Saturday, November 8, 2008
"About half of the investors in T. Boone Pickens energy-oriented equity hedge fund have asked to withdraw their money on the heels of losses of about 60% the year, according to people familiar with the matter. Mr. Pickens and his investment firm have lost $2 billion since peaking in late June, Mr. Pickens said Sunday on the CBS program '60 minutes.' ... He has lost an estimated $400 milllion or so in his funds this year", Gregory Zuckerman at the WSJ, 28 October 2008.
Now they want out? Oil looks cheap to me; dollars look dear.