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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: t2 who wrote (73172)10/12/2006 12:00:20 PM
From: diana g  Read Replies (3) of 206287
 
T Boone Pickens has made a big pile of money, and he made it by knowing the oil/NG business and putting his money down on what he believed would make profits. He didn't make that money by selling advice. He said earlier in the year that NG was coming down and he played it that way. He was right and made money. He is usually right; that's why he has the big pile of money. He says now that he thinks oil is headed higher. He answers directly questions about why he thinks that, and he makes good sense. He could be wrong, like anyone else, but he straightforwardly says what he thinks and backs it up with the reasons why.
(He also believes we need to get serious about alternative energy sources, and invests in them. And he is a major philanthropist.)

Did you yourself see the interview with Pickens? If Pickens strikes you as a 'desperate leveraged long' who is in fear that it'll be 'trouble for him if the market smells blood' then I have to think you are a darned poor judge of character. Perhaps you've been hanging around the WS advice-peddlers too much, and don't recognize an honest man when you see one?

regards,
diana

Message #73172 from humbleone at 10/12/2006 8:20:26 AM

Back to T Boone Pickens. CNBC guest this morning made some comments about Pickens interview yesterday. He said is was telling. Pickens never thinks oil is too high.

Pickens did not want BP to rush to get the pipeline going; and also thought people would like high prices so investment portfolios would look good.

I read his fund is up 80% this year (forgot where); that means big time leverage being used. That could mean trouble for him like it did in natural gas (as i stated yesterday).

Desperation, desperation, desperation. Leveraged longs look to be in big trouble, imho.
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