{"id":8747,"date":"2008-10-01T00:00:00","date_gmt":"2008-10-01T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"pickens-hedge-fund-has-lost-more-than-1-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/pickens-hedge-fund-has-lost-more-than-1-billion.html","title":{"rendered":"Pickens hedge fund has lost more than $1 billion"},"content":{"rendered":"<p>Houston Chronicle &#8211; Boone Pickens, the billionaire founder of BP Capital LLC, said 15 percent of his hedge funds&#8217; holders have asked for the option to withdraw their money after he lost more than $1 billion in energy trades this year.<\/p>\n<p>Pickens, who manages funds linked to energy commodities and equities, said his equity fund has taken a &quot;real hit&quot; as oil company stocks and oil prices have plummeted.<\/p>\n<p>&quot;I feel like all my fingers are mashed in the door right now,&quot; Pickens, 80, said on CNBC today. &quot;I&#8217;m trying to get someone to open the door for me.&quot;<\/p>\n<p>The Wall Street Journal reported last week that Pickens was having his worst performance in 10 years, with his funds losing about $1 billion.<\/p>\n<p>&quot;It&#8217;s more than that now,&quot; Pickens said.<\/p>\n<p>Pickens said his funds require a 90-day notice to withdraw money, &quot;so if we can recover in the fourth quarter,&quot; people might reconsider exiting.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.chron.com\/disp\/story.mpl\/business\/6031694.html\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Houston Chronicle &#8211; Boone Pickens, the billionaire founder of BP Capital LLC, said 15 percent of his hedge funds&#8217; holders have asked for the option to withdraw their money after he lost more than $1 billion in energy trades this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[310,1362,140,178,1530,647,281,200,2415,2140,2956,147,2954,2955,39,173,47],"class_list":["post-8747","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-100-million","tag-absolute-return","tag-alan-greenspan","tag-amount-of-money","tag-casualties","tag-caxton","tag-conglomerate","tag-exchange-trading","tag-exxon","tag-french-oil","tag-investment-firms","tag-journalism","tag-new-zealand-dollars","tag-public-glimpse","tag-soft-dollar","tag-strategist","tag-third-party"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8747"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8747\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}