By Insider Monkey:
Billionaire T. Boone Pickens made a name for himself in the oil industry before venturing into the hedge fund game via his BP Capital. His experience has served him well. From mid-2001 to mid-2007, Pickens fund averaged returns of roughly 38 percent a year. On October 27th, we published an article about four short ideas we noticed in Pickens’ portfolio (read the article here). These ideas were derived by analyzing the stocks Pickens sold out completely. We don’t know whether Pickens is shorting these stocks, but one thing is certain that he doesn’t consider them as good long positions anymore. Let’s take a look at how these companies are performing now.
ABB Ltd (ABB) is involved in power and automation technology. Pickens had a $2.7 million position in ABB before he sold out in the second quarter. ABB had been a new position for Pickens. He had initiated a stake