Making a mistake is not regarded as a weakness until someone repeats the same mistake all over again. Kyle Bass in the type of guy who makes the same mistake all over again and seems not to notice; and if he does, he does not seem to worry at all. The once famous and respected hedge fund manager has not done his once glorious professional image any good over the last few months. Kyle, who came into the limelight after successfully predicting the mortgage crisis of 2008, has been going from one media station to the other giving his ‘insightful’ financial market analysis that has always been wrong and misinformed.
As if that is not enough, he has also went ahead and got himself involved in friendships and affairs that have been detrimental for his image. His latest actions have clearly made it evident that the magic touch that he once had is completely gone. His friend Cristina Fernández, the Argentinian who has done her people no good because of her economically illiterate decisions continues to cling to his bosom. Bass has been defending her on every chance he gets something that leaves many bewildered.
In the most recent past, he has been involved in an attempt to wipe out some drug patents by short-selling their stocks. He came up with the Coalition for Affordable Drugs and has been using the body to rip off pharmaceutical companies by ensuring that their stocks go down while he smiles all the way to the bank. He was at first insisting that he was doing it for a noble cause but later admitted that he was doing it to make some bucks. He has perfected his gullible money minting act without even thinking about the many patients who depend on the drugs whose patents he has been challenging.
Kyle is the Founder and the main man to Hayman Capital Management. He first came to the limelight when his subprime mortgage crisis prediction made him some money. He purchased credit debt swaps that were being issued by various investment banks at that time. Since then, he has been attracting media attention for precisely the wrong reasons by giving his expectations on matters related to the economic situation in Argentina and Japan.
He was born in 1969 in Miami, Florida. He went to the Texas Christian University on a diving scholarship and went ahead to graduate with a Business Administration degree. He made his career debut at Prudential Securities and went ahead to work at the Bear Sterns Dallas Office. He started his hedge fund with $33 million from family and friends as well as his $10 million savings. He has worked hard to build the brand and worked equally hard to bring it down.