Kyle Bass, the founder of Hayman Advisors, will offer a keynote
address at the seventh annual AR Symposium, to be held Nov. 2-3
in New York City at the New York Athletic Club.
Bass has been ahead of the curve in global macroeconomic
thinking in recent years, arguing that the world's largest
economies face significant pain. For years, Bass's calls have
contradicted conventional wisdom, first with the housing
crisis, then with European debt and most recently with Japan's
Bass's subprime short in 2007 catapulted him and the Dallas
fund he runs into the spotlight. His views on the fragility of
the European Monetary Union, from which he has profited, have
likewise been vindicated after being ignored just a year ago.
When AR published Bass's recent investor letter, within days it
was one of the most-read items posted online since the launch
of the magazine last September.
Bass is one of several unconventional thinkers who will
speak at the Symposium, which will once again bring together
many leading managers and investors to exchange views on the
important issues of the day.
Paolo Pellegrini, the founder of PSQR Management and the
architect of the short subprime bet while co-managing the
credit opportunity funds at John Paulson's Paulson & Co.,
will also speak at the Symposium. Pellegrini foresaw the credit
bubble as early as 2005 and worked to devise the trades that
turned Paulson into the fourth-largest hedge fund firm in the
He launched his fund in 2008, primarily to manage the personal
wealth earned while at Paulson's firm.
Another controversial speaker is Michael Lewitt, president
of Harch Capital Management and author of "The Death of
Capital," which is excerpted in the Unhedged Commentary this
month. Lewitt's monthly commentary, The HCM Market Letter, is
widely read for its provocative views and excerpted on the AR
website. William Browder, who runs Hermitage Capital Management
out of London while investing in Russia—which has
forbidden him to enter the country—is also in the
lineup. On the investor side is Jim Berens, one of the four
founders of the Pacific Alternative Asset Management Co. and
responsible for the distressed debt and other credit funds.
PAAMCO has been at the cutting edge of institutional investment
in hedge funds.
This year, two panels will explore global macro issues. One
will feature a debate on China, while the other will look
across the pond to explore the future of Europe. Panelists will
debate whether China's economic expansion is sustainable or
will be floored by a decline in exports and an eventual real
While Europe appears, for the moment, to have mollified
investors, the future of the European Monteary Union is by no
means settled. Can the union stand or will it be forced to
eject some of its troubled members or break up altogether?
The opening panel will take a broad look at the state of the
hedge fund industry, and an investor panel will explore issues
facing the investor community. Strategy sessions will focus on
event-driven, distressed strategies and the future of oil
following the BP disaster in the Gulf of Mexico.
As in previous years, there will be ample time allocated for
networking during coffee breaks, lunch and cocktails between or
after the various sessions. We are also planning to offer
parallel stream sessions—allowing us to drill down
into more detailed topics that may not be of interest to all
delegates but which may be of great interest to some. More
details, including a booking form, are posted online at: