Kyle Bass big on Argentina; rips 'immoral' competitors

Kyle Bass, founder of Hayman Capital.
Timothy Fadek | Bloomberg | Getty Images

Kyle Bass, founder of the $1.7 billion hedge fund Hayman Capital, revealed Wednesday morning having recently taken a large stake in YPF, the Argentine oil company, as the best play on a new decade of economic growth in the South American country.

He also bashed rival hedge funds such as Elliott Management, who have invested in Argentine bonds and held out for full payment on their investments, calling their behavior immoral.

In an exclusive interview with CNBC, Bass, whose Dallas-based fund is known both for large stock market investments and other idiosyncratic bets, argued that Japan and Argentina were the best places to put money right now.