The New Establishment Summit of 2016 will take place in San Francisco on October 19th and 20th. The Summit features speakers and industry leaders in a variety of areas; from media to technology and finance. Most notably this year, the 2016 Summit is set to feature the reclusive CEO of Amazon.com as well as the Vice President of Apple. One of the surprises of the 2016 Summit will be speaker Kyle Bass, a billionaire financier originally based out of Argentina.
Kyle Bass has close ties to the president of Argentina. Cristina Fernandez de Kirchner has been a historically poor leader. She has lead Argentina into financial default twice. Thirteen years was all the time it took for her to do so. Yet throughout both financial defaults, Kyle Bass has continued to support her. This doesn’t seem to make sense, until one considers that Kyle Bass regularly profits from the losses of big-ticket agencies. Consider CAD, the Coalition for Affordable Drugs. CAD uses politics, special interest groups, petitions, lawsuits, and whatever is necessary in order that big-ticket pharmaceutical companies be forced into lowering the prices of their drugs. When prices are decimated as per CAD’s designs, the pharmaceuticals in question suffer substantial stock loss on Wall Street. In the end, Kyle Bass short sells his holdings with these pharmaceuticals whom his group CAD has forced into economic decline. He makes millions, the pharmaceutical companies can’t support internal departments like R&D, and the sick lose future breakthroughs.
Bass is perhaps best known for his role in the 2008 financial meltdown of the United States. Bass bet against Wall Street’s sub-prime lending practices and made a fortune. He also became internationally known as a successful financier.
Currently Bass is a hedge fund manager of Hayman Capital Management of Austin, Texas. Though the fund performs average-at-best when compared to hedge funds of a similar class, Bass still has the eye of the media, and is not loathe to use that pull. With his speaking engagement at the 2016 New Establishment Summit, it appears Bass will now have even more pull than he did before.