hedge fund manager kyle bass that argentina's restructured bonds. d was bigger than the risk. i spoke with kyle yesterday. has ruledeals court that the bonds he owns cannot be paid in full and less argentina also pays holders of the company's default and debt. >> when we enter these bonds, they were trading around $.55 on the dollar, today they are $.73. back then, i thought in a court ruling, the supreme court decided not to take the case. we had five to seven points of downside from 55. the upside is power. when i think about the asymmetry of risk reward, it was kind of down 10% or up 50%, it was a five to one that. >> one of the owners of that paullted argentine debt, singer. kyle bass likes his position a lot more than -- likes his position more than singer's. ande is a very shrewd man he makes money for his investors. it is not -- it is not kyl versus paul, i am just opining on what i think the court case will do. i think he has a larger chance of losing. >> that is today's latin america report. >> a takeover dance that dates almost two months.

kyle bass rocks at his job. so does the boss.e're going to show you the pieces that are selling at auction. but first, kobe's new kicks. the lakers star has a new line of shoes. will he be wearing them on the court anytime soon? we have the answers coming up next. ♪ >> the last time we saw the los angeles lakers superstar, kobe bryant, on court, he was limping. that was during the playoffs. he had a ruptured achilles tendon that kept him on the bench. he has unveiled his ninth signature shoe. as for what we will see him and his shoes on court together, some expected it tomorrow. now, it looks like sunday, at the earliest. >> i will probably be wearing them, but it probably will not be on the basketball court. >> after so many years on court, we had to ask him what his dream team would look like? >> magic, myself, darrell russell, kareem abdul-jabbar, and larry bird. >> no michael jordan? ouch. we will have our full interview tomorrow. while kobe's return will likely be a sellout, another story for tonight's knicks-nets game. tick

kyle bass's fund has taken a stake in general motors. stephanie ruhle spoke with kyle bass. why hewe get to gm and is going long on the carmaker, talk about herbalife and his battle against bill ackman. >> it is not necessarily a battle against bill ackerman. kyle bass has done a lot of work. he associates the fact that there is such high youth unemployment, may be that is why there is multilevel marketing. he is long herbalife and feels good about it. >> we are catalyst-driven investors, and in this case the catalyst is coming in the next 60 days were they will have a three-year audit done. there were not allegations of an improper audit. .ou have a re-audit being done they will be able to access the capital markets, borrow one billion, $2 billion. finances innot see the next month or two months, would that change your tune? >> it will. they have said on conference calls that it will be done by year-end. not,nuary 2, if they do will happen to your investment? >> it depends how i am positioned going into january 2. >> we started talking about herbalife one bill ackman called

role -- stephanie ruhle spoke with kyle bass. >> i just think the u.s.as been selling gm for a long time, and i think they are almost out. i think there were prohibitions put on g.m.'s management by the u.s. treasury making it government motors and now it is about to be general motors again. it is a fascinating time and a catalytic time to be investing on the back of treasury's final sale. i think it will release management to be able to put in and do set of comp plans something shareholder friendly both from a share buyback respecter of and from a dividend perspective. >> jeff and he joined -- stephanie joins us now. will he go when pressing for change? path for investment, significant investment. but i said to him you are getting involved with the gm now that government is out. what about financials? we have seen financials make a big push after they have come out from being under so much government assistance. he is not touching u.s. financials. in europe, he is going short european banks. it is not just getting the government out of your business mea

down nine percent after kyle bass says he is exited his entire stake in j.c. penny. the epic tale that is almost real. china mobile with its 700 and 89 million customers won government approval to start service on a 4g wireless network. the market clearly hopes it can take more share. soaring to new 52- week highs. here to explain how a deal between the two most important mobile phone carriers, companies change yourt might world, we have brian marshall, senior managing director her. jonathan heller. , a principal at wedge partners. china, a huge opportunity. what will it mean for apple if this happens? >> it will only need a little bit out of the gate. this will be a very expensive phone. they do not subsidize handsets the way they do in the united states. it will be a $800 purchase for consumers. it will be meaningful but maybe 18-20,000,000 units next year. >> 18-20,000,000 units? right now there are 12- 13,000,000 units that have been sold that are on china mobile's network that have come from hong kong, kind of through the back door. total about 20l next year, wh

it's kyle bass, it's -- it was dan.ll ackman has this trade right fundamentally, if he's that big, he could still lose. and that's an argument to be made here. there's a difference between a crusade and a trade. if bill is on a crusade he's not going to win. >> the chart here is direct. stephanie, how bad is he getting hammered? >> let's put things in context. this is a short position. so if he was just outright short he could get taken to the cleaners. if this thing goes to 1,000 he's dead. he could get carried out and he said he will take the trade to the end of the earth. but he has modified the trade so he's limited his downside risk. so you're talking about a $12 billion fund. this is clearly a major position. he has other trades on. ggp is a huge win for him. but he is so outspoken, so definitive about this trade it is making people feel uncomfortable. >> you spoke to him earlier in november. did he give any indication on how his thesis has evolved since herbal life has been attacking back? >> that's one thing tha

