More serious than subprime?

“When you talk about orders of magnitude, this is much larger than the subprime crisis”

kyle-bass w

Kyle Bass

Kyle Bass of hedge fund Hayman Capital Management tells the Wall Street Journal that 85% of his portfolio is invested in trades shorting the renminbi and the Hong Kong dollar. He thinks the Chinese currency could fall 40% in next three years. It is his biggest wager since he shorted US housing in 2008.

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