Well Regarded Hedge-Fund Manager Kyle Bass Predicts the Worst of the Crisis is a Month Away

by James DiGeorgia | 03/10/2020 4:56 PM
Well Regarded Hedge-Fund Manager Kyle Bass Predicts the Worst of the Crisis is a Month Away

Kyle Bass, a chief investment officer of Hayman Capital Management, believes “this too shall pass,” when it comes to the massive sell-off taking place in the U.S. Stock Market. Still, he’s not recommending buying any shares right now even after the Dow Jones Industrial Average 2,100+ nose dive on Monday.

 

COVID-19 Coronavirus Outbreak – World StatisticsEmail

Coronavirus Cases:

118,547

Closed Cases:

69,372

Deaths:

4,267

Recovered:

65,105

Currently Infected Patients

49,175

in Mild Condition

43,130

Serious or Critical

6,045

 

 

During a CNBC interview on Monday with Kyle Bass, the chief investment officer for Hayman Management said when asked about how long this weakness in the equity markets will last...

 “If you’re asking for when the financial markets see peak virus, I think it’ll be about a month from now.”

"Until the results from the first round of widespread coronavirus infection testing are tallied in the U.S., he’s going remain in a holding pattern.”

According to the latest numbers, there are now 118,547 cases of COVID-19 and 4,267 deaths. In the U.S., 28 people have died, with  885 confirmed cases as of Tuesday. But the true count is not known because of the shortage of test kits.

Bass confirmed what many believe while saying he’s in a holding pattern as he is watching…

 “…one of the most interesting financial collapses that we’ve seen in the past 15 to 20 years.”

However, Bass stressed that he'd be ready to pounce when he thinks the timing is right….

“There will be some amazing things to purchase on the back end of this,” Bass pointed out. The theme-park operator Six Flags and the airline sector as the kind of investments that will get hit the hardest but which he expects to be among the fastest to rebound.


Hyman Capital Management's Kyle Bass on coronavirus-driven sell-off, oil prices


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