Boone Pickens’ BP Capital Funds is down. How far down is Boone Picken’s BP? About $1 billion! Boone Pickens BP hedge fund is down 30% through August

BP’s total losses this year: $1 billion, and $270 million of personal losses.

“It’s my toughest run in 10 years. We missed the turn in the market, there’s nothing fun about it.”

“I’m not willing to accept that [the downturn] was due to a global slowdown” reducing energy. When there’s deleveraging in markets it will affect everything.”

“Oil likely will finish the year around $120 or $125 a barrel.”

So how bad has it been for BP? Pickens says “It’s like mashing all your fingers in the door… This has been a pretty bad period for us,” he says.