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Steve Cohen Could Replace Yale's Entire Art History Department Without Ever Having Read A Book: Art Dealer

He won't, but he *could*.
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Cohen doesn't have the kind of art "aptitude" you pick up at some fancy school, or by burying your nose in some musty old tome. No. His comes from the trenches: the garden parties, the gallery openings, the wining-and-dining by auction house, the Museum of Contemporary Art board meetings, the highly-compensated art advisors. In short, it comes from having the will and ability to drop a quarter-billion dollars on two Giacometti sculptures in a few months.

Hedge fund billionaire Steven Cohen is the secret buyer of the world’s most expensive sculpture, Alberto Giacometti’s “Man Pointing,” for $141.3 million at Christie’s, Page Six can exclusively reveal. While much of the attention was on the sale of Picasso’s “Les Femmes d’Alger” for $179 million, setting a world record for the most expensive artwork ever sold at auction, Cohen quietly bought Giacometti’s 1947 masterpiece “Man Pointing,” or “L’Homme au doigt,” a life-size bronze sculpture of a thin man, at the same May 11 Christie’s auction. [...] “It’s one of the great 20th-century sculptures,’’ said Manhattan art dealer William Acquavella at the time, adding of Cohen, “Steve is a very serious, very astute collector. He also has the right instincts, ones that can’t be learned from reading art-history books.

So just, y'know, take your syllabi and shove 'em.

Man who bought the world’s most expensive sculpture revealed [NYP]


Steve Cohen Bought Himself A Little Pick-Me-Up

As you may have heard, the last number of months have been a bit tough on hedge fund manager Steve Cohen. In November, one of his former employees, Mathew Martoma, was accused of orchestrating "the most lucrative insider trading scheme ever," in a criminal complaint in which Cohen was referenced as Portfolio Manager A. A week later, the Times lopped 21,000 square feet off his house. Earlier this month, he had the pleasure of setting the record for the largest insider trading fine ever, at $614 million, a sum that does not even put this whole thing behind him, as the settlement "doesn't preclude the Securities and Exchange Commission from pursuing Cohen himself in the future." So you'll excuse the Big Guy if he felt the need to indulge in a little retail therapy recently.


Unlike His Philistine Staff, Steve Cohen Likes Round Art

Apparently, SAC is the Sir Mix-a-Lot of art collectors.

Art World's Reactions To Steve Cohen Woes Range From "I'm going to begging for change outside the Staples Center" To "NBD"

Time was, Steve Cohen told the Feds where they could go. No matter how much heat they put on him, the Big Guy would not burn. If they wanted to relentlessly circle him in an attempt to find evidence of insider trading, that was fine by Steve. But he wasn't going to act like he gave a rat's ass and he certainly wasn't going to wilt under the scrutiny or draw the blinds at Casa Cohen and curl up in a ball to cry. This time two years ago, despite SAC receiving a subpoena from the government, the FBI raiding the firms of several former SAC employees, and an analyst being asked to wear a wire while chatting him up, Cohen not only hopped on a private plane to attend Art Basel, but he did so with a smile on his face. ("Cohen," the Journal reported, was in "jovial spirits and eager to chat about his fresh art acquisitions," which included a "large-scale map of the world made from tin cans" that he bought in the first five minutes of the fair opening.)  And while one could argue that the heat on Steve has been cranked up quite a bit more since then, we assumed he was dealing with it in typical Steve fashion, and would make it to Miami like always. So it was particularly troubling to hear this: