💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ 🔐 Help companies protect customer privacy in the face of endlessly growing data breaches by investing in Atakama today: http://invest.atakama.com/wsb Clay chats with Scott Patterson about his new book - The Chaos Kings. The Chaos Kings tells the story of the hedge fund that achieved average annual returns of over 105% from 2008 through 2019, and how Bill Ackman had a $27 million dollar bet that turned into over $2.6 billion.  ▶️ RELATED EPISODES: - The Black Swan - By Nassim Taleb: https://youtu.be/EL27Kro8bF4 - Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon: https://youtu.be/TYVR7LwaevU IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:00:54 - Who the Chaos Kings are. 0:04:48 - The story of Nassim Taleb and Mark Spitznagel setting up a hedge fund that delivered average returns of 105% annually. 0:12:28 - How these hedge funds profit tremendously during times of calamity. 0:17:35 - What led Nassim Taleb to get interested in the markets. 0:23:10 - Why we should be mindful of just how uncertain the world and our global economy is today. - What complexity theory is. 0:27:55 - How investors can protect themselves from a black swan event. 0:42:48 - How Taleb and Spitznagel viewed the world differently than conventional wisdom. 0:37:14 - How predictable Black Swan events are. 0:57:16 - Looming Black Swans that Taleb sees in today’s world. 1:00:11 - What the precautionary principle is. 1:04:10 - Taleb and Spitznagels take on the systemic risks in the financial system today. 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/how-ackman-taleb-profited-billions-during-market-crashes-w-scott-patterson/ 📖  BOOK MENTIONED: - Chaos Kings by Scott Patterson: https://amzn.to/3qosYPX Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙  On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/  ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.