T. Boone Pickens Loves These Stocks

Updated from 8 a.m. EDT

Although T. Boone Pickens is now 80 years old, he has the brain of a 55-year-old, according to an article in Forbes magazine that covered Pickens' MRI brain scan.

Pickens has a net worth of $3 billion and is head of the BP Capital Management hedge fund, was up 26% in 2006 and over 100% in 2005. He recently became a promoter of alternative energy and natural gas and started buying up water rights in a large way. He has donated more than $700 million to charity.

One technique that traders use is to follow in the footsteps of top traders, such as Pickens.

To read the rest of the story and to see what Pickens is buying, please click here.

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A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

• Stocks related to drilling the Marcellus Shale
• MLPS with yields above 7%
• Microcaps trading for less than tangible book
• Stocks that do well after Hurricanes

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.