Tags: arbitrageurs, Art, Asher Edelman, Bonuses, Corporate raiders, Goldman Sachs, Gordon Gekko, Greece, London, Taxes, UK
Check out Richard Perry’s 1 Sutton Place South terrace. It’s all blinged out with a 5 foot high green stainless steel diamond — a sculpture by Jeff Koons that sold in 2005 for $2.3 milllion. And it apparently hasn’t made him very popular with at least a couple of the neighbors. According to the NY Post:
Tags: Art, Hedge funds, Perry Capital, Richard Perry, Wealth
Charlie Rose interviewed casino king Steve Wynn. Among the topics, which of course included the difficulties that the casino industry currently faces, was his now famous elbowing of one of his paintings, La Reve, which he had sold to SAC Capital’s Steve Cohen:
Tags: Art, Casinos, SAC Capital, Stave Cohen, Steve Wynn
At least the ones in paintings. Page Six "Sightings" notes that the KKR boss was seen "intently studying" one of the paintings of a hooker at the Museum of Modern Art’s "Kirchner and the Berlin Street" show of rare 1914 paintings from artist Ernst Ludwig Kirchner. The painter focused on the street life in Berlin, and he liked to show ladies of the evening, who you could pick out of the crowd from their big plumed hats. A far cry from what today’s hookers look like.
Tags: Art, Henry Kravis, Hookers, KKR
The heavy metal rocker’s got another gig as an artist and he’s doing quite well with over $2 million in sales in 2007. He spoke to Neil Cavuto on 2/1…..
Tags: Art, Fox Business Network, Music
It’s now on display at the Museum of Modern art where the Damian Hirst creation is on loan from SAC Capital’s boss…
A completely different sculptural experience awaits at the Metropolitan Museum of Art, where Damien Hirst’s formaldehyde- preserved tiger shark has gone on display for a three-year term (loaned by SAC Capital’s Steven A. Cohen, its owner).
For all its notoriety, the recently rebuilt 1991 work, titled “The Physical Impossibility of Death in the Mind of Someone Living,” is as startling a confrontation with mortality as one is likely to find this side of Hades. Floating in a glass tank whose blue-green liquid turns fluorescent in daylight, it doesn’t actually look very real, but as a victim of human curiosity it elicits both sympathy and repugnance
Hirst’s Dead Shark, Puryear’s Stairway to Nowhere Liven Up N.Y. – Bloomberg
Tags: Art, SAC Capital
If you didn’t catch the show on Thursday evening, you really should catch one of the upcoming reruns. It was a fun watch. Some pictures from the show are below; we’ll have lots more later….
Tags: Art, Culture, Greenwich, Jeffrey Epstein, John Devaney, Paul Tudor Jones, SAC Capital
What do billionaire Wall Street BSDs blow their ill-gotten gains on? VH-1 aims to tell you, if you don’t already know. Over the weekend we saw a promo for an upcoming VH-1 show: "The Fabulous Life: Billion Dollar Wall Street Ballers". It’ll air on Thursday at 11am EDT and again that night at 9PM EDT with additional reruns on the VH-1 schedule. According to VH-1’s teaser/promo, the show features ESL / Sears’ Eddie Lampert, and naturally SAC Capital’s Steve Cohen. It also mentions the millions raised by the Robin Hood Foundation, so we’d guess that Paul Tudor Jones is probably in there too. Surprisingly also featured are accused perv / billionaire Jeffrey Epstein as well as besieged-by-subprime-debt John Devaney (Maybe parting with his "Positive Carry" yacht might not be such a big deal after all — VH-1 says he has 10!).
Think stars are having all of the fun?
Think again. These days nobody’s making more and spending more than the
buttoned-down badasses of Wall Street. From their sprawling estates and
tricked-out private yachts to exotic vacation homes and multi-million dollar art
collections– these guys are living larger than anyone else on the planet.
Welcome to The Fabulous Life of Billion Dollar Wall Street Ballers.
