The fact is whether you're a guru like Buffet or Pickens, or an 18 y/o paper trader like stock_trad3r, if you get married to an idea (market direction), you'll eventually be proven very wrong and humbled by the market.
T-boone was on CNBC for the longest time. Now that he has blown the account and the fund has been shuttered, what will he do next?
He'll bang tons of chicks in their 20's in his many HUGE homes across the country wearing an OSU tshirt and some Orange socks Ego blow... but not gonna change his lifestyle
I am thinking a reality TV show here. Pickens, Kirkorian, Zell, Redstone, and Trump could do a show, how to live on millions when you are used to living on billions. Maybe throw in Ozzy and Sharon Osbourne. How to live like millionaire rock stars after you lived like billionaire business moguls.
Got a better idea.. How about your put all of these guys in a house.. Then make them start from scratch without any connections.. try to get jobs.. climb up corporate ladder, start a business, etc. With $5000 seed money and no extraordinary ability to gain credit. In the end of the year, the one who has the most wins. Let them blow it on the casino or a brokerage account... Trading places modern style.
What happens if you sank your money into the fund and then T.Boone calls you to say that he blew it off of a few "bad bets". Who is worse? Madoff or Pickens? A crook or an idiot?
Pickens is an asshole, pure and simple. All his pretense about wanting to save the country from the dangers of relying on 'foreign oil.' Give me a f**king break. Just say you wanted to make billions more, Pickens - be honest, and I'd respect you much more than for those incredible lies. Oh, and the way he screwed Oklahoma State out of his prior pledge of 130 million was truly classless, also. He's not only a liar, he's a welcher.
I think Buffett is tempting fate. All this value crap......how do you measure value ifassets vaporize? This ain't 1985. If he's truly doubling up on Axp and all that.......... It is possible he vaporizes too. You just can't keep going back to the well, the same well, year after year. Marty Zweig was the man in the 80's. News letters. You'd call his hotline. Of course, the Specialist did too. But he was solid. Always on Rukhyser (sp). He just took his chips and retired to Florida. Because it's llike being sheriff in Tombstone. Someday, your number is going to be up unless you're really lucky, or you marry the schoolmarm and move out of town. Has nothing to do with age. Ego. It's all ego.