Kyle Bass is the founder of Hayman Capital Management located in Dallas. His company is a hedge fund focusing on global opportunities. After he launched this hedge fund, he became big in the financial services industry because he successfully predicted information about the mortgage crisis.
Concerns are raised about hedge funds because they pose a challenge to drug patents that intend to gain money by purposefully dragging stock market prices down. Kyle Bass tried to eliminate drug patents; he says that larger companies try to extend the patent by changing the dosage or packaging, and in turn this keeps the drug prices high. This makes it extremely hard for the consumer to get their medications.
As time went on, Kyle Bass has made multiple negative career choices that made his untrustworthy. The more he puts himself on the media, the more his performance quality decreases. Bass tends to side with those who do not know what they are doing with their economic investments. He also tried to shift blame whenever possible. For General Motors, he goes on the media to shift the blame; instead of GM taking the blame for their non-deploying airbags and faulty power steering, Bass helps them blame those who died because of these issues. He claims that the victims were drunk or didn’t wear their seat belts properly.
Another large mistake that Kyle Bass has made is in line with pharmaceutical firms. He picks certain firms and short-sells their stocks. After that, he challenges them against the Coalition for Affordable Drugs, causing the stocks to go down. When the stocks go down, the prices go up. The bad part in this is that they have less to invest in medical research, which hurts millions of people. These people rely on these firms to help with their pain, but for Kyle Bass, it just rakes in money for himself.