{
  "id": 6908570,
  "title": "'Black Swan' investor Mark Spitznagel says you should guard against disaster — but take risks too",
  "url": "https://urgent.news/2026/09/12/black-swan-investor-mark-spitznagel-says-you-should-guard-against",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-12T10:32:01.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/black-swan-mark-spitznagel-life-advice-careers-strategy-ai-farm-2026-9"
  },
  "original_language": "en",
  "account": "Mark Spitznagel, the head of Universa Investments, advises people to prepare for disasters while also taking risks. Universa's Spitznagel believes it's vital to \"bet your beliefs\" while avoiding big losses. He told Business Insider that AI won't replace some human skills and shared fond memories of his best investment - a goat farm in Northport, Michigan. Spitznagel warns against obsessing over the power of compounding money over time, as it can be a \"curse\" because people have to live their lives. He recommends focusing on mitigating big losses, not little ones, and using the Kelly criterion to correctly size bets. Spitznagel believes that humans have a unique ability to express themselves and write that AI tools like ChatGPT will never replace. He cherishes the satisfaction of running a farm, producing goat milk and cheese, and connecting with his family while thinking in long timeframes.",
  "summary": "Universa's Mark Spitznagel said it's crucial to take risks and protect yourself against huge losses, and spoke fondly of his best investment.",
  "key_points": [
    "Mark Spitznagel advises preparing for disasters while taking risks",
    "AI won't replace some human skills, believes Spitznagel",
    "Recommends focusing on mitigating big losses, not little ones"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}