A New York Times (Online) Article highlights Bacons, financial woes at the moment, that came by way of the current economic crisis facing Europe. An area where its said Bacon made a Bundle.
“The political involvement is so extreme — we have not seen this since the postwar era. What they are doing is trying to thwart natural market outcomes,” Mr. Bacon said in an interview with the New York Times. “It is amazing how important the decision-making of one person, Angela Merkel, has become to world markets,” he added, referring to the German chancellor.
Interesting comments coming from a man who allegedly funded the former FNM administration who allegedly extended certain courtesies to Bacon which allowed him to move and act larger than life, while in power. Its alleged that this connection was instrumental when questions were raised about the illegal dredging of his Lyford Cay property.
And lets not forget a number of alleged criminal matters that are either presently before the courts or being investigated by police.
With this return of assets, Mr. Bacon will now personally manage $5 billion to $6 billion. Outside investors will retain a majority share of the fund, although he and other employees at Moore will have the largest single account.
He says he believes this amount will give him a greater flexibility to move in and out of the markets. Hedge fund experts say that there are few pure macro investors left — those who invest in stocks, bonds and currencies all over the world — who personally manage a portfolio greater than $6 billion for clients.
“I have under performed market opportunities, so yes, I have questioned myself a little bit,” Bacon is quoted in an interview with by New York Time he said. “But I do think I can ultimately adapt to a changing market environment. ”
But Bahamas National is monitoring Bacon’s movements as we understand that he along with the help of a former FNM MP is in the process of setting up shop in the Turks & Caicos Islands.