Kyle Bass is an investment professional and hedge fund manager. A Miami, Florida native, Bass is the founder and president of Hayman Capital. The Texas Christian University graduate has been described as having the nerves of a riverboat gambler. Many came to know Bass because of his success in anticipating the subprime mortgage crisis and being able to benefit from it. Bass was bold and brave enough to purchase various investment banks’ credit default swaps offered on their subprime securities. But since that time, Bass’ most high profile moves have been ugly, lost money, and come to naught.
A recent article recapping the missteps, foibles, and downright unethical moves of Kyle Bass completely recast the image of the man that was hailed a few years ago as a visionary and an investment genius. Bass has made one bad investment after another. The article talks about his eagerness to get on television or radio to spout predictions designed to enrich his company. He has inexplicably supported the bankrupt economic policies of Argentinian despotic ruler Cristina Fernández de Kirchnerf although she is clearly robbing her people and bringing this once prosperous nation to the brink of financial ruin.
Even if his support of Cristina Fernández de Kirchnerf could be chalked up to a gross error in judgment, they were accompanies by actions which made him look greedy and sleazy. Actions like buying GM stock then blaming crash victims for errors admitted by the company in order for stock prices to remain high so he could profit. Using a front organization to attack selective pharmaceutical companies while short-selling their stock and leaving thousands of sick and dying patients waiting for help while he profits millions of dollars. His actions were considered so egregious the Patent Trial and Appeals Board are considering sanctioning Bass. One pharmaceutical company has charged him with extortion.
Many people are saddened by how greed has seemed to have driven this once respected hedge fund manager to take such a series of unscrupulous actions. Some of Bass’ activities and strategies are so dangerous and dastardly, the House and Senate Judiciary Committees are working to craft legislation to ensure they can never happen again. This Dallas, Texas based investment professional has shaken many people’s faith in financial advisors. He seems intent on continuing to misuse his seemingly prodigious talent and intelligence and squandering people’s money in order to line his pockets.
Bass has gone from successful tenures at Prudential Securities, Bear Stearns, and Legg Mason and a bright future in financial investing to becoming a cautionary tale about the dangers of greed. After launching his first hedge fund with $43 million in loans and personal savings, he’s now seemingly become corrupt.