Universa's Mark Spitznagel on the hedge fund's 4000% return

Mark Spitznagel, president and chief investment officer of Universa Investments LP, speaks during the Bloomberg Invest Summit in New York, U.S., on Wednesday, June 7, 2017.

Misha Friedman | Bloomberg | Getty Images

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The founder of Universa Investments, which scored a 4,000% return in the first quarter, told CNBC on Monday that the coronavirus crisis has exemplified the mission of his hedge fund.

“This environment is very much our environment,” Mark Spitznagel said in an interview with Leslie Picker on “Squawk on the Street.” “We are in a boom-and-bust cycle, an epic, monumental boom-bust cycle and this is really what a strategy like Universa’s is here for.”