T. Boone Pickens: 3 Recent Sell-Offs and 4 Big Buys
Osman Gulseven submits:T. Boone Pickens is the chairman of BP Capital. He is ranked #879 in the Forbes Billionaires list, and #290 in the Forbes 400. His estimated current worth is $1.4 billion.
He has spent about $70 million so far in order to achieve his “Picken’s Plan” ---an energy plan which counts on wind and natural gas in order to lower United States’ addiction to oil. While this plan sounds too ambitious, he already made significant investments in alternative energy. In fact, his portfolio is almost pure energy [94.72%] based. His recent transactions show that he is getting more defensive in the oil stocks, selling the high-fliers, and buying the safer stocks with lower P/E ratios. Here, is a brief analysis of his latest three big sell-offs and four big buys (data from finviz, and current as of June 8 close):
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