Kyle Bass Likely Made Nearly $10 Billion on Greek CDS Trigger (Update)

This is an updated post where we calculate how much Kyle Bass possibly made yesterday. We are in the process of obtaining exact numbers, if we do this post will be updated. One fund manager was certainly glad to hear the news today that there would be a payout on Greek Credit-Default Swaps, a situation which had been in doubt until the ISDA announcement today. Kyle Bass has been an advocate of the forecast that Greece would have a disorderly unstructured default for some time and bought much of the swaps he hoped would pay out in such circumstances. That…