If you want to know what energy stocks to buy, you should see what stocks T. Boone Pickens is buying. We have added T. Boone Pickens into our list of gurus.
Thomas Boone Pickens, Jr. (born May 22, 1928) is an American businessman who chairs the private equity firm BP Capital Management. With an estimated current net worth of around $2.5 billion, he is ranked by Forbes as the 131-richest person in America and ranked #369 in the World.
T. Boone Pickens started his career in the early 1950's as a roughneck in oilfields in Oklahoma and Texas. He then became a geologist for Phillips Petroleum until 1954. In 1956, Pickens founded Mesa Petroleum and Petroleum Exploration with two other partners.
The next few decades witnessed massive growth for these companies, which ultimately emerged as Mesa following several mergers. The company became the nation's largest independent domestic producer of oil and gas, and one of its biggest gas producers.
Pickens achieved real notoriety in the 1980's after repeated attempts (some involving greenmail) to takeover major oil companies because of his conviction that acquisition opportunities in the marketplace were more profitable than exploration and production.
During an interview with Business Week, asked where he'd recommend putting money today, Pickens gave two suggestions. One was coal, because natural gas has become too costly to use for electricity generation -- and therefore coal's share of generation will grow. His second bet is the oil sands in Canada.
We have updated his most recent portfolio and buys and sells. Not surprisingly, energy stocks are more than 78% of his portfolio. His recent purchases: EnCana Corporation (ECA, Financial) and Halliburton Co. (HAL, Financial).
Thomas Boone Pickens, Jr. (born May 22, 1928) is an American businessman who chairs the private equity firm BP Capital Management. With an estimated current net worth of around $2.5 billion, he is ranked by Forbes as the 131-richest person in America and ranked #369 in the World.
T. Boone Pickens started his career in the early 1950's as a roughneck in oilfields in Oklahoma and Texas. He then became a geologist for Phillips Petroleum until 1954. In 1956, Pickens founded Mesa Petroleum and Petroleum Exploration with two other partners.
The next few decades witnessed massive growth for these companies, which ultimately emerged as Mesa following several mergers. The company became the nation's largest independent domestic producer of oil and gas, and one of its biggest gas producers.
Pickens achieved real notoriety in the 1980's after repeated attempts (some involving greenmail) to takeover major oil companies because of his conviction that acquisition opportunities in the marketplace were more profitable than exploration and production.
During an interview with Business Week, asked where he'd recommend putting money today, Pickens gave two suggestions. One was coal, because natural gas has become too costly to use for electricity generation -- and therefore coal's share of generation will grow. His second bet is the oil sands in Canada.
We have updated his most recent portfolio and buys and sells. Not surprisingly, energy stocks are more than 78% of his portfolio. His recent purchases: EnCana Corporation (ECA, Financial) and Halliburton Co. (HAL, Financial).
