---
title: "Is The Progressive Corporation (PGR) Among Billionaire Louis Bacon’s Long-Term Stock Picks?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/225589733.md"
description: "Billionaire Louis Bacon's investment strategy is highlighted in a recent article, focusing on The Progressive Corporation (NYSE:PGR) as one of his long-term stock picks. PGR reported a revenue of $19.7 billion and a net income of $2.35 billion for Q3 2024, showing significant growth. Despite its potential, the article suggests that other stocks may offer higher returns in a shorter timeframe. Bacon's hedge fund, Moore Capital Management, has a strong track record, managing over $5.4 billion with a focus on macroeconomic trends."
datetime: "2025-01-20T20:51:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/225589733.md)
  - [en](https://longbridge.com/en/news/225589733.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/225589733.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/225589733.md) | [繁體中文](https://longbridge.com/zh-HK/news/225589733.md)


# Is The Progressive Corporation (PGR) Among Billionaire Louis Bacon’s Long-Term Stock Picks?

We recently published a list of **Billionaire Louis Bacon’s Top 10 Long-Term Stock Picks.** In this article, we are going to take a look at where The Progressive Corporation (NYSE:PGR) stands against other Billionaire Louis Bacon’s long-term stock picks.

Louis Bacon is one of the most prominent and successful hedge fund managers of his generation, known for his astute macroeconomic insights and ability to navigate volatile markets. As the founder of , Bacon built a reputation for delivering exceptional returns while maintaining a disciplined approach to risk management. Louis Moore Bacon was born in 1956 into a family with roots in business and the outdoors. His father, Louis Turner Bacon, was a businessman and chairman of the Reynolds Securities brokerage firm. These early influences shaped Bacon’s interest in finance and conservation. Bacon attended Middlebury College, where he earned a degree in American Literature, and later pursued an MBA at Columbia Business School, graduating in 1981. His education laid the groundwork for his successful career in trading and investment management.

Read more about these developments by accessing and

Bacon started his financial career on the trading desk of Bankers Trust. Later, he joined Shearson Lehman Brothers, where he developed expertise in trading currencies, commodities, and futures. His early experiences as a trader honed his ability to identify macroeconomic trends, a skill that would define his investment strategy. In 1987, Bacon used a $25,000 inheritance to establish his own trading account. His success during the stock market crash of October 1987, when he profited by shorting the market, demonstrated his ability to capitalize on turbulent conditions. In 1989, Louis Bacon founded Moore Capital Management with $25,000 of his own money and $1.6 million in seed capital. The hedge fund focused on global macroeconomic investing, a strategy that involves analyzing and trading based on macroeconomic trends such as interest rates, currencies, and commodities.

Bacon’s success was rapid and significant. In its first year, Moore Capital posted a return of 86%, showcasing Bacon’s skill in navigating volatile markets. Over the decades, Moore Capital became one of the most successful hedge funds in the industry, managing more than $14 billion at its peak. Over three decades, Moore Capital delivered annualized returns of approximately 17%, outperforming most hedge funds. Bacon’s ability to generate profits during financial downturns, such as the 2008 global financial crisis, solidified his reputation as a skilled macro trader. At the end of the third quarter of 2024, the 13F portfolio of the fund was worth more than $5.4 billion with the top holdings in the technology and financial sectors.

Read more about these developments by accessing and

For this article, we selected stocks by combing through the 13F portfolio of Moore Global Investments at the end of the third quarter of 2024. Only the companies that have been in the 13F portfolio of the fund consistently for the past three years were selected. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (**see more details here**).

A team of accountants in a boardroom, discussing strategic moves of an insurance company.

The Progressive Corporation (NYSE:PGR) is a company that provides personal and commercial automobile insurance and other specialty property-casualty insurance products and related services. There are several key elements that position this company as an exceptional choice for investors. Firstly, as per the reports of the third quarter of 2024, the reported revenue was $19.7 billion, up 27% from the third quarter of 2023, and net income was $2.35 billion, up 112% from the third quarter of 2023. Secondly, The Progressive Corporation’s (NYSE:PGR) continued growth in insurance led to more than 10,000 open roles in 2024.

Overall, PGR on our list of Billionaire Louis Bacon’s long-term stock picks. While we acknowledge the potential of PGR as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a stock that is more promising than PGR but that trades at less than 5 times its earnings, check out our report about the .

Disclosure: None. This article is originally published at

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### Related Stocks

- [The Progressive Corporation (PGR.US)](https://longbridge.com/en/quote/PGR.US.md)
- [Strong (001279.CN)](https://longbridge.com/en/quote/001279.CN.md)

## Related News & Research

- [Sky Investment Group LLC Raises Stake in The Progressive Corporation $PGR](https://longbridge.com/en/news/280906681.md)
- [The Progressive Corporation Announces Quarterly Dividend of $0.10 (NYSE:PGR)](https://longbridge.com/en/news/281176639.md)
- [Progressive Had a Remarkable Run. Now Comes the Hard Part.](https://longbridge.com/en/news/280884071.md)
- [Progressive's Outlook Debated as Pricing Pressures, EPS Risks Loom, Morgan Stanley Says](https://longbridge.com/en/news/281210102.md)
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