Rand Paul announced Friday that hedge fund manager Mark Spitznagel is joining his campaign as an economic adviser.
The 44-year-old Spitznagel is known for betting successfully on a market crash in 2008, for his bearish views about markets, and for his libertarian outlook.
Spitznagel is also noteworthy as a student of “Austrian” economics, a school of free market economics also espoused by Paul’s father Ron Paul.
“I believe we can revitalize our economy by encouraging opportunity and entrepreneurship with lower taxes, a balanced budget, less Federal Reserve interventionism, and limited government spending,” Paul said in announcing Spitznagel’s addition to the campaign. “I look forward to working alongside Mark to solve our nation’s economic problem and to restore the American Dream.”
The Kentucky senator and libertarian Republican has made slashing taxes, rolling back federal regulations, and reforming the Federal Reserve top concerns of his time in the Senate and on the campaign trail.
Spitznagel cited Paul’s views on monetary policy as a reason for joining the campaign.
“Rand Paul is the only candidate that really understands the destructive ramifications of current economic policy driven in large part by a reckless Federal Reserve. I look forward to working with him on his ideas and message to change that policy,” Spitznagel said in a statement.
Spitznagel is the founder and chief investment officer for Universa Investments, a Miami-based hedge fund reported to have $6 billion in assets under management.
He is also the author of a book, The Dao of Capital, which explains his Austrian economics-influenced investing strategy.
Spitznagel runs a sustainable goat farm in Northern Michigan. He made headlines last year for bringing goats to Detroit to eat overgrown grass in blighted neighborhoods.
