Kyle Bass Continues to Prove He is the Most Unethical Hedge Fund Manager Alive
Argentine autocrats may love Kyle Bass when it comes to hedge funds, but they may be the only one. It is a new month and he is already off to his usual low start with despicable business practices. He rose to fame in the world of hedge funding when he predicted the subprime mortgage crisis back in 2008. Quickly people started to think that he was the perfect hedge funder with an inside track, but as time rolled on this was obviously not the case. In fact, the more time passed the more it became evident that Bass made one correct prediction out of hundreds making him luckier then skilled.
It is not enough that Bass continually makes bad calls, but he does it in front of an audience and in full view of everyone. He is simply a narcissist that loves the attention and he is always ready to go on television shows and interviews to talk about his current market analysis. Of course, his predictions always seem to be self-serving and in the end they end up wrong. The more media appearances he makes it seems the lower his funding performance drops. Anyone hoping for a turnaround will just have to keep hoping.
Of course, Bass doesn’t stop at just making predictions that don’t pan out; he also has made quite a few alliances that are distasteful. For instance, everyone in the hedge fund business believes that Christina Fernadez de Kirchner has ruined the economy of Argentina, but Bass on the other hand praises her nonstop. Her country even defaulted on its sovereign debt loan last year and still BASs continued to rationalize the decision and started to sound more like a PR agent then a hedge fund manager that is supposed to be working in the US.
It’s not enough that he continues to champion the crazy economic policies of Kirchner however; he also champions his other seedy causes equally. When it looked like he was going to lose a large amount of his General Motors investment following the non-deploying airbags and faulty steering in the GM cars he had another excuse. It wasn’t GM alone to blame, the dead victims also had to share a part of the blame because according to Bass they must have been drunk or not wearing seatbelts.
HIs latest plot is to short pharmaceutical companies and then challenge their patents so that they cannot get the medication out to the public and are forced to cut back on their medical research. In the meantime while thousands die waiting for the medical breakthroughs, Bass makes money.