From Clusterstock:

Universa Investments, the Nassim Taleb-affiliated fund group, is opening a new fund where they'll bet on inflation. Sounds good. Lots of smart people think inflation is on the way, and just as many people want to protect against it.

But before you do, make sure you have a reasonable idea of how much he's made clients in his last fund. There's a nasty mis-fact flying around in a recent GQ article, which claims he made his clients $20 billion.

Here's Taleb's exact quote in the article:

"I went for the jugular-we went for the max. I was interested in screwing these people-I'm not interested in money, but I wanted to teach them a lesson, and the only way you can do it is by trying to take it away from them. We didn't short the banks-there's not much to be gained there, these were all these complex instruments, options and so forth. We'd been building our positions for a while...when they went to the wall we made $20 bln for our clients, half a billion for the Black Swan."

Amazing returns, and great quote! Except, not really.

Read full article...

More on Taleb and other investment gurus:

Taleb's 10 rules to prevent disaster

Hedge fund guru making HUGE hyperinflation bet

Value great Berkowitz names his favorite stocks right now

Taleb: Gold and copper may "rally massively" in coming crisis