Friday, 19 September 2014
Last updated 12 hours ago
Jul 2 2014 | 5:11am ET
Point72 Asset Management’s Steven Cohen continues to actively manage his famed art collection, selling a piece at Christie’s postwar and contemporary art auction yesterday.
Taking advantage of a frothy market for such works, Cohen sold a “word painting” by the American artist Christopher Wool, whose oeuvre has been fetching high prices recently. The canvas, which reads “HAAH” in black capital letters, went for $10.6 million, well over its low estimate of $9.2 million.
The New York Times reported that Cohen was the seller of the 1990 painting.
All told, the London auction brought in $169.9 million, above its low estimate of $135 million, with 12 of the 75 lots failing to sell.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.