Tags: Art, Culture, Eddie Lampert, Jeffrey Epstein, John Devaney, SAC Capital
This hedge fund manager turned artist is looking for a New York gallery to represent her work, "optimally in Chelsea":
She is the pseudonymous Amanda Putty, who
says she has put her talent to work exposing the sexist behavior of her male
peers. Putty, who has worked in the HF industry for seven years but no longer
as a portfolio manager, has created about 20 works of art, which represent the
way men view women, such as baby dolls, mistresses, trophy wives, collectibles
and playthings. “My paintings depict quintessential fantasies of hedge fund
managers — fantasies of money and power centered on women.,” she says. “I
am quite familiar with these fantasies.”
Tags: Art, Hedge funds
Now that his rotting $8 million shark has been replaced by its creator, Damien Hirst, SAC Capital’s Steve Cohen has decided that his toothy pickled friend will get a new home: the Metropolitan Museum of Art:
This week the Met confirmed that the shark will go on view in its modern and contemporary art galleries by Labor Day weekend. It will be there for two to three years.
“When Steve Cohen acquired it, I sent him an e-mail asking if we could show it,” said Gary
Tinterow, the Met’s curator in charge of 19th-century, modern and contemporary art.
Tags: Art, Hedge funds, SAC Capital
Eclipsing the $28 million auction record for Andy Warhol’s image of Marilyn Monroe known as "Lemon Marilyn", SAC Capital’s Steve Cohen bought "Turquoise Marilyn" according to his spokesman, Jonathan Gasthalter. He’s said to have paid around $80 million for it in a private transaction.
Hedge-Fund Manager Cohen Buys Warhol Marilyn Picture – Bloomberg
Tags: Art, Hedge funds, SAC Capital
Remember when casino empressario Steve Wynn accidentally put his elbow through Picasso’s "Le Reve" ("The Dream") that he had agreed to sell to SAC Capital’s Steve Cohen for $139 million? A restorer who fixed the hole in the painting said that it’s now worth $85 million, and Wynn filed a $54 million claim with insurer Lloyds of London which they haven’t yet settled. Now he’s suing the Lloyds:
Wynn, 64, whose Wynn Resorts owns casinos in Las Vegas and Macau, is seeking documents related to the insurer’s appraisal of the work, worth $139 million before it was damaged Sept. 30. A restorer said the repaired painting is worth $85 million, a complaint filed yesterday in Manhattan federal court said.
The casino owner said he hasn’t been paid yet or received a counter-offer from the 300-year-old insurance market. He is seeking to compel Lloyd’s to surrender its documents appraising the loss. His lawyer, Barry Slotnick, said Wynn may later sue to recover his financial loss if Lloyd’s refuses to pay $54 million.
“We do believe we’re entitled to the loss,” Slotnick said in an interview. “We have been waiting.”
Wynn Sues Lloyd’s After Claiming $54 Million for Picasso Tear – Bloomberg
Tags: Art, SAC Capital
After a $139 million deal to buy a Picasso from Steve Wynn fell apart after he put his elbow through the piece, Steve Cohen has stepped up to the plate with another monster priced art buy, this one for $137.5 million. He bought de Kooning’s "Woman III" from David Geffen:
It is the last painting in de Kooning’s “Women” series still in private hands. “This is arguably the most important postwar painting that is not in a museum,” Sandy Heller, an art adviser to Mr. Cohen, said yesterday. “We were in the right place at the right time. It’s our good fortune.”
Mr. Cohen, 50, has amassed a vast collection over the last six years that ranges from a Manet self-portrait to one of Jackson Pollock’s classic drip paintings to Damien Hirst’s infamous shark submerged in a tank of formaldehyde. Only last month he purchased a different de Kooning from Mr. Geffen, a 1955 landscape titled “Police Gazette,” for $63.5 million.
