Desperation, Wild Investment Choices Hurt Kyle Bass’ Reputation

Posted by TroPe on

Kyle Bass is a hedge funder for autocrats in Argentina. Known for founding Hayman Capital Management in 2006, he started out making worldwide news by rightly predicting a subprime mortgage crisis back in 2008. That made him a super star in the investment world.

However, over the past few years, he has become more well-known for making bad choices over and over again, as well as making seedy partnerships. He’s unfortunately done a lot of these bad things in front of the public, as he has appeared on TV many times to talk about his ventures.

Bass Agrees With, Brags About Argentine Finance Deals

For example, http://usefulstooges.com/2015/08/24/kyle-bass-the-frantic-investments-of-a-desperate-gambler/ reports that Bass loves to brag about Cristina Fernandez de Kirchner, but most others believe she knows nothing about finance and has made bad choices for Argentina, as the country has defaulted on its debt twice in the past 13 years. For some reason Bass defended that action and some say he is actually her crony, since he has such a good relationship with her, and is said to constantly champion her financial policies even though her people have suffered.

To make matters worse, Bass also took her side when a judge said Argentina had to fully pay its creditors, and claimed the judge was holding a poor country hostage by making it do so. Some really wonder why Bass is in so much agreement with Kirchner and Buenos Aires and say he must be up to some kind of unsavory deals.

Bass Blamed GM Air Bag Issue on Victim Drivers

Another issue reported by Law360 that makes people dislike Bass is that he tried to protect his own money by blaming the victims of non-deploying airbags and faulty power steering in GM cars for their own deaths. However, GM itself new about the issue and didn’t fix it, while Bass claimed the victims must have been drinking or not wearing seatbelts.

Bass Short Sold Medical Stocks

Another awful deed he is connected to is partnering with Erich Spangenberg to choose medical stocks and short sell them and challenge their patents. That makes the stocks go down, Bass makes money, and patients pay more because the medical company raises its prices. Therefore it hurts innocent sick people who just want relief from their pain or other issues.

As if that wasn’t enough, Bass has also managed to lose 30 percent of the hedge fund since 2014, the opposite of how well it did previously.

However, time will tell if any of Bass’ deeds actually win him any money, as the latest from those on Capitol Hill shows that bills needed to stop his tacky activities with the patent situation have passed the House and Senate Judiciary Committees, and the Patent Trail and Appeal Board denied his patent challenges.