T. Boone Wants Cash For A New Fund

tboonepickens tbi

Accused-vandal T. Boone Pickens is out raising cash for his hedge funds, after posting a staggering 79% gain year-to-date in 2009.

Of course, in 2008 he did awful. One of his funds lost 98% in 2008, and another lost 64%.

Obviously, we haven’t seen the fund’s material but we’re guessing it doesn’t go something like: “Invest with us, we’ll ride the energy market’s ups and downs, but with MUCH more volatility and 20% performance fees.”

If you’re not an accredited investor, and thus ineligible for T. Boone’s fund, DXO is the ticker for the Powershares 2x levered crude ETF. You can get all the fun and volatility on your own with much lower fees.

It goes without saying: buyer beware.

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