Louis Bacon
Louis Moore Bacon | |
|---|---|
| Born | 1956 |
| Alma mater | Middlebury College Columbia Business School |
| Occupation | Hedge funds |
| Years active | Since 1989 |
| Employer | Moore Capital Management |
Louis Moore Bacon (born 1956) is an American hedge fund manager and trader who founded and manages Moore Capital Management, a leading New York City-based hedge fund. Bacon has been at the top 20 ranking of Top 100 money earners since the 1990s.[1] He is considered one of the top 100 traders of the 20th century. With an estimated current[update] net worth of around $1.7 billion, he is ranked by Forbes as the 707th richest person in the world.[2] Bacon is known for his use of a global macro strategy to invest in the markets.
Background
Bacon was born in Raleigh, North Carolina. Bacon graduated from Episcopal High School in Alexandria, Virginia. He later attended Middlebury College where he studied literature[2] and graduated Cum laude. He subsequently received his MBA degree from Columbia Business School.[3]
Career
Bacon started as a trader and broker of financial futures for Shearson Lehman Brothers [4] in New York. In 1989 he founded Moore Capital Management, a leading hedge fund with $15 billion in assets under management. Moore Capital is headquartered in New York City but has other offices in London and Washington D.C.
Bacon is a discretionary trader. He trades a Global Macro Strategy and is one of the few successful discretionary stars along with Paul Tudor Jones.[citation needed]
Personal life
Bacon was once married to Cynthia Pigott[3], a former staffer at Newsweek magazine, but they later divorced. His second wife is Gabrielle Sacconaghi. Bacon's stepmother is Blanche Robertson Bacon, sister of Julian Robertson, founder of Tiger Management and one of the pioneers of the hedge fund industry.
Bacon owns many homes around the world. They include residences in The Boltons, Colorado and the Bahamas, a luxurious townhouse in Upper East Side a Long Island estate (which includes a hunting lodge on nearby Robins Island, all of which is owned by Bacon), a grouse moorland in Scotland and three private polo grounds.[5]
Bacon is an avid supporter of non-profit environmental protection organizations, including The Riverkeeper (which protects the ecological integrity of the Hudson River) and Group for the East End (which protects and restores the environment of eastern Long Island).
In November 2007, Bacon purchased the largest privately owned ranch in Colorado, the Trinchera Ranch in Costilla County from the Forbes family. The 171,400-acre (694 km2) property sold for $175 million, and is believed to be the highest ever for a piece of U.S. real estate, surpassing the previous record of $165 million paid for a Beverly Hills mansion once owned by William Randolph Hearst.[6]
In May of 2010, He purchased the Orton Plantation. The plantation had been owned by James Laurence Sprunt and his descendants for the last 126 years. Louis Moore Bacon is a descendant of the original owner, Roger Moore. http://www.publicbroadcasting.net/whqr/news.newsmain/article/1/0/1646486/Local.Interest/Orton.Plantation.Sold.to.Billionaire</ref>
References
- ^ Peltz, Lois (2001). The New Investment Superstars. pages Intro, 5-6, 8, 9, 146: Wiley. ISBN 0-471-40313-X.
{{cite book}}: CS1 maint: location (link) - ^ a b "Louis Moore Bacon". Forbes 400. Forbes magazine. March 2006. Retrieved 2006-08-10.
- ^ a b "Cynthia Pigott married to Louis Bacon". The New York Times. 1986-02-16. Retrieved 2006-08-10.
- ^ CYNTHIA PIGOTT MARRIED TO LOUIS BACON
- ^ "So rich you just want to slap them". Femail. Daily Mail. November 17, 2006. Retrieved 2006-11-26.
- ^ Conservationist buys state's biggest ranch
- Jaeger, Robert A. (2002). All About Hedge Funds. McGraw-Hill. p. 16, 17, 30, 31. ISBN 0-07-139393-5.
- Biggs, Barton Biggs (2006). Hedgehogging. Wiley. p. 85, 130, 173, 195. ISBN 0-471-77191-0.
- Ineichen, Alexander M. (2002). Absolute Returns. Wiley. pp. 60–63, 167, 334. ISBN 0-471-25120-8.
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- Acar, Emmanual (2002). Advanced Trading Rules. Butterworth-Heinemann. p. 380. ISBN 0-7506-5516-X.
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- Lo, Andrew W. (2000). Computational Finance 1999. The MIT Press. p. 364. ISBN 0-262-51107-X.
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- Mauldin, John (2005). Bull's Eye Investing. John Wiley & Sons. p. 307. ISBN 0-471-71692-8.
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- Malik, Om (2004). Broadbandits. Wiley. p. 176. ISBN 0-471-66061-2.
- Burstein, Gabriel (1999). Macro Trading and Investment Strategies. page v: Wiley. ISBN 0-471-31586-9.
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