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

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

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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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Great News: Hunting Guest Of Louis Bacon Not Permanently Blinded By Bullets To The Face

His throat and arms, also hit, are okay, too. The chairman of auction house Sotheby’s has been shot in the face during a grouse shoot. Henry Wyndham would have been blinded had he not been wearing glasses when the accident occurred last Monday, the first day of the grouse shooting season. The Old Etonian was standing at his post – referred to in the shooting world as a grouse ‘butt’ – when a neighbouring gun was accidentally fired towards him, spraying shot in his arm, throat and face. Mr Wyndham was airlifted to hospital from the Scottish moor where the incident took place. He was treated for 52 lead pellet wounds. The accident took place on a hired estate on a shoot organised by American hedge-fund manager Louis Bacon, 56. Sotheby’s Chairman Henry Wyndham Shot On Grouse Moor [Bloomberg] Sotheby's chief airlifted from grouse shoot after being blasted by 52 pellets [DailyMail]