Thursday, September 25, 2008

oil tycoon T. Boone Pickens updates

Many traders have been wondering about oil tycoon T. Boone Pickens. For the past six month's he's been making crude calls that have been some of the worst calls made this year. A trader sent me this:

Reuters
Pickens funds down about $1 billion this year: report
Wednesday September 24, 7:14 am ET

(Reuters) - Texas oil magnate T. Boone Pickens' hedge funds have lost around $1 billion this year, including $270 million of personal losses, The Wall Street Journal said.

One fund focused on energy stocks was down almost 30 percent through August, the paper said adding that a smaller commodity-focused fund is down 84 percent.

"It's my toughest run in 10 years," the paper quoted Pickens as saying.


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