We see now why Kyle doesn’t own much stocks and he is mostly short stocks or owns only a few special situations. He has also pointed out that the USD is the best currency in an environment like this. If he is right, investors will need US dollars to buy cheap assets in few years. According to him the world cannot growth until debts disappear and there is only one way for it to happen.
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.
