Anyone who has endeavors in the world of business needs to know exactly where and how they stand in the field, for a variety of reason. Kyle Bass, a hedge fund manager, is a prominent example of all of this.
Kyle Bass was born September 7, 1969 to his parents, while they made their life in Miami. For the majority of his youth he stayed in Florida while his father work at an upscale hotel on Miami Beach. After completing high school, Bass left Florida and move to Dallas, Texas and then chose to attend college at Texas Christian University in Fort Worth. He graduated in 1992 after having earned his degree in business administration in finance and real estate finance. After his graduation from college, Prudential Securities was the first job that he took on but he stayed there for only a temporary period. After this he took a job at a Bear Stearns office and from there, became a managing director at the Dallas branch of the Legg Mason company.
Kyle Bass‘ most important achievement comes from being the principal manager of Hayman Capital Management, LP, a hedge fund company also situated in Dallas that serves as a special situations fund around the world. Bass had founded the group in 2006 and was able to get it started by raising around $33 million from people he knew, and also adding in some of his own saved up money. While at Hayman, Bass was responsible for several important moves, one of the important ones was in the form of studying the mortgage market heavily and using that knowledge to earn a residential mortgage backed security (RMBS). After gaining this knowledge, Bass chose to buy several of these and had managed as much as $4 billion in RMBS and was also able to start making a fortune by betting against these moves and saving the company some money.
Even though Hayman has been a success, Bass’ career as a whole has not been absolutely perfect. One major controversy Bass was involved with was having unending support for president Cristina Fernández de Kirchner of Argentina. Kirchner has the dubious honor of being the one who allowed her country to default on its sovereign debt twice in a thirteen year span. So many analysts and critics have called her irresponsible and only leading to more future economic struggles, yet Bass has continued to do nothing but have support for her at every chance he could get. Bass has also been the one to throw a New York judge under the bus for deciding that Kirchner needed to pay back creditors for money that they felt needed to be returned to them.