Wednesday, 20 August 2014
Last updated 47 min ago
Jun 27 2013 | 9:26am ET
Former Moore Capital Management and GLG Partners star trader Greg Coffey has added to his retirement cushion through the sale of five photographs.
The five limited-edition prints by the artist Andreas Gursky netted £5.5 million, more than £2 million above their high estimate. The photos depict securities exchanges in Chicago, Hong Kong, Kuwait and Tokyo, and date from between 1990 and 2009. The Windy City bourse proved most attractive, with "Chicago Board of Trade III" fetching £2.2 million, a new record for a Gursky exchange photo.
Coffey had sought to sell the set as a whole to galleries prior to yesterday's auction at Sotheby's in London, but was unable to find a buyer.
Coffey left Moore late last year, saying he planned to return to his native Australia to spend more time with his family. He joined the firm four years earlier from GLG, but was unable to replicate his success at his new firm.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note