Blair and Chuck engage in one of their favorite activities together: scheming. They figure out the one clue they have about Bart's secret past (the name Lady Alexander): that she's a horse that Bart bought years ago for a pretty penny. In fact, he bought a dozen from a Sheik, so they head to a horse show with Lily (conveniently, the same horse show as their friends) to see if they can find out anything. The Sheik's daughter tells Chuck that Lady Alexander never raced, and Bart appears, showing off his close relationship with her. Blair convinces the Sheik's daughter to talk to Chuck, and she reveals that Bart broke federal laws to buy oil from the Sheik. He faked his death to avoid prison, so at least we have that mystery down — now the next step is for Chuck and Blair to prove it, and get back to having a stormy but limo-sex-filled relationship.