Black Swan Event Looms: Bear Says 'Euphoric' Rally Will Soon End in 1929-Like Crash – 'I Remain The Crash Guy'

Today's market resembles the period just before the 1929 crash, Universa Investments Chief Investment Officer Mark Spitznagel said in a recent interview with the Wall Street Journal, warning that the ongoing rally may soon come to an end. Spitznagel's fund makes money by betting on rare but extreme market crashes caused by "Black Swan" events. The term was popularized in the book "The Black Swan" by investor and mathematical statistician Nassim Nicholas Taleb, who is also an advisor to the fund.