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Hayman's Bass Sees Energy as Investment Opportunity as Glut Ends

  • Hedge fund manager is interviewed on `Wall Street Week'
  • He sees oil oversupply becoming a deficit as output is cut

Kyle Bass, the hedge fund manager who made half a billion dollars betting against subprime-mortgage securities in 2007, says the time is ripe to invest in energy companies as the global oil surplus reverses.

"We’re going to go from a glut to all of a sudden a deficit, and the world’s not ready for a deficit," Bass, the founder of Hayman Capital Management, said in an interview with "Wall Street Week," an excerpt of which was posted on the Internet. "If you’re going to allocate capital for the next three to five years you should do it now" or within the next six months.