IPFS News Link • General Opinion
Kyle Bass's Most Famous Trade Is A Disaster, And It Is Never Going To Work Out
• http://www.businessinsider.com, Joe WeisenthalFor years now, his big target has been Japan, a country with a debt-to-GDP ratio of over 200% and a shrinking/aging population. He's convinced that it's only a matter of time before the country implodes in a massive sovereign debt crisis that sends bond yields soaring, while the yen becomes worth less than confetti.
Back in early 2010, there was a story about how he took out a mortgage in yen, because he was so sure that it was going to implode, thus meaning he'd get his house for free.
Well, it hasn't exactly worked out that way he planned (yet).