• Safe Haven

  • Investing for Financial Storms
  • By: Mark Spitznagel
  • Narrated by: Fred Berman
  • Length: 6 hrs and 42 mins
  • 4.4 out of 5 stars (108 ratings)

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Publisher's Summary

What is a safe haven?

What role should they play in an investment portfolio? Do we use them only to seek shelter until the passing of financial storms? Or are they something more? Contrary to everything we know from modern financial theory, can higher returns actually come as a result of lowering risk? In Safe Haven, hedge fund manager Mark Spitznagel - one of the top practitioners of safe haven investing and portfolio risk mitigation in the world - answers these questions and more. Investors who heed the message in this book will never look at risk mitigation the same way again.  

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2021 Mark Spitznagel (P)2021 Audible, Inc.

What listeners say about Safe Haven

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blah

This has little to do with financial safe havens, the author sounds like he just likes to hear himself speak about intellectual idea and stories that have little to do with the topic. There's no substance to this gibberish

2 people found this helpful

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Excellent book

I loved it.
Every investor should have this one.
Demons, Dices, Treasures, Gold, Multiverse, amor Fati.

2 people found this helpful

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Not worth

Very bad
Can not believe such a long book no content at all
Not worth

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I would read Fortune's Formula first

I think some major parts of this story are introduced more accessibly, systematically and clearly in Poundstone's book Fortune's Formula. This is a nice follow-up though, in my eyes, with more development of, and branching from, that line of thinking. It is, like The Dao of Capital by this author, very elliptical, not direct, a sort of opener to various lines of thinking.

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Author just wanted to hear himself talk about how brilliant he is.

It is a waste of time listening to extraneous bravado, rather clear and useful information.

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Nice Book with good ideas.Narrator Ok

A very thought provoking book with novel ideas Good explanation of concepts and mathematics.

A little short on finding the proper tools for mitigating risk. I am assuming one needs to understand options— most likely buying out of the money puts on the SP500.

The real art is price these option to minimize the cost and maximize return.

I found the narrator voice sightly rushed and pushed. A mellow, calm voice or the authors voice may be better

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Fascinating concepts for reducing risk while increasing returns, but without practical application e xamples

He should be able to summarize this book in one page of narrative and leave the rest of the charts and graphs to prove it if you want to bother to follow his mathematical solutions

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  • John Elmers
  • 08-10-22

A few nice insights (not applications) sandwiched between grandiosity

The book makes nice points about the relationship between safe haven assets and cumulative returns. A key point is such assets may seem trivial on their own, but can wield significant effects on your portfolio, paying out big in catastrophe and preserving your wealth for compounding. He makes some nice points and shows some math (and intuition). This is nice!

Yet, the book is incredibly bloated and thin on practice. The key ideas in the book are fine, but the book’s goal isn’t to make them actionable, it’s to make them sound profound.

Thus, the book makes an okay point about portfolio construction and puffs them into a treatise on the universe. Fine, concrete ideas get wrapped *heavily* in waxing philosophical about Nietzsche or this or that—-like stressed metaphors on the perils of monocrop agriculture.

For most readers, book is thin on practicalities. The book builds to some backtests on gold and other presumed safe haven assets, and rejects some old wisdom on safe haven assets. But details on his main strategy are elusive.

In the end, there’s too much “eager freshman in philosophy class” relative to the content. You pay a lot to receive a couple nice nuggets of wisdom—without practicalities. You could cram the core ideas into a long blog post.

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  • Xross
  • 06-10-22

Easy to listen, good reminder of what risk is

It is very clear in terms of listening. The content of the book is easy to follow and did not make claims of any winning strategy, this is the main thing I like about this book . Think risk first and make money later . Also don''t forget about tail hedging.

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  • Anonymous User
  • 09-16-21

Important concepts lacking meaningful examples

Felt a bit like reading an extended introduction to something that is very important. Unfortunately, after the introduction the listen ended abruptly.

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  • Sitiveni
  • 02-15-22

The Dao of Capital is Better

I’m a big fan of Mark Spitznagel and his book The Dao of Capital I recommend to all budding investors. It’s probably because I have such high regards for that book that I didn’t find this book as good.