Bass’s logic is compelling. The problem, of course, is always timing. We’ll get that inflation at some point… but it could still be several to many years off (see Japan, which he spends some time on – folks have been trying to make money shorting Japanese bonds for over a decade). Bass’s investors will give him a long rope because he’s made folks a crapload of dough with some well-timed calls. But most folks don’t have a decade – which is a possibility – to be proven right. I know I don’t.