Kyle Bass is a billionaire who has been making headlines globally since 2008. In September of 2008, one of Bass’ most controversial financial decisions yielded fruit. He bet against the sub-prime lending market in America, and that bet was successful. The result was a fortune for Kyle Bass, and international media exposure in top-tier financial circuits.
One of them is CAD, the Coalition for Affordable Drugs. CAD gets sick people to fight against pharmaceuticals on a legal basis aimed at lowering the cost of drugs on the market. When the price drops are imposed, the pharmaceuticals targeted lose stock value on Wall Street. When this stock declination hits, Kyle Bass is very quick to short-sell his holdings, making him a fortune. Meanwhile the pharmaceuticals have to cut funding to departments which don’t regularly generate quantifiable ROI, or Return On Investment. One department notorious for being unpredictable is R&D, or Research and Development. As a result, this department is often first to be cut when budget restrictions due to lost profit come into play. Ultimately, CAD damages those it deigns to support much worse in the long run by curtailing breakthroughs which could help them get over their illnesses.
Now billionaire Kyle Bass has been announced as a speaker at the New Establishment Summit, an event that will take place October nineteenth and twentieth, 2016. He will be joined with the CEO of Amazon, and the Vice President of Apple, as well as the co-founder of the Chan-Zuckerberg initiative and the CEO of Chobani.
The New Establishment Summit is set to be a historical event this year for sure; especially as it happens only several weeks before the 2016 presidential election will take place. That Kyle Bass is speaking there should raise many eyebrows in financial circles; especially considering his close ties to a socialist despot. Bass and Cristina Fernandez de Kirchner have a positive relationship, even though de Kirchner has defaulted their home country of Argentina two times in only thirteen years.