Pickens Hedge Fund Soars On Oil

Aug 23 2012 | 10:18am ET

T. Boone Pickens, who made his billions on oil, is adding to them on the back of the commodity this year.

Pickens' BP Capital is up double-digits this year, he told Reuters, thanks to its bets on black gold. "We've done well in the oil markets," Pickens said, and he plans to continue to do so.

"Right now, I would not short oil," he said, noting the hostile political rhetoric emanating from the Middle East. Pickens also said that he thought natural-gas prices should rise by almost half this year, despite his decision to dump BP's entire stake in Chesapeake Energy in the second quarter. The hedge fund retains a small gas position, Pickens said.

The 84-year-old told Reuters that he has no intention of retiring or returning outside capital. And he continued to push for a reduction in U.S. oil use, arguing that "properly-managed energy can bring back the economy."


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of