Raoul Pal & Kyle Bass

Published on
January 30th, 2015
Duration
50 minutes

Raoul Pal & Kyle Bass

The Chain ·
Featuring Kyle Bass

Published on: January 30th, 2015 • Duration: 50 minutes

To launch our exciting new series, The Chain, Raoul Pal travels to Dallas to speak with Kyle Bass. In this fascinating conversation, Kyle discusses event-driven vs. macro analysis, his approach to risk and portfolio sizing, and his motivational forces - from negative reinforcement, to freediving, to the epiphany moment. For the next interview of the series, Kyle Bass will interview one of his investment heroes - and The Chain continues on.

Comments

  • AF
    Aidan F.
    10 May 2019 @ 11:58
    could we get the written transcript for this one?
  • XF
    Xavier F.
    7 May 2019 @ 14:03
    this was excellent.... thanks to you both, I can relate to much that was said. Listening to this May 2019 and its still great.
  • JF
    Joseph F.
    23 January 2019 @ 03:55
    Self Awareness and Humility. The Keys.
  • RP
    Ryan P.
    19 February 2018 @ 20:51
    This should be shown in every intro to investments class for colleges. Kyle speaks to so much wisdom one only learns via years of experience. Amazing. Still relevant 3 years later.
  • AV
    Alvern V.
    12 June 2017 @ 02:13
    This Kyle Bass interview is still relevant 2 1/2 years later and one of the best interviews on RV. Awesome!
  • MT
    MICHAEL T.
    28 April 2016 @ 10:46
    Thanks for this great video!
  • RA
    Robert A.
    2 April 2016 @ 21:40
    Just watched for the 3'd time....now we know what the sly smile was about; shorting the Yuan and Hong Kong $. No more GM stock, et al and he is now "all in" on the smile trade.
  • Rd
    Rob d.
    12 February 2016 @ 23:37
    Managing IQ with excellent EQ is the name of the event driven game. Excellent interview into the mind of a great thinker and fairly humble person.
  • GA
    Greg A.
    16 January 2016 @ 16:23
    New subscriber here. That interview with Kyle Bass was worth an entire months sub.
  • DM
    Dennis M.
    25 October 2015 @ 19:21
    I'd like to know who the 26 people are who did not like this interview.
  • MA
    Melanie A.
    16 September 2015 @ 17:07
    So good. More Kyle please!
  • SJ
    Suzanne J.
    1 September 2015 @ 08:32
    Timeless, really. Just the nuances of thought and process. Educational, inspiring, cautionary, but above all a real and honest discussion. Excellent. Can't wait for more.
  • AH
    Andreas H.
    19 August 2015 @ 20:26
    Super!
  • ML
    Marvin L.
    29 June 2015 @ 18:09
    Frank, cogent, insightful and thought-provoking. Analyzing complex material in detail using accessible language offers an insight into his sublime logic. Worth the annual subscription alone.
  • dm
    dan m.
    22 February 2015 @ 06:40
    Druckenmiller can keep track of 250 positions? Bill Gross knew every position in Total Return better than the specialist PMs.
  • GG
    George G.
    16 February 2015 @ 14:20
    three months later this one interview is worth a years subscription. Having a friend interview KB smarter than professional journalist as subject seems more candid with his answers chain a great idea
  • RG
    Rajiv G.
    8 February 2015 @ 09:05
    Incredibly good interview on both sides. Really insightful in terms of process thinking.
  • SJ
    Shawna J.
    8 February 2015 @ 05:43
    This interview had a very insider/elitist feel to it and I don't think it'd represent well to the people in my world. Many interviews would, but not this one.
  • WW
    Worth W. | Contributor
    6 February 2015 @ 22:57
    Kelly - Hope this gives you some insight into Kyle's thinking on divergence & what it means for the global outlook. http://tinyurl.com/qgw68oa & http://tinyurl.com/nexdanj
  • WW
    Worth W. | Contributor
    6 February 2015 @ 22:49
    I've known Kyle for 7 years & helped to oversee investments into Hayman for a $6B FoF. This is a very rare & honest look into his process/thinking. Even more valuable than his current macro calls.
  • JA
    Jack A.
    5 February 2015 @ 07:07
    I don't mind the time lag from filming but I would like to know when it was filmed for context purposes. You used to put that up but it has changed to the 'published date', which is not that useful.
  • BH
    Blair H.
    4 February 2015 @ 16:15
    Sitting around talking about the old big trade from 8 years ago isn't that valuable. I am sure Kyle is a good guy but his returns since have been poor.
  • ma
    mark a.
    3 February 2015 @ 17:03
    hes an interesting bloke
  • CC
    Christopher C.
    3 February 2015 @ 14:51
    In reading the comments one can definitely tells those whom want a fish versus want to be taught to fish. Triply ironic given Kyle tells us how he learned to fish. Figuratively and literally.
  • CC
    Christopher C.
    3 February 2015 @ 04:09
    Great interview and inspiration. True points about Portfolio Management. Don't mind the time lag on release, these ideas are timeless.
  • ms
    mahesh s.
    3 February 2015 @ 01:53
    Good learning experience especially for a non financial person. Would love for you to create/use this to give us the macro pic and ideas to protect/profit ourselves for us non financial folks
  • KA
    Kelly A.
    2 February 2015 @ 23:49
    Thank you, Raoul and others for the operational definition and thoughts of/around Policy Divergence. Great interview. Now, i have to figure out how to play it.
