Hayman Capitalwill earn about 700 times on his CDS investment. Let’s repeat again “70,000%” return on investment! We have no information how much CDS on Greek debt he purchased in 2010 but we believe that his fund will earn millions.
Bass is known for his uncommon investment bets as well as talented mind. He currently holds physical gold. Platinum as well as 20 million 5 cent Canadian Nickels. His 700 times return on his investment will earn him many fans in the investment world. The true value of his holdings will be fully revealed when the payout rates are decided after an auction of the old Greek debt.
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.