Louis Bacon
From Wikipedia, the free encyclopedia
Louis Moore Bacon (born 1956) is an American hedge fund manager and commodities trader who uses a global macro strategy to invest in the markets. 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 net worth of around $1.7 billion, he is ranked by Forbes as the 707th richest person in the world.[2] He is the manager of a leading New York City-based hedge fund, Moore Capital Management.
He was born in Raleigh, North Carolina. Bacon started his education at Episcopal High School in Alexandria, Virginia and attended Middlebury College where he studied literature[2] and graduated Cum laude. He later received his MBA degree from Columbia University.[3]
Bacon started as a trader and broker of financial futures for Shearson Lehman Brothers in New York. In 1986 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, Toronto, 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.
Bacon was once married to Cynthia Pigott[3]but is now divorced. His new wife is Gabrielle Sacconaghi. Bacon's stepmother is the former Blanche Robertson, 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.[4]
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.[5]
[edit] References
- ^ Peltz, Lois (2001). The New Investment Superstars. pages Intro, 5-6, 8, 9, 146: Wiley. ISBN 0-471-40313-X.
- ^ a b "Louis Moore Bacon", Forbes 400, Forbes magazine, March 2006. Retrieved on 2006-08-10.
- ^ a b "Cynthia Pigott married to Louis Bacon", The New York Times, 1986-02-16. Retrieved on 2006-08-10.
- ^ "So rich you just want to slap them", Femail, Daily Mail, November 17 2006. Retrieved on 2006-26-11.
- ^ Conservationist buys state's biggest ranch
- Jaeger, Robert A. (2002). All About Hedge Funds. page 16, 17, 30, 31: McGraw-Hill. ISBN 0-07-139393-5.
- Biggs, Barton Biggs (2006). Hedgehogging. pages 85, 130, 173, 195: Wiley. ISBN 0-471-77191-0.
- Ineichen, Alexander M. (2002). Absolute Returns. pages 60-63, 167, 334: Wiley. ISBN 0-471-25120-8.
- Acar, Emmanual; Satchell, Stephen (2002). Advanced Trading Rules. page 380: Butterworth-Heinemann. ISBN 0-7506-5516-X.
- Lo, Andrew W.; Weigend, Andreas S. (2000). Computational Finance 1999. page 364: The MIT Press. ISBN 0-262-51107-X.
- Mauldin, John (2005). Bull's Eye Investing. page 307: John Wiley & Sons. ISBN 0-471-71692-8.
- Malik, Om (2004). Broadbandits. page 176: Wiley. ISBN 0-471-66061-2.
- Burstein, Gabriel (1999). Macro Trading and Investment Strategies. page v: Wiley. ISBN 0-471-31586-9.