. >> kyle bass has cut on a position in general motors and talked about where the levels are in the next 12 to 18 months. i think the key words are 12 to 18 months. i think there's downside pressure to the mid-30s. i think you can buy it cheaper. >> deere is popping today. i think we know why. >> big buy back, $8 billion buy back. the question here in the fundamentals is the farm cycle over? is major spending done? that's a question. >> express bakes has taken the express train lower. >> down 22%. we talked about specialty retailer. no exception. main driver, they were saying it was promotional to get traffic to the stores. it's down 22%. i'd be buying. i think it's overplayed. >> doc, cf industries? >> if you believe they'll raise the dividend and a certain brokerage firm upgraded their outlook, took them to sector perform as well, if they raise the dividend and/or do a stock buy back, do about $2.50 a sharpy i like it but i'm not in love with it. >> there's a $10,000 reward in connection with the van winkle 20-year-old preserved bourbon was the target of a theft at the distillery in oc

my colleague david faber had an amazing interview with kyle bass this morning on "squawk on the street." he's buying gm aggressively. i was blown away by this. he said, listen, one of the chief reasons is a big jump in rates could ease the pension liability burden of the company. why didn't i think of this myself? that's because general motors can get a better return that could then lead to an $8 billion swing in profits over time given the company's $27 billion pension liability. i'm an idiot. i heard that. why didn't i talk about that? that's a great call. who else gets a boost like that? general electric, boeing, and dupont. given all these will be hammered tomorrow, according to our battle plan, that could be a silver lining worth considering. although, we have to recognize that most investors will initially think who cares. higher rates, lower sales, higher costs. they will not be thinking pension savings, but maybe they should. another idea, how about the payroll processors. morgan stanley rolled out the coverage of paychex. they started with a sell. but i want to buy paychex, be

. >> kyle bass love it.up their balance sheet and bankruptcy, they got rid of the government stock overhang, the constant selling pressure. there is a recovery in the trucking business. go to north dakota and see how many pickup trucks are being sold. they have got a lot in -- a lock in the pickup truck market. for the first time in history i can remember, 50 years, gm and ford are coming out with really nice cars. you actually want to own them. >> you can make some of the same statements about the airline industry. why don't you like airlines? >> i said soar. that was a typo. sour. >> airlines turned out to be a trade. >> thank you, david tepper. >> i love harry, "the great boom ahead." harry dent is a seer. one of the crowd asked me your favorite idea. i said we do long-short hedge funds. up long-short hedge fund is 21% even though everyone thinks hedge funds are having a tough year. up 21%. my best idea -- i do not pick stocks at that time, we were not in mutual funds. i said airlines. everybody said, tha

kyle bass will talk about his best on gm. we'll find out when the opening bell happens in eight minutes. ? oh boy... [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. fedex one rate. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it could save you in out-of-pocket medical costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals neede

hayman capital, run by our friend kyle bass, has taken a stake in gm, a hedge fund taking a stake instock up. the presentation or the thinking behind his thesis also posted publicly on a web site called harvest, on which a number of hedge funds are going to start to post their ideas or at least the thinking behind them. i did speak to bass, though. basically what he had to say about gm and the reason for taking the stake is they believe it's cheap, three times value to ebidta, minus pension costs, but the costs are a lot less than what they were than prior to emergence from bankruptcy. they are currently taking share back from the likes are ford and chrysler. also points out the government has been a significant part of the volume in the stock for some time. they are -- that will not just mean selling pressure on the stock is gone but it will also allow the company to reexamine an executive compensation plan and make it more competitive perhaps, share buybacks, dividend, all of those kind of things that have been handcuffed because of that governorship ownership of gm. reports of tha

and it got hit by kyle bass saying he got out of the financing. >> david's been right about a lot of people getting into this this evening not knowing retail. this is i think a reaction to the fact that on day one ceo says -- michael ullman says everything's fine and day two they do a surprise secondary. i hope ceos understand that when you say something really positive and then you issue stock, that doesn't sit well with the regulators. they don't like that. you say you don't need to issue stock and then you issue stock, no. they're going to grill you. remember, the s.e.c. is civil, i'm sure they'll come done. i think they're really trying to make an example of doesn't do that. don't say things are fine day one and day two raise stocks and say things aren't fine. >> other names, comps out of gap, a little better than expected, banana, navy and gap making up for it. >> jeffrey's been the big bull there and they decide this is really about as good as it's going to get. that concerns me when someone is a big bull goes buy to hold. don't want to see that. >> big lots misses by 8 cents.