?In 1997, T. Boone Pickens formed BP Capital in Dallas with a small group of trusted associates. That first year, the fund lost money nearly every month—a setback on the heels of Pickens’ prior successes. By January 1999, less than $5 million was left. He kept things simple, however, gathering all the information he could, and came roaring back. After working to effect a major turnaround in his mood and increase his physical fitness routines, Pickens went looking for more investors in 2001. Later, the fund made a play in ...