T. Boone Pickens Calls It Quits on Energy Trading

Peace and Freedom

The oilman and investment manager cites deteriorating health and poor returns; fund will move toward a family-office structure

T. Boone Pickens, 89 years old, wrote in his letter to investors, ‘Trading oil is not as intriguing to me as it once was.”’
T. Boone Pickens, 89 years old, wrote in his letter to investors, ‘Trading oil is not as intriguing to me as it once was.”’ PHOTO: DAVID PAUL MORRIS/BLOOMBERG NEWS

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T. Boone Pickens, a famous oilman and investment manager, said he is closing the energy-focused hedge fund he has run for the last two decades as his health declines.

The move closes a chapter in a nearly seven-decade career that has included stints as a wildcatter, corporate raider, cattle trader and clean-energy evangelist.

The 89-year-old Oklahoma native cited both his deteriorating health and weak financial performance as reasons for closing the fund, according to a letter that he plans to publish soon and was reviewed by The Wall…

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