Macro Trading’s Big Year Has a Familiar Winner in Louis Bacon

Louis Bacon’s main fund at Moore Capital Management gained 23% last year.

The macro trading legend returned most of his clients’ cash in 2019 and signaled he would take a step back from his investment firm. Last year, though, he was the single largest contributor to the firm-wide earnings, according to a person familiar with the matter, who asked not to be identified because the information is private.