Mark Spitznagel

In  The Dao of Capital , hedge fund manager and tail-hedging pioneer Spitznagel takes the reader on a gripping, circuitous journey from the Chicago trading pits, over the coniferous boreal forests and canonical strategists from Warring States China to Napoleonic Europe to burgeoning industrial America, to the great economic thinkers of late 19th-century Austria, ultimately arriving at his central investment methodology of Austrian Investing. Victory comes not from waging the immediate decisive battle, but rather from the  roundabout  approach of seeking the intermediate positional advantage (what he calls shi ), of aiming at the indirect means rather than directly at the ends. The monumental challenge is in seeing time differently, in a whole new intertemporal  dimension, one that is so contrary to our wiring.