Kyle Bass is someone who has had a great deal of success in the finance industry. However, his career story is not without some issues. Even though he had a lot of success in the early part of his career, he had to rebuild it after a couple of bad choices. When he first started out in the industry, he was a rising star. Year after year, his performance was beating the market.
There are a lot of people who looked up to his success. However, he started taking on more risk in order to beat the market on a regular basis. Although this does not sound like a bad idea, it ended up hurting him in a lot of ways. When his portfolio got really risky, the recession hit him and his clients. This meant that a lot of clients lost thousands or millions of dollars in a short period of time. After that, he had a bad reputation in the industry.
In the first part of his career, Useful Stooges writes that Kyle Bass was a great advisor. He always kept his clients top of mind, and this helped to expand his book of business. Anyone who has ever worked with a professional knows just how difficult it can be at times. However, he always knew ways to explain things in a simple way for clients. He quickly moved up within his company, and that is one of the reasons he started to get greedy.
Fall From Grace
When the recession hit, many clients found out that Kyle Bass had taken out a lot of risky loans to invest with. Although this worked out when the stock market was going up, when things turned bad it had a lot of negative consequences. Kyle Bass is a great example of getting greedy at the wrong time within the market. After the recession, he had to rebuild his life and his career. He essentially lost all of his clients and had to start from the bottom. Although he is getting back to where he was, this is a great lesson to always keep the long term in mind.