noted that market euphoria could push the S&P 500 Index to 8,000 or higher—followed by a sharp reversal.
