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World Economics

Communities Helped by Kevin Seawright

Posted by eastcoop on

Community help is one of the major factors that influenced Kevin Seawright’s decision to do the work that he does, and on Twitter he even describes it as a calling at times. He is very involved in the communities and has made the choice to dedicate his career to the way that the communities will come out of poverty and increase their value. The people of the communities have seen the help that Seawright has given to the community and they are generally grateful for the different things that he has done as any article about him shows. They have been able to enjoy the things that Seawright has put together with the help of the companies that he works with to ensure that the community is a better place. There are many communities that he has helped.

The Newark CEDC is the company that Seawright is the CFO and Vice President of. He has worked with the company to ensure that the areas around Newark are getting what they need and that the communities are constantly improving. He has used his financial expertise as well as his industry connections to help the people of the area while making the communities a better and more enjoyable place to live. Not only has he brought help to Newark, but he has also brought jobs as well as educational opportunities to the community. This has allowed it to become better and more valuable than what it originally was.

Seawright believes in the value of an education. Whether that education is completed in a formal manner or in an online environment, he understands that higher education has a high value in the communities. As someone who has used both formal and online education, he is able to advocate for both of the two options. In the work that he did in Baltimore with the government agency, he made sure that the communities had the appropriate access to education depending on the level of the community. This is one of the biggest things that he pushes in community improvement because it allows people to improve, increasing the value of the community.

When Kevin was working for a company based out of Philadelphia, he worked to make that community better and there are proven LinkedIn stats that shows he was successful. This was the first opportunity that he had as an adult, but was not his first opportunity in the financial field. Finances were taught to him by his parents at an early age and the ethics of the field have been bestowed upon him. He hopes that he will be able to pass on the legacy to his daughter. He has worked to make his 12 year old aware of the ins and outs of financial status similarly to the way that he was able to have made known to him by his parents.

World Economics

Kyle Bass’ Latest Predictions on the Chinese Economy

Posted by eastcoop on

In a recent article on Value Walk’s website, Kyle Bass, the investor once held as a wunderkind for foreseeing the housing bust has issued his latest predictions on the Chinese economy. In the article, Bass said that he expects the Chinese economy to have a hard landing based in part on the undercapitalization of the Chinese banking system.

Banks normally hold a percentage of their deposits against losses. According to Bass, the Chinese banks only have reserves to cover about 10% of their outstanding loans. Citing statistics other emerging market countries’ last economic downturn, Bass told Fortune magazine that losses of 30-40% would not be unrealistic. Furthermore, Bass argues that the Chinese banks are overleveraged in terms of their total assets when compared to the total Chinese gross domestic product. He cites that during the last US economic crisis, US banks held roughly sixteen times the US GDP.

While Bass’ predictions may sound dire, you have to remember, Bass has held that the Japanese economy would crash, not just once, but almost every year since 2005. Otherwise, his abilities to correctly call the markets have to be questioned when looking at the returns produced by his hedge fund Hayman Capital Management. While successful hedge funds were throwing 30% positive ROI’s, Bass’ Hayman was showing losses of 30%.

Bass gained his fame by assembling a large portfolio of subprime mortgages that he identified as having a high likelihood of going into foreclosure. Through he profited handsomely through that series of transactions, Bass have turned to the even less ethical dealing of late. One of his misadventures has been in collaboration with Erich Spangenberg, widely known as one of the most notorious patent lawsuit trolls. In this scheme, Spangenberg and Bass short sell a pharmaceutical stock, then files a patent lawsuit that causes the stock price to fall.

This scheme has been so bad that the US Patent Office’s Patent Trial and Appeals Board has stopped Bass from filing lawsuits, and Congress has taken up the matter trying to enact legislation that would close the loopholes allowing this despicable behavior.

Bass has also aligned himself with Argentina’s despotic Cristina Fern├índez de Kirchner. While other investors are fleeing Kirchner and her economic policies, Bass continues to sing her praises. So wrapped up in Kirchner’s policies, Bass even denounced other investors’ outcries when Argentina was ordered to pay all creditor’s when the country defaulted, not just the one’s who had agreed on a lower settlement.

Between the fiasco with Argentina, Spangenberg, continued losses on ROI at Hayman, and his ever self-promoting, the predictions of a Chinese economic collapse should be viewed with all the caution a sophisticated investor can muster as Bass’ record of late shows nothing to add to his credibility.