Bass Fishing

I keep looking for something I can't get
Broken hearts, they're all around me
And I don't see an easy way to get out of this
--Cutting Crew

Kyle Bass holds his composure well in this interview (part 1, part 2) with a hostile BBC interviewer. Like many Big Govt types, the interviewer wants to implicate Bass in causing market meltdowns or profiting from the pain of others.

She also seemed to scold him for 'betting against government for personal gains.'

It would have been very hard for me to stay as diplomatic as Bass was in his replies. Bets against government will decline if governments decrease their behavior worthy of betting against.

We are on the verge of a global margin call; market forces will reverse the profligate behavior of governments regardless of what bureacrats want to do.

Precious comment in part 2, where Bass equates owning gold to owning a put against the idiocy of the political cycle.

Nicely said.

position in SPX, gold