Kyle Bass seemed to be on the sure path to success by 2006 when he made his fortune with the prediction of the 2008 subprime mortgage crisis. Since then, he has made blunder after blunder, ruining his fame and fortune in the process.
Among his many mistakes, Bass accepts most invitations to go on television to make pseudointellectual claims or predictions out of either ignorance, ulterior motive, or a combination of the two.
Another notable mistake of Bass’ is his support of Argentinian despot Cristina Fernández de Kirchner. The situation is bad enough that last year, Argentina defaulted on its sovereign debt for the second time in thirteen years. Yet Bass continues to make numerous attempts to defend and rationalize de Kirchner’s irresponsible economic policies to this day.
Bass continued to show his willingness to make bad choices by having his voice heard when he came to General Motors’ defense. He attempted to shift blame over deaths in GM vehicles to the passengers when the fault was non-deploying airbags as well as defective power steering.
In addition to the previous embarrassments, Bass tried to make a quick buck by exploiting a legal loophole that allowed him to select certain pharmaceutical firms for the sole purpose of short-selling their stocks and challenging their patents through a front organization with an altruistic name, AKA: the Coalition for Affordable Drugs. As a result, the stocks would go down while Bass cashes in; the pharmaceutical companies’ prices go up, and their incentive for more medical research disappears.
With such a bad reputation like what Kyle Bass: The Frantic Investments of a Desperate Gambler covers following him around, it should be no surprise that Bass is secretive about his funds. It’s said that he’s lost approximately thirty percent of his available money in 2014. This could explain his shady alliances, desperate attempts to grab at money regardless of the amoral ends, and his need to get his name (and opinions) spread around the media through fallacious predictions and/or claims.
On that note, it’s a wonder if Kyle Bass ever had a gift like many believed with his accurate prediction of the mortgage crisis in 2008. He certainly hasn’t shown much promise or talent in the following years and continues to mar his own reputation with fast-cash schemes and baseless claims. It’s also a wonder what his next money grubbing plot will be once his pharmaceutical “altruisms” get vetoed.