Kyle Bass is primarily known for his prediction of the worst financial crisis in the past century, the 2008 recession that had effects reach all over the world. He was able to obtain information about how the biggest banks in the United States of America were giving out loans to people that didn’t make enough money to comfortably pay their mortgages back. Bass bet against these debtors being able to pay their debts to the banks by investing in what is known as credit default swaps. Kyle Bass was able to earn quite a bit of money from this happening. Not everybody has the capability to successfully predict something with the magnitude of this, which proves Bass as one of the premier investors of his time. Unfortunately for Kyle Bass, he has not made many good career decisions with his bright brain that he has.
From 2010 to 2014, UsefulStooges.com writes that Kyle Bass thought that Japan’s economy would undergo a recession. To this day, Japan has not had a recession, and their economy is actually doing fine. Bass really showed his rear end when he went on national television to announce his predictions for these five years in a row.
Bass filed a lawsuit against Acorda Therapeutics because he felt that they charged too much money for Ampyra, their patented drug that was meant to treat people with multiple sclerosis. Companies who develop drugs should have the patent to the medicine because of all the funding they had to obtain for the development of the drug. Bass tried to take that patent away from Acorda, but the courts rightfully ruled against Bass because Bass was doing nothing but trying to defame the company and earn some good money in the process. What is wrong with this man?
Another one of the wrongful things that Kyle Bass has done in his career is backing up General Motors when they produce many vehicles that had to be recalled back to the plant because of defects in tires produced by Firestone. Bass said that people who bought the vehicles were at fault for breaking the vehicles, rather than General Motors for producing the vehicles in the first place. Kyle Bass had investments in the company at the time, so he felt as if he owed the company good words because they had earned him a significant chunk of money.
Kyle Bass could have had a great career, but he has been plagued by a terrible sense of decision making. Bass does have a great business mind, and nobody can deny him that fact, but nobody can deny that he has made plenty of good decisions, because that could not be any more distant from the truth.