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Pickens Lost $50 million on Yahoo

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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]