Wind windbag Pickens has seen better times. Caught on the wrong side of energy investments and leverage, his 30% and 84% losses in two funds have cast over $250 million of his personal stash to the winds and left investors another $750 million shy. To hear him tell it, the sudden dislocations in the energy market over the last three months caught him unawares. But don't worry, its all temporary. (Sort of like the sudden spike in energy markets the three months before that? One man's unfortunate dislocation is another man's genius thesis).
Pickens insists that "Oil likely will finish the year around $120 or $125 a barrel." If he really thinks so, wonder why he reduced his exposure to energy so dramatically when it toyed with $90. Between this and that whole Yahoo thing, we wonder if our favorite oilman should spend less time standing on a soapbox and more time with his analysts.
Posted by Debter , Sep 24, 2008 9:22AM
such vitriol!
Posted by guest , Sep 24, 2008 9:27AM
too pointless, didn't read
Posted by FUNdamental , Sep 24, 2008 9:47AM
you guys should start an all-suck list of people that open their mouths but suck at this. Boone, cramer whomever. Keep some stats, let us give them some nicknames good times.
Posted by guest , Sep 24, 2008 9:59AM
And I've heard T. Boone has a strong connection with an expensive private energy research firm.
Posted by guest , Sep 24, 2008 10:00AM
I hate that old fart. Keep guzzling the black gold baby.
Sincerely,
King Abdullah bin Abdul Aziz Al Saud
(P.S. Bess, marry me and move to Riyadh. You'll be my 5th wife, but still my favorite)
Posted by guest , Sep 24, 2008 10:09AM
"Between this and that whole Yahoo thing, we wonder if our favorite oilman should spend less time standing on a soapbox and more time with his analysts."
That pretty much sums it up.
@3 - Good idea. Boone and Cramer can be the founding members on the list.
Posted by FUNdamental , Sep 24, 2008 10:12AM
@6 - maybe run it for q4 and name a mount suckmore for Christmas( Hanukkah ) time.
Posted by guest , Sep 24, 2008 12:18PM
gotta love the guy,,,,biggest oil man ever,,now he hates oil,,,go figure