T. Boone Pickens is turning 90 in a few months, and for the first time in his life, the old wildcatter is feeling his age. He may still bring it in the sack, but gone are the days when he’d challenge presidents half his age to a physical fitness contest—and as a result, so are his hedge-fund managin’ days: Pickens in January announced that his BP Capital would become a family office, citing a series of strokes he suffered late last year. “I’m ecstatic that I’ve hung on long enough to see it all unfold,” he said of the booming U.S. domestic energy market he’s loved all his life.
Yes, T. Boone Pickens is preparing to die. But his acolytes have made sure that he shall live on. Unlike his fellow late-80-something Warren Buffett, Pickens will not persist as a robot in Cliff Asness’ basement. No, Pickens and his philosophy—if it turns on the lights, buy it—shall reside at the New York Stock Exchange, in ETF form.
The Pickens Oil Response ETF is scheduled to begin trading Wednesday. Its ticker symbol will be BOON and it is tailored as a wager on U.S. energy abundance.
BOON will track the NYSE Pickens Oil Response Index, which was developed last year by some of Mr. Pickens’ lieutenants at his Dallas investment firm BP Capital. Officials with New York Stock Exchange owner Intercontinental Exchange say that it is the first time NYSE has branded a stock index with an individual.