Kyle Bass Is Betting Against A Quick Economic Recovery For China
Kyle Bass, the famous hedge fund investor, has made a lot of crazy bets in his career. The one bet that most investors remember is his 2008 bet against Wall Street. Bass made a fortune betting the subprime mortgage industry would fall apart. Bass became the investor that other investors wanted to be back then, and he has been riding that wave of popularity ever since. But that wave is getting ready to hit the shore of uncertainty as Bass and his hedge fund firm Hayman Capital keep turning in poor results.
There’s not an investor alive that is right all the time, but Bass likes to flaunt his one big win and use it to capture more pie-in-the-sky investors that aren’t afraid to cross the ethical line at times in order to make a buck. The Bass list of no-nos is piling up, and that’s not helping his cause to make Kyle Bass a household name.
The truth is, Bass has pissed a lot of people and nations off with his high-flying investment practices. Paul Singer, another top hedge fund investor, didn’t like Bass speaking about Argentina’s bond default a few years ago. Bass said Singer and three other hedge fund managers were taking advantage of the people of Argentina by not taking 10 cents on the dollar to settle their claim. The drug companies are up in arms because Bass is betting against them before the news breaks that they are being investigated for overcharging. Even American Sniper Chris Kyle’s widow is claiming Bass and company are unethical.
But the latest bet that Bass believes is another billion-dollar winner is his bet against China’s currency. Bass thinks China will be forced to devalue the yuan because of the amount of bad debt that the Chinese banks have on their books. Bass sold a considerable amount of stock and invested that money to short the yuan against the dollar.
The Kyle Bass story is far from over. The media continues to interview him and ask him about everything and anything. Bass isn’t afraid of being Kyle Bass, the investment soothsayer. Read the full truth: https://usefulstooges.com/2015/08/24/kyle-bass-the-frantic-investments-of-a-desperate-gambler/.