Kyle Bass Eyes 200-to-1 Leverage for New Bet on Hong Kong Crash (Bloomberg) Kyle Bass is going for broke on a currency trade that has burned bearish speculators for more than three decades. The Dallas-based founder of Hayman Capital Management is starting a new fund that will make all-or-nothing wagers on a collapse in Hong Kong’s currency peg, people with knowledge of the matter said. Bass, best known for his prescient bet against subprime mortgages before the 2008 financial crisis, will use option contracts to leverage the new fund’s assets by 200 times, the people said, asking not to be identified discussing private information. While the strategy is designed to generate outsized gains if Hong Kong’s currency tumbles against the dollar, investors stand to lose all their money if the peg is still intact after 18 months.
Nothing wrong with tossing a grand or two at it, see if it sticks. Unless his minimum buy-in is some dumb shit like 6 figures.
Man missed by a year (?) (based on his word in 2018/2019, it should have happened in 2019 summer or so)
I contacted them a month ago and they just returned my email today. They're only letting in qualified buyers. That basically means you have to have $5 million in your trading account to get in with them, $25 million if you have a private fund and $100 million if your an institution.