Kyle Bass is a hedge fund manager and the founder of Hayman Capital Management. After becoming famous for predicting a mortgage crisis in 2008 and making a killing out of it, Kyle Bass has been making the wrong predictions and wrong business decisions ever since. Did he suddenly loose his magic touch or did he not have it to begin with?
For starters, Kyle has been making some very questionable alliances. He has been defending Christina Fernandez economic decisions, while everyone else is in agreement that the lady’s economic illiteracy is the reason the Argentinean economy continues to plummet. He even defended the country’s decision to default on its sovereignty loan yet again. New York Post even began to draw parallels between Kyle and the Argentinean economic minister Alex Kicillof. Kyle seems to have entered into some unscrupulous deals.
Kyle seems to be plotting something every time. In an effort to maximize on his investment in General Motors, he is reported to have blamed accident victims for the deaths that had clearly been caused by the company’s faulty power steering and airbags failing to deploy. On TV, Kyle accused the victims for not wearing seatbelts and driving while drunk.
In his latest and biggest scheme, Kyle short-sells the stocks of a few pharmaceutical firms and disputes their patents all in the name of making a quick buck. As a result, the stock prices fall down, while he makes a fortune. This results in a rise in the prices, and negatively affects consumers who are in need of the drugs. This is a serious scheme that has both houses of congress working to seal the loopholes that make this kind of plot possible.
Kyle graduated with a BA in Business Administration (Finance and Real Estate Finance) from the Christian University. Prior to founding Hayman Capital Management, he worked as a Senior Managing Director at Bear Stearns. He also worked for Legg Mason as a Managing Director. Currently, he sits in the board of governors in Troops First Foundation, Business Executive for National Security, University of Texas Investment Management Co. and Texas Ranger Association Foundation.
The pharmaceutical companies have been up in arms blaming Kyle for driving stock prices up in making patent challenges for his own benefit. Kyle recently lost a patent case that he had filed with the U.S. Patent and Trademark Office. This is after the office denied his request to review two patents on Avorda Therapeutics Inc’s drug Ampyra.
To add to Kyle’s woes that don’t seem to end anytime soon, a recent report reveals that, in 2014, he lost 30% of his funds. Kyle doesn’t reveal much about the state of his funds though.