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T. Boone Pickens' bad stock pickings

Posted Jul 29 2008, 01:12 PM by Kim Peterson
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Billionaire investor T. Boone Pickens bought 10 million shares of Yahoo in May, hoping the company would be acquired. Oops. He sold his stake at a loss, and, well, he's pretty pissed about it all.

"I think that Yahoo management was pathetic," he told the editorial board at the San Francisco Chronicle. He wouldn't say how much money he lost, though. Yesterday brought news that Gordon Crawford, the second-largest Yahoo shareholder, is furious with the company.

Yahoo shares, by the way, are at $20.13. We don't know exactly when Pickens bought his shares, but throughout the month of May Yahoo stock was mainly in the $25-28 range.

Related reading:

A former Yahoo exec looks back

Yahoo's quarter not the disaster everyone expected

BUD board does the right thing, Yahoo's doesn't

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Comments

 

OH YOU POOR POOR MAN WHAT ARE YOU GOING TO DO WHO CARES

RICK (Posted 07.29.08 1:47 PM) Report Abuse

Ah, Boone.....you can have my food stamps......

Joe2007 (Posted 07.29.08 1:57 PM) Report Abuse

RICK, it obvious you do by commenting on the story. Seem like your the glory-hound posting comments about a news report.

YOURANIDIOT (Posted 07.29.08 1:59 PM) Report Abuse

If offensive language will be deleted, why did you allow Kim Peterson  to use the term "pissed "?   I demand a apology

Jerry Kurowski (Posted 07.29.08 3:00 PM) Report Abuse

Maybe Boone's new energy plan (you know the one he's been promising to disclose in the near future) is to take all his yahoo stocks, light them on fire, and in conjuction with his hot air, generate a year's worth of electric for Texas.

Mike (Posted 07.29.08 3:20 PM) Report Abuse

And this guy is spouting off about how to save the U.S. from the oil crisis caused by the lack of exploitation of our own assets! Boy, is he doing Pelosi or is Read doing him? They all deserve each other, in the meantime I am down $500,000.00!The experts say Oil can be produced in 2 years  NOT 10 and Pickens is saying we can't drill our way out!  BS! I think he's lost it!

Keith Milliner (Posted 07.29.08 3:56 PM) Report Abuse

I'll bet he didnt lose 1% of his worth.

How about a financial story that actually affects real people...

Poor Okie (Posted 07.29.08 4:04 PM) Report Abuse

Do not forget investors are the oil that runs this machine. I feel his pain... Im still dizzy from amazon.

Carol (Posted 07.29.08 4:17 PM) Report Abuse

All comments are obviously from well respected members of the business communities and great investors themselves!

RobDunn (Posted 07.29.08 4:25 PM) Report Abuse

I agree Carol. Ignorant people do not understand how the economy works, and have no notion of the repercussions of such business men losing and making money on the current market.

Rob (Posted 07.29.08 4:38 PM) Report Abuse

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