Moore Capital Management is the hedge fund of billionaire Louis Bacon. This hedge fund gained huge profits in the 1st trading year after the hedge fund manager planned to step back from managing money of investors in 2019 along with consolidating its 3 hedge funds to a single one. Moore Capital has gained above 70% in one of the highly unpredictable and unreliable years.
Louis Bacon is regarded as one of the highly popular and successful hedge fund managers of that time period. He started Moore Capital in the year 1989 with a capital of $25,000 that he got from his mother He returned annualized return of around 17.6% from its start till 2019. Insider Monkey has shared his statement from his last year’s investment letter as given here:
“Dear Investor, As Moore Capital Management (MCM) approaches its 30th year at the end of this decade, the time is propitious to take a step I have eyed for some time and “privatize” our three multi-manager flagship funds– that is to say returning client assets and funding the multi-manager program with private capital from the principals at MCM. These three funds –MGI (Moore Global Investments), RIS (Remington Investment Strategies), and MMM (Moore Macro Advisors)–will (post the return of investor funds) be consolidated into one proprietary fund which will continue to trade and invest with the same line-up of Portfolio Managers, but with less participation from me.”
Let us begin with the Top 10 Stock Picks From Portfolio of Louis Bacon on the basis of stocks determined by Insider Monkey. The first stock pick on the list is The Walt Disney Company. Moore Capital began investing in the stake in the Q3 quarter. The position in entertainment and movies giant assisted this hedge fund to earn huge gains in the year 2020 as Disney’s shares rallied by 37% during the past 3 months. The overall worth of the Disney stock in the portfolio of Louis Bacon is around 1.27%.
Facebook, Inc. is the 2nd stock present in the stock portfolio of Louis Bacon. In the previous quarter, around 22% of the stakes of Facebook have been sold by this hedge fund. Besides this, 1.33% of the Facebook stocks are present in the stock portfolio of Moore Capital. In the FY2020, the Facebook shares have soared by 30% due to stay at home orders. Want to read more? Just head to Billionaire Louis Bacon’s Top 10 Stock Picks.