Saturday, 30 August 2014
Last updated 19 hours ago
Nov 27 2013 | 9:31am ET
SAC Capital Advisors founder Steven Cohen's decision to sell $77 million worth of his prized art collection this month may have had nothing to do with his current legal predicament, but it has kept him off of a list of the most important art collectors in the world.
For the second straight year, Art & Auction magazine has left Cohen off of its Power 100 list. Editor-in-chief Benjamin Genocchio explained to Bloomberg Brief, "He's not on the list because he's de-accessioning. He switched gears in the last few months and turned from being an acquirer to being a seller."
Most recently, that's meant selling a cache of Warhols and other paintings at Sotheby's. The works, including pieces by Gerhard Richter and Brice Marden, disappointed, bringing in less than their high pre-sale estimate of $85 million.
The sales reportedly were not related to SAC's legal issues; the hedge fund earlier this month pleaded guilty to insider-trading charges and will pay $1.2 billion in fines, all of it from Cohen's pocket.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...