  • PV
    Peter V.
    2 February 2015 @ 21:45
    The Chain is a simple but great idea.
  • FR
    Fields R.
    2 February 2015 @ 18:59
    The Chain is a superb idea and will be interesting to follow, beginning with this auspicious interview.
  • MG
    MARTIN G.
    2 February 2015 @ 18:24
    One of the best interviews done on Real Vision which begs the question of why we have to wait at least 3 months plus to see it?
  • NS
    Nico S.
    2 February 2015 @ 17:04
    Kyle brought up a simple statement that I believe will drive all markets and profits throughout 2015. Expect higher volatility markets and, maybe, the smartest trade of all is a long-vol position...
  • RB
    Roy B.
    2 February 2015 @ 02:32
    I don't think its about market trends and What's Happening Now. It's more about how does this guy think and does he offer ideas I can use. Diving analogy perfect. Make a mistake and it can kill you. T
  • BW
    Bruce W.
    1 February 2015 @ 19:38
    I'm more influenced by guys like Kyle who have made money based on their analysiis . Others would include Ray Dalio, Bill Gross and George Soros- great interview.
  • PS
    Philipp S.
    1 February 2015 @ 18:21
    would be interesting, but I am not watching a video from october last year. u r simply not up to date
  • MZ
    Mike Z.
    1 February 2015 @ 03:25
    Interviews are good, but I don't appreciate viewing interview 3 months after its taken place either. I've noticed this on a few others too.
  • NP
    Nirav P.
    31 January 2015 @ 22:00
    Excellent !!!
  • CT
    Craig T.
    31 January 2015 @ 19:55
    "Policy diversion". Since the interview we see Euro CB starting QE, Swiss Franc decoupled from Euro, US dollar up fast vs Euro and other currencies. It's happening now! Kyle and Raoul are good!
  • jd
    john d.
    31 January 2015 @ 19:14
    Good thx. Raoul, understand the philosophy - not trade-able ideas. However some value is lost via 3 month lag between interview and release. Realise constraints. Love free diving so that was good too.
  • RP
    Raoul P. | Founder
    31 January 2015 @ 19:03
    This series is not about getting tradeable views but about learning from others so we can learn to find our own unique investment ideas and style and invest successfully using them. That's value added
  • WG
    Wayne G.
    31 January 2015 @ 13:39
    Fabulous! "Policy divergence is where all the money is going to be made." Within a few weeks the SNB changes policy and tens of billions are made and lost overnight! Worth the subscription by itself!
  • E
    Erik .
    31 January 2015 @ 10:13
    Constructive criticism. We were told the idea was to stop talking-head TV. Check. And these views have shelflife. But lag between recordings & posting feels like filtering of info away from suscribers
  • VB
    Vincent B.
    31 January 2015 @ 07:18
    " when you trade on emotion you lose every time " Love the line, experienced the line Having terrible time staying unemotional- tell u truth i feel burnt out!!
  • BM
    Barry M.
    31 January 2015 @ 05:21
    My prediction, last interview of the Chain will be Bass interviews Pal, can`t wait, absolutely fantastic stuff, cheers !
  • PL
    Paul L.
    31 January 2015 @ 03:01
    I wanted to hear more about Japan....not spear fishing
  • JH
    John H.
    31 January 2015 @ 02:13
    He mentioned the problem in the plumbing that happened mid october. That's the money quote. Its always the unseen that has the greatest potential to upset the applecart. Got TLT?
  • FS
    Fred S.
    31 January 2015 @ 01:29
    "When you trade on emotion, you lose every time" - no truer words were ever spoken. Now, how do you corral emotion and improve your trading game. Mechanical doesn't work either.
  • RP
    Raoul P. | Founder
    31 January 2015 @ 00:42
    Kelly - Policy Divergence - When central banks are doing the opposite. i.e when Fed tightens and ECB, BOJ, MAS, PBOC, etc are cutting
  • AC
    Arthur C.
    30 January 2015 @ 23:02
    Outstanding
  • KA
    Kelly A.
    30 January 2015 @ 22:55
    I need an operational definition of policy diversion, please, anyone.
  • JS
    John S.
    30 January 2015 @ 22:05
    Simply blown away - outstanding
  • SL
    Stephen L.
    30 January 2015 @ 20:11
    What a fantastic idea and a really enjoyable discussion ... well done guys!
  • L
    Leonard .
    30 January 2015 @ 20:05
    Excellent interview! Great concept for interviews...
  • IL
    Ian L.
    30 January 2015 @ 16:28
    Actually a little disappointing. I thought we were going to find out how Kyle thinks it all ends rather than spear diving and HR policies
  • PH
    Philip H.
    30 January 2015 @ 15:38
    Love the Chain Reaction concept. A kind of best of the best from market participants. Excellent!
  • CH
    Colin H.
    30 January 2015 @ 15:33
    "The greatest battles you and I fight is in our heads". I've started being consistently profitable recently, and I credit it to developing the right mindset, so I find this quote fascinating.
  • CH
    Colin H.
    30 January 2015 @ 14:39
    Great idea
  • bp
    bart p.
    30 January 2015 @ 14:35
    Very good interview, already can't wait for the chain to continue lengthening. Keep it up!
  • HW
    Harold W.
    30 January 2015 @ 14:24
    Great interview. Starting to wonder previous to this if I would renew when the time came, but this and hopefully more to come make Real Vision very worthwhile