Kyle Bassbelieves that psychology is more important than the quantitative analysis that is why in his fund, they pay more attention to it and try to understand it. "We have been conditioned to believe there is always this savior out there," Bass said. "There's an optical backstop designed to make everyone believe countries can't default." "It's where we stand to day on Greece on Italy. I think it's really important to think through that psychology," he said. "Those optics are starting to come into question."
Kyle Bass, an American hedge fund manager, is the Founder of Hayman Capital. He received extensive coverage in the financial press for profiting $590 million by short selling the sub-prime mortgage bond market, before that market crashed. In 2011, Bass initiated a huge position in Greek sovereign debt through CDSs. Media reports were that he could profit up to 650 times his investment should Greece default on its debt obligations.