Landmark De Kooning Crowns Collection – New York Times
Tags: Art
Hedge fund manager Adam Sender, who founded Exis Capital Management after working for Steve Cohen at SAC Capital, is putting 6 pieces of art on the block from his extensive collection next week at Phillips de Pury & Co. in New York:
The sale has sent ripples through the New York art community, where purchases by hedge-fund managers helped triple contemporary prices in 10 years. Steven Cohen, Sender and Daniel Loeb are among the most active collectors, according to ARTnews magazine. [Todd] Levin, in charge of Sender’s 800 artworks, helped set a Chris Ofili record last year when he acquired a dung-and-glitter painting, “Afrodizzia,” for $1 million…. [Yes you read it right, it's elephant dung].
Sender, in an unusual arrangement, will pay a share of his profit to certain artists, said people familiar with the deal. In some cases, there were prior agreements to do so, they said.
Tags: Art, Hedge funds, SAC Capital
What happens in Vegas is generally supposed to stay in Vegas. But sometimes it doesn’t happen that way. When casino impressario Steve Wynn accidentally put his elbow through a Picasso during a dinner party — attended by the likes of Barbara Walters, David Boies, Henry Silverman, Nora Ephron and others –those attending took a vow of silence. They wanted to give Wynn some time so that he could gently break the news to Steve Cohen of SAC Capital who had recently bought the painting, Le Rêve, from him for $139 million. But someone spilled the beans, and somehow it got leaked to Page Six of the New York Post. But so far, no one’s fessing up as to how the news got out although Nora Ephron thinks the answer’s pretty clear…
Tags: Art, SAC Capital
"Oh shit….Look what I’ve done": Last week we noted that Steve Wynn suffered a little mishap with one of the works of art in his collection during a cocktail party he was throwing. In the presense of Barbara Walters, Henry Silverman, Nora Ephron, David Boies and others he put his elbow through the canvas. Oops. But it gets worse. He had recently sold the piece, Picasso’s "Le Rêve" (The Dream), to SAC Capital’s Steve Cohen for $139 million. Now it’s turned into "Le Rêve Mauvais" (The Bad Dream), since he’s gonna get to keep it….
Tags: Art, SAC Capital
He already owns the famous $12 million pickled shark creation by Damien Hirst that’s now rotting and in need of restoration. Now another piece of artwork said to be purchased by Steve Cohen of SAC Capital may be damaged and in need of fixing — a Picasso that he’s said to have bought from casino impressario Steve Wynn. According to yesterday’s Page Six, Wynn reportedly put his elbow through the canvas during a cocktail party and ripped it. Oops.
DID casino king Steve Wynn put his elbow through a Picasso? Sources said Wynn was hosting a cocktail party in his penthouse at the Wynn Las Vegas for the likes of Barbara Walters, Louise Grunwald, Georgette Mosbacher, David and Mary Boies, Henry and Nancy Silverman, Nora Ephron and Nick Pileggi, and Tatiana and Serge Sorokko. "It was a Picasso from the Blue Period, worth $140 million, which he had just sold to hedge-fund billionaire Steven Cohen," said one source. Wynn gallantly told his guests, "I’m glad that was me." The canvas was rushed off for repairs on a 6-inch tear. Wynn’s rep said, "We don’t have any information on this."
Cubist-killer – Page Six New York Post
Tags: Art, SAC Capital
Damien Hirst, the artist that gave the world and SAC Capital’s Steve Cohen the $8 million pickled shark, is in talks with the hedge fund manager about "refurbishing" his now rotting creation.
“Damien has never been satisfied with the look of this shark,” London-based Science Ltd., said in a statement. “He is currently in discussion with Steven Cohen about refurbishing the work, though nothing has been decided yet.”
Fifteen years ago, when the shark was preserved, formaldehyde was not injected into the “deep tissues,” unlike in similar Hirst works made before and after, the statement said. “This process didn’t work,” it added.
Damien Hirst Is in Talks With Buyer Cohen to `Refurbish’ Shark – Bloomberg
Tags: Art, Hedge funds, SAC Capital
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