Tail-risk hedge fund Universa Investments predicts that U.S. stocks could surge another 20% before a potential collapse similar to the 1929 crash. The S&P 500 has already risen 13% this year, hitting record highs post-Fed rate cut. Chief Investment Officer Mark Spitznagel believes stocks could climb to over 8,000 points, but warns of an impending 80% crash due to looming high borrowing costs. Universa, a $20 billion hedge fund, specializes in protecting against market shocks and saw significant gains during the 2020 pandemic chaos. Investors use these funds as insurance against extreme market events, despite the small drag on performance.

Read more at Yahoo Finance: US stocks may surge another 20% before historic crash, says ‘black swan’ fund Universa