Hot off yesterday's well regarded February investment letter, Hayman Capital's Kyle Bass made a visit to CNBC today. During his comments the markets fell relatively substantially as if traders awoke from a coma realizing there might be 1-2 risks somewhere in the world....although to be fair, rumors of Iranian warships sniffing around the Suez Canal were circulating. No worries though, the minute he left the air S&P futures were ram rodded right back up. We already had one negative day this week (only the 3rd of the month) and that is all the juice bears get.
Bass touched on many topics... when asked why the market is up, he compared the U.S. (in relative terms) to Zimbabwe - i.e. if you print enough money you can make anything elevate, but probably the biggest bombshell from this seat was that he was asked to talk to a bipartisan group of people from Congress and they listened. (gasp) Not only that, they asked him sensible questions (double gasp). Anyhow, as with everything nowadays this has no market impact, but strictly for mental exercise.
2 videos below - email readers will need to come to site to view