Hedge fund managers are shaking their crystal balls, and they are hoping to see something fall out that can put them on the plus side in 2016. Hedge funds are not having a good year, and if these unforeseen situations continue to happen around the globe, the number of hedge funds left standing in 2017 could be drastically reduced.
Buy hedge fund managers like Kyle Bass don’t care about what other people think. Bass has been marching to his own beat ever since he bet the subprime mortgage industry was filled with hot air.
Referenced by UsefulStooges.com, Bass had a big payday in 2008 while the rest of the world was licking their investment wounds. Kyle Bass took the profits he made from the subprime mortgage bet, and he bet that the EU was going to have to bail out Greece, Spain, Ireland, and Portugal. Once again Bass have to take an armored vehicle to the bank in order to make the huge deposit that was the result of that bet.
Some folks say Kyle Bass is crazy, but crazy is a loose term used to describe a wealthy Florida boy turned Dallas investment superstar. Bass likes to be interviewed and he likes to talk about China, investing, the election, and interest rates.
Bass filled his followers with his thoughts, but his followers are dwindling. Bass has burned several bridges over the last eight years, and it looks like he has more to burn.
Bass lost some influential investment friends when he started kissing the backside of the former president of Argentina, Cristina de Kirchner. She left four hedge funds hanging when she defaulted twice on debt bonds.
Bass was trying to protect his money, so he blamed the drivers, not GM for the accidents. Kyle is participating in, what some people call, a drug scam now, and he’s pushing the executives in several pharmaceutical companies to want to find a pill to make him go away.