Louis Bacon

Louis Bacon studied arts and history at Middlebury College and Columbia University before entering the trading industry. He worked as a commodity broker and at Shearson Lehman American Express before founding Moore Capital Management in 1989. Moore Capital became one of the most consistently profitable global macro hedge funds in history, generating strong returns across multiple decades through directional macro trading in currencies, commodities, interest rates, and equity indices. Bacon is known for his prescient macro calls: he is widely credited with correctly anticipating the crude oil price spike that followed Iraq's military seizure of Kuwait in 1990, positioning Moore Capital for substantial gains. His trading style combines top-down macroeconomic analysis with rigorous risk management and opportunistic position sizing. Unlike some global macro managers who systematically pursue a specific framework, Bacon is known for his flexibility and adaptability — identifying opportunities across a wide range of markets and timeframes. Moore Capital grew to manage approximately $15 billion at peak. Bacon partially returned outside capital in 2019, announcing he was scaling back the fund as he found it increasingly difficult to generate alpha in an environment of suppressed volatility and extraordinary central bank intervention. He has also been a significant environmental conservationist, donating substantial resources to protecting natural lands.