Kyle Bass Investment & Market Ideas
By Barry Ritholtz - August 18th, 2010, 4:14PM
David Faber and the Strategy Session crew discuss today’s top story and keep you ahead of the money. They’re joined by hedge fund manager Kyle Bass, managing partner at Hayman Investments.
Airtime: Tues. Aug. 17 2010 | 12:01 PM ET
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Hedge fund manager Kyle Bass, managing partner at Hayman Investments, shares his market outlook and investment ideas with the Strategy Session crew.
Airtime: Tues. Aug. 17 2010 | 12:15 PM ET
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August 18th, 2010 at 7:02 pm
Fear-mongering. The detailed account facts and figures are a mystery to Kyle Bass.
Japan Facts: $5T GDP. $40K Per capita GDP. 65M workers. Public Debt $10T of which 95% is held by Japanese. Plus the Japanese gov’t has over 1T in forex.
“..If you net out the amount of debt held by different levels of government, Japan’s debt drops to about 160% of GDP. A further 53% of government debt is held by public institutions — the biggest one, Japan Post …”
“…Fitch points out that if you net out public sector assets, Japan is not such an outlier. The OECD provides figures for what it calls governments’ net financial liabilities. This figure subtracts from debt assets such as government deposits and loans to the private sector. Japan compares more favorably here, with net government financial liabilities at 97% of GDP, the same as Italy and versus 81% in Belgium…”
http://risingpowers.foreignpolicyblogs.com/2010/04/27/japanese-debt-bad-but-not-that-bad/
Japan won’t default.
August 18th, 2010 at 10:13 pm
Bass obviously believes that Japan will have trouble managing its liabilities in the form of government bonds. That is just absurd. Japan has already vaporized a ton government “debt” through quantitative easing. To compare Japan’s government debt to that of a household or business is classic stupidity. Words fail…