Tuesday, 16 September 2014
Last updated 1 hour ago
May 11 2010 | 4:34pm ET
SAC Capital Advisors’ Steven Cohen now boasts one of the largest and most impressive private art collections in the world. One of the very first paintings in that collection is also one of its rarest—and now it’s headed for the auction block.
Cohen plans to sell an Édouard Manet self-portrait—one of only two painted by the impressionist master—this summer. The canvas is expected to get between $30.1 million and $45.2 million at Sotheby’s on June 22.
“It was one of Steve’s first purchases,” the hedge fund billionaire’s art adviser, Sandy Heller, said. “Now it’s time for the painting to live another life.”
Cohen paid $18.7 million for the painting, which dates to 1878 and shows the artist holding a palette and paintbrushes, in 1997.
Cohen has focused in recent years on 20th and 21st century art.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?