Tuesday, February 15, 2011

Kyle Bass' Hayman Capital February 2011 Letter - The Cognitive Dissonance of it All

13Ds of all the top managers are being analyzed today, and much of the clucking over the top managers' positions I find to be a bit bemusing.  How many times can I buy Citigroup (C) because Tepper and Paulson are in it?

Instead of focusing on what Buffet sold last quarter (45 days after the fact), let's showcase the always insightful Kyle Bass, through the lens of his February 2011 investment letter.  I haven't had time to read the whole of this yet but since it is Kyle Bass I will assume it is enlightening.  There is also an attachment highlighting the professional backgrounds of the 11 Fed board of governors and based on the structure of the piece, I assume Bass is highlighting what little corporate experience most have (6 of the 11 appear to have never worked outside of academia).

As always hit 'full screen' for the easier read

First the letter -

Kyle Bass - Hayman Investor Letter - February 2011                                                                

Next the Fed Governor backgrounds -

Kyle Bass - Hayman Investor Letter - February 2011 - Fed Governors Attachment                                                                

Courtesy Absolute Return+Alpha

[Oct 7, 2010: Kyle Bass of Hayman Capital at Barefoot Economic Summit - Part 1]
[Aug 18, 2010: Kyle Bass on CNBC August 2010]
[May 13, 2010: Kyle Bass of Haman Capital - The Pattern is Set, Betting the Bank on a Keynesian Free Lunch]
[Jan 13, 2010: Kyle Bass of Haman Capital - Japan Defaults on Debt or Devalues in 3-4 Years; US in 10-12]
[Oct 5, 2009: Kyle Bass Hayman Capital October Letter to Investors]

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