Career
After receiving his MBA, Bacon joined the sales and trading program at Bankers Trust. Later he left the firm and returned to Walter N. Frank & Co. where he traded currencies. Bacon then got a job on the floor of the New York Cotton Exchange, working as a "runner". Bacon later worked as a broker and trader of financial futures at Shearson Lehman Brothers and eventually became the senior vice president for their futures trading division.
In 1987 Bacon founded Remington Trading Partners and his insights into the market crash of that era allowed him to profit as the market declined as well as during its rebound some time later. In 1989, Bacon used his middle name in founding Moore Capital Management LLC and in 1990 created Moore Global Investments using the $25,000 he inherited from his family.
In 2006, Forbes names Bacon as the 746th richest person in the world. and in 2011 he was listed as the 736th richest man. In 2010, the Denver Post reported that his $1.6 billion ranked him as the 238th richest American.
Read more about this topic: Louis Bacon
Famous quotes containing the word career:
“Each of the professions means a prejudice. The necessity for a career forces every one to take sides. We live in the age of the overworked, and the under-educated; the age in which people are so industrious that they become absolutely stupid.”
—Oscar Wilde (1854–1900)
“He was at a starting point which makes many a man’s career a fine subject for betting, if there were any gentlemen given to that amusement who could appreciate the complicated probabilities of an arduous purpose, with all the possible thwartings and furtherings of circumstance, all the niceties of inward balance, by which a man swings and makes his point or else is carried headlong.”
—George Eliot [Mary Ann (or Marian)
“A black boxer’s career is the perfect metaphor for the career of a black male. Every day is like being in the gym, sparring with impersonal opponents as one faces the rudeness and hostility that a black male must confront in the United States, where he is the object of both fear and fascination.”
—Ishmael Reed (b. 1938)