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KYLE BASS: The 'Macro Tourists' Are Responsible For Last Night's Big Plunge In Japan

• Business Insider
 

Note: The term "macro tourist" refers to someone who is not a traditional macro expert stepping out of one's comfort zone to make big bets based on one's own (often flawed) notion of economics.

Today, Bass blames the macro tourists for the historic 7.3% plunge in the Nikkei 225 last night.

Here's what he had to say on CNBC just now:

When you look at Japan, it looks to me like their industry has been hollowed out over the last 15 years, analogous to the U.S. manufacturing business getting hollowed out in the late 70s and 80s.

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