(Yahoo Finance) Hedge fund manager J. Kyle Bass, the founder of Hayman Capital Management, made an ominous observation about the markets. Speaking at the SALT Conference in Las Vegas on Wednesday, Bass said: “If I was to draw an analogy to where we are today, comparatively speaking, to where we’ve been in the past, I think we’re in March or April 2007 in the context of the credit and equity markets.” This was the period that preceded the financial crisis, which led to the worst US recession since the Great Depression.
Bass, who shot to fame for his bet against the subprime housing market, noted that his fund closed all risk positions between July and December of last year in the credit and equity markets.
