Here's one hedge fund manager who is back in a big way: T. Boone Pickens. The one-time raider reinvented himself as a hedge fund manager and gadfly for energy independence only to get stuck with huge losses and redemption requests in 2008. But 2009 is another story: He's up 79 percent, according to Bloomberg.

According to the news outlet, Pickens met with potential investors in New York over the past two weeks. Apparently, his BP Capital is seeking to expand its Energy Equity Fund II, which invests in stocks and futures, and Energy Fund II, which trades futures only. Meanwhile, he has apparently scrapped his plans to build a massive wind farm in West Texas. Pickens' hand may have been forced by sour credit conditions. So he's back into fossil fuels. 

For more:
- here's an article on his wind plans
- here's the Bloomberg article

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