Kyle Bass is an American entrepreneur and investor who is known for correctly predicting the 2008 worldwide financial crisis. The 2008 recession happened because a few of the largest banks in the United States were making too many loans to people who were not qualified for such loans, and many people eventually defaulted on the loans. Once some people started defaulting, it seems as if everyone else with loans caught along and stopped making payments, as well. To correctly predict a recession is something few people have done, and is mostly luck. Not to say a beginning investor could predict a financial crisis, but there are not really any key indicators as to if a recession will take place.
Useful Stooges said that it may sound as if Kyle Bass knows exactly what he is doing as a businessman, but that couldn’t be any farther from the truth. Kyle Bass has made numerous negative career decisions that has tarnished his image, not to mention incorrectly predicting a financial crisis in Japan for five years in a row, from 2010 to 2014.
One of the negative things Kyle Bass has done most recently is acting out against Acorda Therapeutics, who has a patent on the drug Ampyra, which is used to help treat multiple sclerosis. Bass tried to rip the patent away from Acorda, but his lawsuit was thrown out. Bass claimed that it would be good for multiple sclerosis patients, but many thought it was just because Bass wanted to make a quick buck.
Bass has also experienced failure with another one of his endeavors, this time his company called Celgene Corp. Bass really needs to clean up his act if he wants to be known as a reputable businessman – as if his reputation could ever start to clean up.
Kyle Bass has been in the news on major news networks such as CNN a lot, providing tips, tricks, and other suggestions to viewers of the networks. Bass is known to have given incorrect and misleading information a number of times, including his incorrect prediction of Japan’s economy crashing for five years in a row.
Bass has lots of investment in the major vehicle producer General Motors, and is known to have spoken out negatively against consumers of General Motors’ products (where is the sense in this?). One time, some of General Motors’ vehicles’ tires popped without any fault from consumers, and caused quite a few injuries and deaths.
The injuries were caused by faulty tires installed in the vehicles by some General Motors employees, not the consumers.