Kyle Bass is a hedge fund manager who became famous after he made a correct prediction on the subprime mortgage crisis. The prediction came true and a number of companies were ready for the outcome. He made a fortune for himself and his Hedge fund firm, Hayman Capital Management, which is based in Dallas. His status was elevated and he became the sensation who was right in his predictions.
However, it did not take long for his magical touch to start dwindling. He has since then made one bad business call after another. The sad part is that he has done it all in the full view of the media. With every invitation to attend TV shows, Kyle has continuously made wrong analysis on issues pertaining to the economy. Besides, Kyle has openly made an alliance with Argentinean despot Christina Fernandez who everyone believes is economically illiterate. He has defended Christina’s poor decisions that have only escalated the economic problems in Argentina. His advice have created much public outcry, as his conclusions on various economical aspects are biased and not truthful.
Bass was born in Miami, Florida in 1969 September 7th.His father was the Fontainebleau manager before relocating to Dallas, Texas .Bass received an academic and diving scholarship from Texas Christian University where he graduated with an undergraduate in Business Administration. At the university, Bass majored in Finance and Real Estate. He worked at Prudential Securities then moved to Bear Stearns where he was as Senior Managing Director.
UsefulStooges writes about a time when Bass caused uproar when he blamed the public for the fatalities caused by the defective power steering and airbags manufactured by General Motors. Bass was quick to direct the blame to the users of the cars. He claimed that the users were careless in their driving and that they failed to wear seat belts. It has been said that the company was aware of the defects in the cars but did nothing about it. There are also his business ties to Chris of the American Sniper, ties that led to the lawsuit between Taya, Chris’s widow and one of his workers at Hayman.
Besides controversy on his opinions regarding economic affairs, Bass’s name has been mentioned in instances of fraud. In their schemes, Bass and Erich Spanenberg target a number of pharmaceutical companies. They short sell their stocks. The duo later challenges the patents of these pharmaceutical companies using the Coalition for Affordable drugs, which is a front organization. The stocks go down and the pair makes quick millions while the companies escalate their prices, thus cutting out medical research funds.