The United States subprime mortgage crisis was a nationwide financial crisis which occurred between 2007 and 2010, and contributed to the U.S. recession of December 2007 – June 2009.
He later moved to Dallas, Texas. in finance with a concentration in real estate. . Kyle Eastwood (born May 19, 1968) is an American jazz musician and actor. Paulson & Co. Inc. is an American investment management firm, established by its president and portfolio manager, John Paulson in 1994. These included fiscal policies of governments; monetary policies of central banks; measures designed to help indebted consumers refinance their mortgage debt; and inconsistent approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses.      , From August 2010 to May 2019, Bass was a member of the Board of Directors of the University of Texas/Texas A&M Investment Management Company (UTIMCO), an endowment fund for Texas public universities. Sculptor Capital Management is a global diversified alternative asset management firm.
 In February 2014, Bass said that Argentinian bonds represented a profitable opportunity and called Argentina a most "interesting" nation for investments. His fund has also challenged patents held by drug companies and shorted their stocks.
 , In 2001, he joined Legg Mason, signing a five-year deal to form the firm's first institutional equity office in Texas. He is the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund focused on global events. Pine River Capital Management L.P. is an asset management firm. Prior to that, Kyle is the member of the board of directors of University of Texas Investment Management Company that manages more than $27 billion of the assets. He is the native of Miami, Florida where his father used to manage Fontainebleau Hotel. He was the founder of the hedge fund Scion Capital, which he ran from 2000 until 2008, before closing the firm to focus on his own personal investments.
  The drug patent challenge campaign fizzled after several legal setbacks. J. Kyle Bass (born September 7, 1969) is an American hedge fund manager. In December 2005, when Legg Mason sold the portion of the business where he worked, Bass left Legg Mason and started Hayman Capital Management to serve as the investment manager to a "global special situations" hedge fund that he planned to launch. securities the rating agencies designated "triple-A". Kyle Bass Calls Editor of China’s Global Times ‘A Disgrace to Humanity’ 82 Mike Windle/Getty Images for Vanity Fair. All Right Reserved. As such, it is a complex derivative financial security sometimes described as a bet on the performance of other mortgage products, rather than a real mortgage security. , The long term performance of Hayman Capital's flagship fund is described by the New York Post as "small caliber".
 The fund also gained 16% in 2012 based on bets on Greek debt.  The Chinese company included the financials of Hayman’s Japan Macro Offshore Partner, L.P.  as Renren “can exercise significant influence, but not control…” , Cullen Roche criticized Bass's Japan analysis in August 2010, noting that Bass comparing Japan to the EU was an error, since their monetary systems are wildly different. His father later moved the family to Dallas, Texas where he managed the Dallas Convention and Visitors Bureau. The book investigates the reasons and consequences of the subprime mortgage crisis and the role that hedge fund manager John Paulson played in those events. September 14, 2011, Bass maintained on CNBC that Greece's only way out of its debt mess was a restructuring.     In 1992, Bass graduated with honors, earning a B.B.A.  Bass has made prominent bets based on predictions of debt crisis in Japan and European sovereign debt, and shorted the Chinese yuan premised on a predicted collapse in the Chinese banking system. He owns a 2400 acres Ranch in Texas upon which a beautiful and luxurious mansion is built. He came to limelight after he successfully predicts and benefits from Subprime Mortgage Crisis by purchasing the credit default swaps on the subprime securities that were issued by various of investment banks. Among other accomplishments, Bass was a proud member of the collegiate social fraternity, Kappa Sigma, at Texas Christian University from 1989 to 1991 but parted ways from the fraternity prior to graduation. The company is currently managed by founder and CEO Brian Taylor and 17 partners.
 In the period from 2008 to mid-2015, the flagship fund experienced a very modest annualized performance of 1.56%. J. Kyle Bass (born September 7, 1969) is an American hedge fund manager.He is the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund focused on global event-driven opportunities..   In 2014, Renren, Inc., a Chinese company headquartered in the Chaoyang District, Beijing, China invested $30 million in Bass' pharmaceutical strategy through Hayman Credes Offshore Fund, LP, registered as a Cayman Islands exempted limited partnership and claiming Hayman Offshore Management as its General Partner. , In June 2015, Celgene received permission from the U.S. Patent and Trademark Office to file a motion seeking sanctions against the CFAD for allegedly abusing the patent-review process. IKB Deutsche Industriebank AG is a bank headquartered in Düsseldorf, Germany.  By early 2019, Hayman had $423.6 million in discretionary assets under management, down from $2.3 billion at the end of 2014. A synthetic CDO is a variation of a CDO that generally uses credit default swaps and other derivatives to obtain its investment goals. Celgene also told the patent office, through counsel, that CFAD had threatened to challenge its patents unless Celgene met CFAD’s demands.
