"Not every investor is trembling with anxiety over the next financial blowup. Some are embracing the market's volatility—and constructing portfolios to profit from it. A growing number of money managers and financial firms are rolling out investment products designed to exploit big declines known as 'black swan' events. Most of the products are geared toward institutional investors such as pension funds, endowments and high-net-worth families—but black-swan strategies are trickling down to Main Street as well. ... Some of these specialized funds aim to profit when markets tank. Others are designed to protect against a market plunge but still profit when markets rise. Investors don't typically put all of their money into these funds—but they are putting in more these days."