Kyle Bass, a US hedge Fund Manager & head of Hayman Capital Partners of Dallas Texas, made billions in the midst of the current economic crisis especially during '07 &'08. After much research, and beginning in '06 he began shorting those market areas directly tied to U.S. subprime real estate lending, very much a contrarian approach to investing at the time. His story was featured here in the U.S. on CNBC TV's special production titled, "House of Cards" narated by David Faber. (link to short film clip: http://www.cnbc.com/id/15840232?video=1029066462)

Since he was one of the very few professional US money managers who actually made money during the crisis, what he has to say today, may be worth reading, at least it is IMHO. The following is a link to Bass's latest thoughts about markets directed toward Hayman shareholders, and dated 10/2/'09. It's a rather long read- 24pp. total, and I hope you find it interesting:

http://pragcap.com/must-read-haymans-latest-market-missive