Universa Investments L.P.

Universa Investments L.P. is an investment management firm that specializes in protecting its clients' portfolios against extreme risks – i.e. universal fat tail risks or Black Swans. Universa-protected portfolios are thus, by construction, more positively-skewed, more robust to extreme risk assumptions, and highly non-linear to common risk factors (betas).

Universa’s economic edge derives ultimately from basic behavioral biases. Universa captures that edge through a focused and disciplined investment approach employing positively-skewed payoffs, empirical and fundamental-based option valuation, and trading/providing liquidity against order flow imbalances in options markets.

Universa was founded in January 2007 by CIO Mark Spitznagel, and since the 1990s Universa's principals have worked together and committed themselves to the implementation and cumulative, incremental development of Universa's protection strategies, creating an innovative risk management vehicle and investment niche within an increasingly homogeneous industry.

Home | About Universa | Principals | Disclosures | Directions | Recruiting | Employee Login