Kyle Bass is an American investment professional who is known for his prediction of the 2008 financial crisis that had impacts all around the world. Bass was born in Miami, Florida, in 1969. He attended Texas Christian University, and then went on to start his own hedge fund named Hayman Capital Management. Bass was able to profit from his prediction of the 2008 financial crisis by taking out insurance against people defaulting on their loans – formally known as credit debit swaps – and earned millions upon millions of dollars from it. This investment should have any one person set for life, and never have to work again.
Kyle Bass still works today, but he has made terrible career decisions since his correct prediction of the 2008 financial crisis. Arguably the worst decision he has made is when he stood up for General Motors, a company he has significant investments in. A few years ago, General Motors used faulty Firestone brand tires on all of their cars, and it turned out a certain batch of tires was faulty. General Motors had to order the largest vehicle recall in history, and refund everyone who bought the car. When Bass was asked why he still had investments in General Motors after the faulty tire ordeal, Bass blamed the consumers for being at fault for the faulty tires, rather than General Motors having responsibility for the faulty tires.
From 2010 to 2014, Bass incorrectly predicted Japan’s economy to crash, for five years straight. It turns out the Japan’s economy never did experience a recession, and still has not had a financial crisis to this very day.
Bass has also recently filed a lawsuit against a large pharmaceutical corporation named Acorda Therapeutics. Acorda’s number one selling product is a medicine used to help treat multiple sclerosis, and is called Ampyra. Ampyra is a relatively new drug, and has been under patent since its inception. This means that Acorda has exclusive production rights to the drug, and this means high prices for consumers. Kyle Bass claimed to have filed the lawsuit so consumers could get their medicine cheaper, but as UsefulStooges.com points out many people who were involved with the court case said the Kyle Bass wanted to file the lawsuit just so he could make some extra money (he probably needs it, since he’s been failing for the past seven years).
KHe did make a brilliant financial decision back in 2008, but hasn’t hit the lottery like he did seven years ago. Bass has made terrible career decisions, such as the ones included above. Keep in mind that Bass has made other bad career choices, but the list is virtually endless.