Real Vision co-founder, Grant Williams, recently sat down with Kyle Bass, founder and CIO of Hayman Capital Management, to get his take on sizing positions, China and the appeal to hold gold.
Also see
China’s $34 Trillion Experiment Is Blowing Up – Kyle Bass –
Bass shares his views on the importance of having conviction on a thesis and the core process behind this, stating, ““Its easy to maintain a conviction, its harder to maintain investors.”
Bass and Williams go on to discuss the credit growth in China and how China’s many bad loads will overwhelm the US monetary policy. Kyle compares the GFC to the current Chinese NPL crises rolling over and warns over the cognitive dissonance of participants.
“China are so far ahead of the world’s excesses in prior crisis, we are facing the largest macro imbalance in global history and to this day I cannot understand why people don’t see it for what it really is. When I look at what’s happening now in China, the amplitude is 2-5 times what it was in the US. The parallels are similar but the imbalances are much larger in China”, says Bass.
Williams questions Bass on the appeal to hold gold, why he believes the US rates are going down and also his views on Japan.
Also see
China: The Next Crisis – Kyle Bass
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