Daily Finance review Louis Bacon’s top buys

An article written for and published on the Daily Finance website has analysed the Louis Bacon’s Moore Capital Management’s purchases and sales according to their ‘13F’ filings.

The piece emphasizes Moore Capital Management’s reputation for investing in global macroeconomic policies, making Louis Bacon one of the top twenty earners since the 90s.

While Moore Capital has enjoyed some astonishing returns from the market and as reported, Louis Bacon’s hedge fund manages to average annual gains of 19% since it began in 1989.

The company's reportable stock portfolio totalled $6.2 billion in value as of April this year and the article takes a deeper look at recent developments for the firm.

The article states that ‘The biggest new holdings are call options on the iShares Russell 2000 ETF and shares of the SPDR S&P Retail ETF. Other new holdings of interest include Nokia , which has struggled in recent years and sits in penny-stock territory. It has been regaining its footing, providing less developed economies with less expensive mobile phones and also partnering on Windows phones.

‘It's also coming out with new offerings. Sales in China have been shrinking recently, however, and some worry about developing nations embracing more pricey smartphones. The stock jumped this week on rumors that a Chinese firm may buy the company. It's worth noting that despite recently sporting net losses and negative free cash flow, Nokia does have plenty of cash, even outstripping debt.’

Moore Capital recent increased its stake in Sequenom, a company which creates molecular and genetic diagnostic tests. Interestingly the company produces non-evasive Down syndrome tests and future research may involve macular degeneration.

One of Moore Capital’s most impressive investments is in Synoyus which has posted a 50% increase on stock over the last 12 months.

The article notes that the fund’s biggest closed positions include the SPDR S&P 500 ETF and the PowerShares QQQ Trust ETF and Exact Sciences. Exact Sciences conducts research into a new colon cancer test. The company recently announced plans to issue more than $60 million worth of new shares to raise funds for further product testing and development. Some think it might end up bought out.