Kyle Bass was once a man held in very high esteem in the hedge fund market circles. That was until he started making bad call after bad call. To add salt to injury, he has been making those bad calls in full view of the public without a care of how they will take his professional image. His debut into the limelight was, however, contrary to his current image and reputation. In 2006, he started his Hayman Capital Management hedge-fund and made a fortune by making a positive prediction into the 2008 subprime mortgage crisis.
Many people thought the man was a genius of sorts because prior to getting into the hedge fund arena, he was involved in writing scripts and directing movies and got nominated in roles for the same. However, the magic touch, if there was any, has withered down with his shenanigan tactics all over the media. He has been moving from one media station to another offering his ‘professional’ opinion the latest being related to Argentina and Japan.
As if that is not all, he has also been involved in alliances that have not been doing any good to a man of his stature. He is a bosom friend to Cristina Fernández de Kirchner a lady that many consider as an economically illiterate despot. He has been furiously defending her moves that have greatly cost her people in terms of finances.
Born in 1969, Bass attended the Texas Christian University and graduated with a Bachelors of Arts in Real Estate and Finance in 1992. He made a brief stint at Prudential Securities before starting to work for the Bear Sterns London Office and proceeded to become a Managing Director at the tender age of 28. He made his debut in the hedge-fund industry after raising $33 million from friends and family including his $10 million savings.
UsefulStooges tells that his latest quick money making scheme involves ripping off pharmaceutical companies by short-selling their stocks and then challenging their patents using the Coalition for Affordable Drugs that he formed precisely for this purpose. He always makes a very calculated move while on it, and when the stocks go plummeting down, he makes a few quick million dollars. At the same time, the drugs that the pharmaceutical companies make prices go up which hurts the million of people who depend on them.
When asked about his motive at first, he was quick to point out that he was doing it for a noble reason but later on came to admit that he was doing it for the bucks.