- Major Retail Earnings in Focus Ahead of Shopping Season
- Look Ahead: 'Risk On' Sentiment Could Fuel Rally Further
- Week Ahead: Stocks Search for Catalyst in Quiet Week
- Unemployment May Crack 10%, Job Losses to Bottom
- Look Ahead: Choppy Trade Likely, Cisco to Boost Techs
- Will Fed Change Its Tune?
- Tuesday Preview: Stocks to Seesaw, Economy in Focus
- Week Ahead: Volatility, the Fed and Plenty of Economic Data
- Stocks Unlikely to be Spooked on Halloween Eve
- US GDP Pivotal to Market Sentiment on Thursday
RSS FEED
MOST SHARED
- Herbalife Vs. Hedge Funds
- Apple Surpasses Nokia as Top Cellphone Maker by Profits
- Gold Heading to $1150: Art Hogan
- Cramer Jeers J&J, Applauds Abbott
- Adobe Cuts 680 Jobs, to Take Charge
- Toll Brothers: More Contracts Signed, but Sales Down
- JPMorgan Chase to Hire 1,200 Mortgage Officers
- US Becomes Top Country Brand Under Obama: Survey
- SingTel Posts Higher Quarterly Profit, Cautious on Growth
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- Starbucks Brews Up Growth
- Farr: An Extended Period—No Fat Lady in Sight
- More Upside if S&P Passes This Number: Market Pro
- Murdoch Lashes Out At Google
- Fighting The Flu Vaccine Critics
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- Retail Earnings in Focus Ahead of Shopping Season
- Apple Surpasses Nokia as Top Handset Maker by Profit
- In This Relay-Race Market, Who Gets Baton Next?
- Workers Staying Put at Their Jobs as Jobless Surges
- Three Things the US Can Do To Stop the Dollar's Decline
- Toll Brothers: More Contracts Signed, but Sales Down
- Ponzi Proceeds: Bidding on Madoff's Toys
- Bear Stearn Fund Managers Not Guilty on All Counts
- Commodity ETFs: Returns May Not Match Expectations
Market Insider
Text Size 
When Boone Pickens speaks, we know the oil market listens. But we were very interested to see that Birinyi Associates were listening as well when Pickens was interviewed by Becky Quick on "Squawk Box" today.
Look at the chart below. Birinyi director of research Jeff Rubin went back over the last 18 comments made by Pickens and charted oil's move.
For the most part, Rubin says Pickens' predictions were right, and it appears his views should not be ignored. "He has an insight that most investors lack," Rubin told me.
Of course there was that time this year when Pickens was on the wrong side of the chart (number 14) and said oil was moving lower, but otherwise, not a bad record. We might also dispute his comment that $80 oil could push the U.S. into a recession. (number 9), and of course, we have yet to see whether his latest forecast is right (numbers 17 and 18).
Pickens said today that he expects oil to go to $150 per barrel this year. He also says that at $100 per barrel, the U.S. consumes about $600 billion in oil annually, money that is flowing out of the United States.
Pickens is a big investor in wind energy, and he is a proponent of increasing the use of natural gas as an oil replacement. He said wind could ultimately be a big contributor, but ethanol will not be. (see the full interview)
"We pay attention to anyone whose record we can point to as being right. One of our hallmarks is we track what people are saying," said Rubin.
I would imagine those who are mostly right is probably not a very long list.
 |
Questions? Comments?
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
- If you are lucky enough to have money and the time, this is a great time to see America, says CNBC's Jane Wells.
- What’s powering your microwave, fridge and computer? Part of it is fuel from Russian nuclear weapons. The NYT reports.
- One author sees lessons for you in Disney’s recent Makeover of Mickey Mouse: “Nice” doesn’t always win.
- With 123 years of history, slogans and commercials, Coca-Cola is the most recognized brand on earth.
- The opening of a virtual pet store in “World of Warcraft” could prove a cash bonanza for Activision-Blizzard.
Data is a real-time snapshot *Data is delayed at least 15 minutes