Safe Haven: Investing for Financial Storms Audible Audiobook – Unabridged

Mark Spitznagel (Author), Fred Berman (Narrator), Audible Studios (Publisher)

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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.

Listening Length

6 hours and 42 minutes
Author

Mark Spitznagel
Narrator

Fred Berman
Audible release date

Aug. 3 2021
Language

English
Publisher

Audible Studios
ASIN

B09BD6C742
Version

Unabridged
Program Type

Audiobook
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Product details

Listening Length	6 hours and 42 minutes
Author	Mark Spitznagel
Narrator	Fred Berman
Audible.ca Release Date	August 03 2021
Publisher	Audible Studios
Program Type	Audiobook
Version	Unabridged
Language	English
ASIN	B09BD6C742
Best Sellers Rank	#25,901 in Audible Books & Originals (See Top 100 in Audible Books & Originals) #51 in Financial Risk Management #83 in Investment Portfolio Management #119 in Wealth Management

Customer reviews

5 star		58%
4 star		19%
3 star		11%
2 star		3%
1 star		9%

How are ratings calculated?

Top reviews from Canada

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wilson harris

Absolutely no insight into how to mitigate risk

Reviewed in Canada on October 31, 2021

Verified Purchase

This is a ridiculously bad book. His first book, the Dal of Capital, is well written and full of helpful lessons. This book tells you absolutely nothing about what to do to follow his notion of risk mitigation. He admits as much in the introduction to his book. So after all the noise, you will not have any actionable steps to take. From that perspective, the book is a dismal failure. I really wish he given us a small snippet of what steps the average investor can take after reading his book.

2 people found this helpful

Helpful

Aidan

A very disappointing book.

Reviewed in Canada on August 30, 2021

Verified Purchase

The book offers no insights except a profound sounding title. Long on technical jargon, and poor writing style for non egghead audience.

One person found this helpful

Helpful

wayne

Disappointing

Reviewed in Canada on October 5, 2021

Verified Purchase

Extremely disappointing. Could have written the entire book in a few sentences.

One person found this helpful

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Top reviews from other countries

Jim

Great, just don’t expect any trade secrets

Reviewed in the United Kingdom on August 22, 2021

Verified Purchase

This is a much more concentrated book when compared to the excellent Dao of Capital, but still packing the rigorous research and homage to influential thinkers of the past. It is concentrated on the specific practice of Safe Havens and the mathematical dynamics of their role in the portfolio.

Mark builds the case from the ground up using interesting simplified dice games. Demonstrating how a safe haven can in theory increase the average geometric returns and that we shouldn’t be side tracked by their negative impact on the average arithmetic returns. Compounding and avoiding big set backs is key (risk mitigation).

Whilst performing a quick analysis of some potential safe havens at the end, the author provides no hints of where you can find your dream “tenbagger” safe haven, which has enabled his firm to outperform the SPX. Aside from gold, which the author casts some doubt. We are left to work out what will make a good safe haven for our own portfolios. A challenging task, probably not for the casual investor.

Still a great book, and well worthy of the 5 stars.

5 people found this helpful

Stefan Stefanov

Groundbreaking

Reviewed in the United Kingdom on February 21, 2022

Verified Purchase

The first time I read it on kindle. I knew it it was very important book. These ideas were always with me, intuitively, and that is the reason I never bankrupted as a professional gambler.
But with the physical book i had to deconstruct every idea inside - why, how it worked. Made files in Excel to calculate all the BEV/EM and laughed myself out when I discovered that Mark Spitznagel used in his St. Petersburg merchant primer, the exactly same example as Bernoulli's Gaius.
Everybody has to work it out for himself - ho much exactly will cost him an insurance, depending on personal wealth, price of the insurance, etc. There is no single on-size-fit all answer.
It takes time, do your own calculations, it is worth it.
Great Job!

2 people found this helpful

Stephen Miller

Very interesting

Reviewed in the United Kingdom on October 31, 2021

Verified Purchase

I rarely post reviews . I've read around 100 investing books and this is one of my favourite to date. It does not outline trading strategies or indicators or copy and paste methods ( which mostly fail anyway) but gets you to start thinking for yourself/out the box. I had no idea the importance of the geometric mean or how important bootrapping can be to validate a good strategy . Already thinking of ways to incorporate. It also shows why random allocations of hedges via "diversification " rarely work and a more scientific method can be applied to pick % allocation .. good stuff

One person found this helpful

Fontana Federico

The noble intent of the book lacked substance and practical insight

Reviewed in the United Kingdom on November 25, 2021

Verified Purchase

The book is well-timed. Investors are becoming increasingly aware of the importance of tail-risk protection and the March 2020 crash has been a good reminder of that. However, the noble intent of the book lacked substance and practical insight. Some readers will appreciate the historical references to Greek mythology and Bernoulli, but many others will feel underwhelmed by the absence of practical insight. I generally appreciate attempts to build up investment frameworks from first principles, but the book is too much focused on destroying others' people and not enough on adding value.

william cooper

Eye opening great read

Reviewed in the United Kingdom on December 24, 2021

Verified Purchase

Loved this - will never forget arithmetic v geometric risk outcomes - great easy to digest lessons for my kids

Sure as others pointed out it lacks direct actionable trading ideas

But that’s not the point of it - and if I managed a hedge fund then sorry for £15 you don’t get to skip my 2 and 20

One person found this helpful

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Safe Haven: Investing for Financial Storms Audible Audiobook – Unabridged

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Customer reviews

Top reviews from Canada

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Top reviews from other countries

Free with an Audible trial

$0.00

Buy with 1-Click

$21.88