Mark Spitznagel, founder of Universa Investments, known as the "Black Swan Fund," has forecasted that the S&P 500 could surge to 8,000 amid a "Goldilocks zone" of declining inflation and interest rates. In a letter to investors, Spitznagel highlighted that the current market euphoria could drive stocks higher before a significant downturn, as the largest bubble in history enters its final stage. Spitznagel warned that if the Federal Reserve maintains current interest rates, businesses may struggle to raise capital, leading to a sharp market reversal. He emphasized that the Fed's focus on lagging indicators like inflation has left it behind the curve, and as the economy worsens, markets will initially rise on expectations of rate cuts before falling sharply. Spitznagel compared the potential scenario to the financial crisis of 2007-2008, suggesting the Fed may become powerless to avert a downturn.