The recent bullish flash from gold has attracted the opinion of Hayman Capital Management CIO, Kyle Bass, on the future of some assets like Gold, Silver, and Bitcoin, pointing in a tweet that Bitcoin, Silver, and Gold are ready for explosive growth.
Bass who is a staunch antagonist of the Chinese Communalist party and its guidelines seems to be confident about the three assets’ growth in the market. He believes that the US FED, among some other countries’ printing money production policy, would serve as a major facilitator for the expected explosive evolution.
To buttress his point Kyle Bass illustrated a chart where he claimed silver is trying to reprint its 10-year trend.
Who is Bass?
Before the institution of Hayman Capital Management in 2005, Bass worked between 1992 and 1994 with Prudential Securities.
Afterward, he joined Bear Stearns in 1994. His outstanding performance ushered his promotion to become a senior managing director at the company.
Bass, having an eagle eye, predicted to his bosses at Legg Mason, that he’ll launch his own firm in five year time. Meanwhile, he usually gives special investment policies to hedge funds and clients in other establishments.
Alas! His dream became a reality.
Bass’ Prediction about Real-Estate Bubble
In 2005, Legon Mason sold some quota of its business and Bass left the company. By the year-end, he launched Hayman Capital Management, L.P. with 33 million USD in assets under management.
In 2008, Bass’ popularity grew remarkable after he had predicted the real-estate crisis in the United States. Also in 2007, his apt prediction on annihilation of subprime mortgages earned him 200% returns for his customers.
Hayman Capital Management was forced to discharge most of its stock assets after investors withdrew nearly a quarter of the firm’s investment. This occurred in 2014.
2015 was however one of the most awful years for Bass, as he tagged the year the fund’s worst year.
Bass’ unsuccessful recovery oil pieces which failed in 2016 made him go almost bankrupt, and at the moment, he’s trying to make a killing on the possible downfall of Hong Kong’s money.
At the beginning of 2019, Hayman already had 423.6 million USD in flexible assets under management, however, this is low, compared to the $2.3 billion USD the company had in 2014.
Bass also assumed that Bitcoin was being used by the Hong Kong millennial for the purpose of capital flight.