Amazon The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future

The First Billion Is the Hardest: Reflections on a Life of Comebacks and America's Energy Future

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Editorial Review:

With a Plan for Reducing U.S. Oil Dependency
It's never too late to top your personal best.
Now eighty years old, T. Boone Pickens is a legendary figure in the business world. Known as the "Oracle of Oil" because of his uncanny ability to predict the direction of fuel prices, he built Mesa Petroleum, one of the largest independent oil companies in the United States, from a $2,500 investment. In the 1980s, Pickens became a household name when he executed a series of unsolicited buyout bids for undervalued oil companies, in the process reinventing the notion of shareholders' rights. Even his failures were successful in that they forced risk-averse managers to reconsider the way they did business.
When Pickens left Mesa at age sixty-eight after a spectacular downward spiral in the company's profits, many counted him out. Indeed, what followed for him was a painful divorce, clinical depression, a temporary inability to predict the movement of energy prices, and the loss of 90 percent of his investing capital. But Pickens was far from out.
From that personal and professional nadir, Pickens staged one of the most impressive comebacks in the industry, turning his investment fund's remaining $3 million into $8 billion in profit in just a few years. That made him, at age seventy-seven, the world's second-highest-paid hedge fund manager. But he wasn't done yet. Today, Pickens is making some of the world's most colossal energy bets. If he has his way, most of America's cars will eventually run on natural gas, and vast swaths of the nation's prairie land will become places where wind can be harnessed for power generation. Currently no less bold than he was decades ago when he single-handedly transformed America's oil industry, Pickens is staking billions on the conviction that he knows what's coming. In this book, he spells out that future in detail, not only presenting a comprehensive plan for American energy independence but also providing a fascinating glimpse into key resources such as water--yet another area where he is putting billions on the line.
From a businessman who is extraordinarily humble yet is considered one of the world's most visionary, The First Billion Is the Hardest is both a riveting account of a life spent pulling off improbable triumphs and a report back from the front of the global energy and natural-resource wars--of vital interest to anyone who has a stake in America's future.

Customer Reviews:

• Avg. Customer Rating: 4.0 / 5.0

• Read it Solely for the Energy Plan
  This book is almost two books in one. First, there is Pickens's retelling of the exciting moments and big deals from his life and the money he's made. For anyone interested in his prior deals at Mesa or BP Capital, this is the book for you. For someone more interested in his energy policy or ideas for a more energy-independent U.S., the last few chapters are what you're looking for (perhaps you've seen his recent commercials and want to learn more). While I found some chapters of the book to be lacking in... more info

• Heavy on the Biography. Light on "America's Energy Future".
  The title, "The First Billion is the Hardest: Reflections on a Life of Comebacks and America's Energy Future", is misleading.
  "The First Billion is the Hardest" suggests a discussion of making money, but it doesn't build upon this theme at all.
  If you're looking for a detailed biography of Pickens' oil career, this is your book. All but one chapter are dedicated to the high-risk career T. Boone Pickens has lived - with all of the triumph and agony that came with it.
  If you're looking for... more info

• the truth behind gas prices
  A great book! T. Boone Pickens is a true Patriot. One who loves this country and mankind before the love of money. I enjoyed knowing more about the man and his direction for America's energy future; even though I did not agree with everything he says. For example, as the author of The Truth Behind Gas Prices, a former gas dealer and someone who has studied this industry for 12 years, I believe oil companies are manipulating supply to raise prices. Nevertheless, this book and his life is an inspiration to... more info

• A Good Quick Read, one part inspiration and one good plan
  As of this writing, Boone has probably lost a billion since the oil/gas markets have crashed and his BP Capital hedge fund has dropped some 60% this year. This is a man who bets big, levers up and generates spectacular results when he's right and awful results when wrong. However, the fact that he's lost so much this year shouldn't be a reason to gloat or a reason to dismiss this book.
  His is an inspirational story in that his most dramatic success and probably his most daring plans have come at an age... more info

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