The Wall Street Journal noted that this development was “being closely watched because it raises the possibility that patent officials may put an end” to Bass's patent-challenge scheme.
  Renren, Inc., a Chinese company headquartered in the Chaoyang District, Beijing, China invested $80 million in Hayman's Japan Macro Opportunities Offshore Partners, LP, a Cayman Islands exempted limited partnership, between November 2011 and January 2014. Fortress Investment Group is an American investment management firm based in New York City.  . He has served on or is currently serving as a board member of the University of Virginia Darden School of Business Advisory Group for the Richard A. Mayo Center for Asset Management, Texas Department of Public Safety Foundation, Business Executives for National Security, Comeback America Initiative, Troops First Foundation and Capital for Kids, and University of Texas/Texas A&M Investment Management Company.
U.S. House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, University of Virginia Darden School of Business, Business Executives for National Security, "Kyle Bass, The Man Who Shorted The World", "Kyle Bass' Comeback Plan: Oil, Argentina and Patents", "Kyle Bass: Troubling Times for His Strategy", "Investor Who Won Big Betting on Housing Collapse Falters With China Bets", "Bass Battled U.S. Drug Patents and Prices But Lost to 'Cabal, "Kyle Bass, Steve Bannon accuse Wall Street of 'funding the Chinese Communist Party's' economic war on the U.S.", "Don't Mess With Texas, An Interview with Kyle Bass", "Hearing of the Role of Credit Agencies in the Structured Finance Market, Testimony of J. Kyle Bass", "Hedge Fund Manager Makes Lonely Defense of G.M.
In December 2007, after a wave of foreclosures had swept across the US, Bass was featured on Bloomberg TV as making a fortune betting against these subprime securities. During his testimony, he addressed: i) the role of credit rating agencies in the structured finance market and ii) policy measures that could be taken to minimize inherent conflicts of interest between rating agencies and issuers.  When the Argentine government defaulted on its debt in July 2014, Bass supported the move and criticized the bondholders, notably Elliott Management and Aurelius Capital, that, with the support of U.S. federal judge Thomas Griesa, had held out for full payment. Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS). Bass noted that despite the strife it would bring to Greece it was the only measure the nation could take. During his testimony, he addressed his analysis of the factors that caused the crisis. Marathon manages a family of investment programs principally focused on credit strategies including hedge funds, managed accounts, single-client funds and collateralized loan, and debt obligation vehicles. After the brief stint at the Prudential Securities, Kyle started to work at Dallas Office of the Bear Stearns.  Bass admitted in a late 2014 interview that it had been "a tough year" for Hayman due to owning a lot of GM stock, which was the fund's biggest position in 2014.
 Shortly after launching the hedge fund in February 2006, Bass became convinced that there was a residential real-estate bubble in the United States one of the few investors to successfully predict and benefit from the subprime mortgage crisis, bringing him fame in the financial services industry. The firm trades stocks, fixed income, derivatives, warrants and listed investment vehicles. He is the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund focused on global events. The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City. ", "Kyle Bass Bullish On GM, But Still Thinks Japan A Disaster", "Kyle Bass' post-crash returns small-caliber", "Kyle Bass, a sharpshooting short-seller", "Hedge-Fund Honcho Kyle Bass Takes Aim at Hong Kong 'Time Bomb, "The full subprime letter from Hayman's Kyle Bass", "Hayman Capital's Kyle Bass Predicts Sovereign Defaults", "Kyle Bass Betting Against Japanese Government Bonds (JGBs)", "Kyle Bass: - This is the formula behind my investments", "Kyle Bass' Japan Macro Fund Down 29% for April", "Kyle Bass bets on full-blown Japan crisis", "A Roadmap to SEC Reporting Considerations for Equity Method Investees", "Kyle Bass's Most Famous Trade Is A Disaster, And It Is Never Going To Work Out", "Hayman Capital up 24.8% in 2016; Remains Bearish Amid 'Severe Imbalances' in Asian FX Markets- 2016 Letter", "KYLE BASS WITH DAVID FABER - 'GREECE WILL DEFAULT AND IT'S GOING TO BE UGLY FOR EUROPE, GERMANY AND THE U.S.' (17 BAILOUTS FOR 17 EURO NATIONS)", "Kyle Bass: You Know How This Ends Right?
, In 2015, Bass organized the Coalition For Affordable Drugs (CFAD) to use the inter partes review (IPR) process to challenge patent validity. J. Kyle Bass (born September 7, 1969) is an American hedge fund manager.
, Bass argued in 2015 that the Chinese banking system was undercapitalized and its foreign reserves would be insufficient in a crisis.
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