Kyle Bass is taking his flagship hedge fund onshore-in Europe.
Bass' Hayman Capital Management plans to launch an Irish-domiciled version of its main fund, HFMWeek reports. The Dallas-based firm will offer Hayman Advisors as a separately managed account packaged within an Irish Qualified Investor Fund.
The move will give non-U.S. investors greater access to Hayman, which has US$1.1 billion in assets under management.
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.
September 15, 2012
July 12, 2012
Kyle Bass thoughts on Japan
These are recent thoughts of Kyle Bass from the SALT Conference Panel
Kyle Bass believes that the bottom in the USA housing market will be reached soon. The possible time-frame according to him is between 12 and 18 months.
Regarding Bass’s most popular thesis” “Japan”, he says that today more diapers are bought for adults in Japan than for children. Kyle Bass compares Japan to Bernie Madoff and points out that Ponzi schemes work until there are no more buyers and money coming in - you can make promises and there won't be any issues as long as you don't have to follow through. Japan has made much promises but the fact is that the interest rates to service its debt consume half of the government revenues. This reveals how big the debt is.
As a matter of fact, Japan is already monetizing a lot of debt so it's just a matter of time before the market starts to get out or the currency crash.
Kyle Bass admitted to making a mistake in 2009 by not anticipating all the printing by the sovereigns.
Today the manager of Hayman Capital advocates as best investments: long non-agency MBS credit while shorting Europe and Japan. Kyle Bass also said that Greece would be "ungovernable" very soon.
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.
Kyle Bass believes that the bottom in the USA housing market will be reached soon. The possible time-frame according to him is between 12 and 18 months.
Regarding Bass’s most popular thesis” “Japan”, he says that today more diapers are bought for adults in Japan than for children. Kyle Bass compares Japan to Bernie Madoff and points out that Ponzi schemes work until there are no more buyers and money coming in - you can make promises and there won't be any issues as long as you don't have to follow through. Japan has made much promises but the fact is that the interest rates to service its debt consume half of the government revenues. This reveals how big the debt is.
As a matter of fact, Japan is already monetizing a lot of debt so it's just a matter of time before the market starts to get out or the currency crash.
Kyle Bass admitted to making a mistake in 2009 by not anticipating all the printing by the sovereigns.
Today the manager of Hayman Capital advocates as best investments: long non-agency MBS credit while shorting Europe and Japan. Kyle Bass also said that Greece would be "ungovernable" very soon.
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.
May 30, 2012
Kyle Bass: Japan will follow Europe's nightmare of debt crisis
Bank of Japan actually monetize the debt of the country by buying local government, said hedge fund manager
Japan is about to follow Europe into the abyss of debt crisis, said Kyle Bass, a hedge fund manager and founder of Heyman Capital, said on CNBC.
Although investors are focused on the situation in Greece and other European countries, Japan will soon remind myself, says Bass
"Things in Greece will get out of control in the next 30 to 60 days," said the investor, became famous for their large short positions in subprime mortgage bonds before the collapse of the sector in 2007-2008
"Japan is a market crossroads ... I've never seen more undervalued opportunity in our lifetime, "he says.
Bank of Japan actually monetize the debt of the country by buying Japanese government 50 trillion. yen, Bass argues.
There are many dangers associated with strategies of central banks trying to print his escape from the debt crisis. These are inflation and loss of confidence in the stability of the debt, says Bass.
According to the approaching crisis is obvious. "The simple fact is that there is not an exercise in infusing liquidity. The question is when, not whether the system will collapse. "
Japan's aging population and the burden of system benefits, are the main factors resulting from debt problems.
Bass illustrates the words as an exemplar convicted for financial fraud Bernie Madoff fund manager. "He taught us anything," says Bass. "You can promise anything and everything as long as you do not have to do them."
As for Europe, Bass rejects the idea that Greece may adhere to contractual agreements. "Bankruptcy would not be controlled and eventually they will have to abandon their promises to the Troika," he said, referring to the European Union (EU), International Monetary Fund (IMF) and European Central Bank (ECB).
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.
Japan is about to follow Europe into the abyss of debt crisis, said Kyle Bass, a hedge fund manager and founder of Heyman Capital, said on CNBC.
Although investors are focused on the situation in Greece and other European countries, Japan will soon remind myself, says Bass
"Things in Greece will get out of control in the next 30 to 60 days," said the investor, became famous for their large short positions in subprime mortgage bonds before the collapse of the sector in 2007-2008
"Japan is a market crossroads ... I've never seen more undervalued opportunity in our lifetime, "he says.
Bank of Japan actually monetize the debt of the country by buying Japanese government 50 trillion. yen, Bass argues.
There are many dangers associated with strategies of central banks trying to print his escape from the debt crisis. These are inflation and loss of confidence in the stability of the debt, says Bass.
According to the approaching crisis is obvious. "The simple fact is that there is not an exercise in infusing liquidity. The question is when, not whether the system will collapse. "
Japan's aging population and the burden of system benefits, are the main factors resulting from debt problems.
Bass illustrates the words as an exemplar convicted for financial fraud Bernie Madoff fund manager. "He taught us anything," says Bass. "You can promise anything and everything as long as you do not have to do them."
As for Europe, Bass rejects the idea that Greece may adhere to contractual agreements. "Bankruptcy would not be controlled and eventually they will have to abandon their promises to the Troika," he said, referring to the European Union (EU), International Monetary Fund (IMF) and European Central Bank (ECB).
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.
Subscribe to:
Posts (Atom)