Kyle Bass, chief managing partner and principal of Hayman Capital Management LP, makes more sense than most in my view. Here he talks about his firm’s investment strategy, U.S. fiscal policy, Europe’s debt crisis and how most asset managers and finance types repeatedly get the crisis wrong for their investors. Here is a direct link.
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I guess he counts himself as one of the only 3% who “get it right”. I did like his comment about letting the fiscal cliff happen. As a political move the outcome may however not be as he predicts.
One thing is certain, whether or not the cliff is extended, the ulta right will contiue to gather support and eventually tip the balance of power in a teetering society, he may then have a different view of his “bullet proof” portfolio.
He must have had a bit of a rough night with that Nixonesque growth and crooked necktie. So unlike his usual polished presence but then I guess he can afford it.
No worries:
http://www.irnnews.com/2012/11/16/obama-pushes-new-national-retirement-system/