Oil billionaire T. Boone Pickens took a bath by betting with Carl Icahn in the battle to take over Yahoo. Pickens says he sold his 10 million shares of Yahoo. Pickens, who says he was simply following Icahn and admits he doesn't know how to send an email, bought his shares in early may, likely paying between $25 and $27. Yahoo is now trading five dollars lower, in the $20 to $22 range. That puts Pickens' loss at around $50 million.
Pickens rips Yahoo management, says he dumped shares at a loss [San Francisco Chronicle]
Posted by guest , Jul 29, 2008 3:51PM
This couldn't happen to a nicer guy. Hopefully he losses a lot more in the coming years.
Posted by guest , Jul 29, 2008 4:07PM
Are you sure the headline was not "Pickens took a $50 million dump"?
Posted by guest , Jul 29, 2008 4:08PM
waaahhhhhhhhhhh
Posted by guest , Jul 29, 2008 4:08PM
Are you sure the headline was not "Pickens took a $50 million dump"?
Posted by guest , Jul 29, 2008 4:09PM
too long, didn't read
Posted by guest , Jul 29, 2008 4:19PM
I don't think his energy trading has been real good of late either.
Posted by blndebnker , Jul 29, 2008 4:24PM
Does he even feel a $50MM loss?
Posted by guest , Jul 29, 2008 4:35PM
He'll shit a purple twinkie if the stock climbs past $30.
Posted by guest , Jul 29, 2008 4:35PM
He'll shit a purple twinkie if the stock climbs past $30.
Posted by guest , Jul 29, 2008 4:36PM
He'll s**t a purple twinkie if the stock climbs past $30.
Posted by guest , Jul 29, 2008 4:39PM
He'll dump a purple twinkie if the stock climbs past $30.
Posted by guest , Jul 29, 2008 4:42PM
what will happen if the stock goes past $30?
Posted by guest , Jul 29, 2008 6:48PM
"Pickens ... who admits he doesn't know how to send an e-mail..."
Hell, at least he's qualified to run for President...
Posted by trojan , Jul 29, 2008 9:35PM
There Will Be Old People
Posted by guest , Jul 30, 2008 12:29AM
So Pickens lost some money on Yahoo. It's his to lose.
Pickens' energy plan has some merits, and at least he has a plan. Of course, his natural gas and wind power businesses would profit mightily. Far more than $50 million.
Pickens is also buying up the water rights under the ground in the Ogallala Reservoir in West Texas (a huge underground water supply). Texas is in a drought and its population is growing. It won't take him too long to profit from that investment, which will enrage the environmentalists who are currently lionizing him.
Strange mix of big picture thinking, need for public acclaim, and plain old love of money.