The Absurd Investment Thread

There are some institutions that shouldn’t be gambling. Many of them have been. Squibbs hundreds of millions of losses in sub-prime MBS come to mind, but at least they have the case. Other institutions should have known better, like Quinn Insurance, but still gambled away three years profit. But the following takes the biscuit (so far) for me: … Blog-12968
(Courtesy of Jesse’s Cafe via Some Assembly Required)

Might be ok now though; Looks like he is picking up the tab :

STILLWATER, Okla. (AP) — Billionaire booster T. Boone Pickens will give another $63 million in cash to Oklahoma State to finish the renovation of the football stadium that bears his name, but the future of other athletic projects he’d intended to fund is in doubt because of the economic downturn.

Pickens announced his latest in a line of gifts to his alma mater Monday and also said he would be returning to the school the $125 million that remained from its investment in a hedge fund he’d been managing since donating a record-breaking $165 million to the university in January 2006. … QD9434MR00

Any truth in the rumour that he is changing his name to “Slim” Pickens?