In 2006, Kyle Bass, founder of Dallas-based hedge fund Hayman Capital Management, made a fortune, when he correctly called the collapse of the subprime mortgage market. For a short period of time, he was a superstar. Many people felt that he was a genius investor who could do no wrong.
Well, since that time, Bass has not had another genius ideas. His hedge fund has lost money and he has lost investors. In an effort to have another major windfall, he has been pulling tricks in order to manipulate the markets. The market he is currently targeting is the drug and pharmaceutical market.
He never passes up an opportunity to go on television and make predictions in an effort to cause the markets to swing his way. In addition to making bad market moves, he had hooked up with Cristina Fernandez de Kirchner. She is the widow of former Argentine president Nestor Kirchner. She herself was President of Argentina from 2007 to 2015. She is said to have been the worst thing to ever happen to the Argentine economy. She and her cronies completely ripped off the Argentine people.
UsefulStooges have shown that Kyle Bass has gone on television and blamed the owners of General Motors automobiles for causing the problems with non-deploying airbags and faulty power steering, saying they were either drunk or not wearing their seat belts. He owned shares of GM at the time.
Bass together with Erich Spangenberg, picks out pharmaceutical firms, short-sells their stocks, and then tries to have their drug patents reversed. They use a front company, the Coalition for Affordable Drugs, whose claimed goal is to protect consumers from overpriced drugs. The company is a fraud. The stocks drop, allowing Bass and Spangenberg cover their short positions at a profit. In the long run this causes many pharmaceutical companies to forgo research for new drugs, harming millions of people who need them. The Patent Trial and Appeals Board is trying sanction Bass.
It is a shame that Bass does not use his mental skills to predict real trends, rather than using under handed tricks to make money.
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