News

David Tepper, Louis Bacon Break Themselves Off A Piece Of Citi

Give it up for Vikram!

Moore Capital, the $15 billion hedge fund run by Louis Moore Bacon, bought 40.9 million Citigroup shares in the period ended Dec. 31, according to a filing yesterday with the U.S. Securities and Exchange Commission. The stake was worth about $194 million at year-end. Appaloosa, the hedge fund founded by David Tepper, more than doubled its holdings in the bank run by Chief Executive Officer Vikram Pandit.

“Banks have been a pretty profitable trading area for a lot of the hedge funds and they are doing it again with Citi,” said Michael Holland, who oversees more than $4 billion as chairman of New York-based Holland & Co. “Right now it looks like Pandit has been able to calm the seas and we may have a period where things are lined up for smooth sailing. Unless things change dramatically, it’s probably a chance for them to make some more money.”

Citi Shares Bought By Hedge Funds Moore Capital, Appaloosa [Bloomberg]

Related: Citi Makes Paulson More Than $1 Billion

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127 Responses to “David Tepper, Louis Bacon Break Themselves Off A Piece Of Citi”

  1. Anonymous says:

    I laughed when Citi hired Pandit but he has done a pretty good job to date

  2. Seaman Bodine says:

    Louis helping Zach feel like he’s back at his old fund.

  3. Seaman Bodine says:

    Louis helping Zach feel like he’s back at his old fund.

  4. Citibum says:

    Told you bitches that the ATMs with the little guy inside helping you would put us on the map!

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  5. V "Bid Daddy" P says:

    Fab, is that you? What are you doing in my ATM? You work for us now?

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  6. V "Bid Daddy" P says:

    Fab, is that you? What are you doing in my ATM? You work for us now?

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  7. V "Bid Daddy" P says:

    Fab, is that you? What are you doing in my ATM? You work for us now?

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  8. Guest says:

    Re: The Show
    Citi share price on December 14, 2007 after Vikram Pandit was appointed CEO – 30.70.
    After $45 Billion in US bailout money, Citi’s share price is 4.91. Pandit sucks.

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