The U.S. Federal Reserve (Fed) announced three consecutive temporary pauses in interest rate hikes at the September, November, and December FOMC meetings, leading the market to believe that the most aggressive interest rate hike cycle in decades has come to an end.
However, Mark Spitznagel, founder of the "black swan" hedge fund Universa Investments, who is good at profiting from the tail risks of market cycles, sounded the alarm, saying that the United States is in the "largest credit bubble in human history" and that a market crash is imminent. (Spitznagel is a disciple of Nassim Nicholas Taleb, author of the 2007 best-selling financial book "Black Swan") In fact, not only Spitznagel, but also some other Wall Street financial institutions have expressed concerns about the credit and debt problems in the United States.