J Kyle Bass: 'the man who sold the world'

Texan hedge-fund manager J Kyle Bass made a killing predicting the US sub-prime property crisis. And he stands to make another fortune if Greece defaults on its debts.

"For a state more associated with cowboys and cattle, Texas is home to a surprisingly big herd of hedge funds," says The Economist. It's a thriving industry, which traces its vibrancy to the state's "wildcatter" risk-taking tradition. Among its most celebrated figures is J Kyle Bass, the Bible school graduate famed for betting early against the US housing bubble and winning big. He could make a further killing if Europe falters.

When I met Bass, "I had an experience I've often had while listening to people who seem perfectly certain about uncertain events", writes Michael Lewis in Boomerang, a book on the economic crisis. "One part of me was swept away by his argument The other part suspected he might be nuts."

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