Hayman Capital's Kyle Bass bought a 4.9% stake in MGIC (MTG +17.6%), according to an SEC filing,...

|About: MGIC Investment Corporation (MTG)|By:, SA News Editor

Hayman Capital's Kyle Bass bought a 4.9% stake in MGIC (MTG +17.6%), according to an SEC filing, reflecting his belief that the housing market’s losses have largely been absorbed. “You can see that the pig has moved through the python in terms of U.S. housing losses." Shares could rise even if MGIC is forced by regulators to stop writing new policies, he says: "We’re in it for the long haul."