Boone Pickens is calling it quits

posted by Maverick -

                                                                         

T. Boone Pickens, the iconic oil and natural gas investor, is getting out of the business he helped shape since the 1950s.

Pickens, 89, chairman of BP Capital Fund Advisors, announced in a letter that he is shutting the commodity and energy stock hedge funds he runs. He cited poor health and advanced age as the reason.

“It’s no secret the past year has not been good to me, from a health perspective or a financial one,” he wrote in a letter he posted on LinkedIn on Friday. “Health-wise, I’m still recovering from a series of strokes I suffered late last year, and a major fall over the summer. If you are lucky enough to make it to 89 years of age like I have, those things tend to put life in perspective. It’s time to start making new plans and setting new priorities.”

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