Many folks were bullish on Halcon Resources (HK) in 2012 when they pushed the stock to $10. The bullish arguments increased when T. Boone Pickens added on his position in Halcon in late April-early May 2013. The stock was at ~$6.80 back then. I debated that Pickens and many other famous fund managers (i.e. Paulson) make big bets, but they also make big mistakes. Pickens has lost a lot of money by investing big in the wind and solar sectors. After betting and losing big in renewable energy, Pickens admitted in 2012 that the time to transition to wind and solar has not come yet.
Actually, Paulson's big bets have been the ultimate contrarian indicators...
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