Kyle Bass, a hedge fund manager and founder of Hayman Capital management, has been making news for making wrong business decisions. Kyle had risen to stardom by accurately predicting a mortgage crisis in 2008 and making a fortune out of that. But since then, he seems to have lost his magic touch if he even had it to begin with. He has been making bad call after bad call.
Kyle has also been making questionable alliances. While everybody seems to agree that Cristina Fernández de Kirchner and her economic illiteracy is the thing that is ailing the Argentinean economy, Kyle has been defending the woman any chance he gets. When the country defaulted on their sovereignty loan for the second time, Kyle defended the move. According to New York Post, Kyle sounded like Axel Kicillof, Argentinean economist minister. What unscrupulous deal has he entered with Kirchner exactly?
His unethical ploys do not stop there. In order to benefit from his investment in General Motors, he shifted the blame for deaths arising from the faults in the power steering and the non-deploying airbags of the GM cars onto the victims. On TV, he accused them for driving under the influence and not wearing seatbelts.
In his latest and biggest ploy that has the two houses of congress working hard to do away with the loopholes that has made the ploy possible. Kyle, wanting to make a quick buck, short-sells the stocks of some pharmaceutical firms, and then challenges some of their patents through Coalition for Affordable Drugs. The result is that the stocks go down while Kyle makes a killing. But this also drives the prices up and affects the many consumers depending on the drugs.
Kyle graduated from the Christian University with a BA in Business Administration in Finance and Real Estate Finance. Before founding Hayman Capital Management, he was a Senior Managing Director at Bear Stearns. He also worked as a managing director for Legg Mason. Kyle is a member of the board of directors for Troops First Foundation, Texas Ranger Association Foundation, University of Texas Investment Management Co. and Business Executives for National Security.
Kyle has lost his patent battle against Acorda Therapeutics Inc’s. This is after the U.S. Patent and Trademark Office refused to review two patents on the drug, Ampyra. The pharmaceutical industry has been raising concerns about the intentions of Kyle’s patent challenges accusing him of trying to make more money by driving the prices of the stocks down.
Kyle’s woes are not ending anytime soon. It is difficult to know how Kyle’s funds have been doing; he doesn’t reveal much. However, according to a recent report, Kyle lost 30% in 2014