Steve Cohen Is Not Only Buying Art From Sotheby's (BID), Now He Owns a 5.9% Stake In the Stock
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Steve Cohen's SAC Capital raised its stake in auction house Sotheby's (NYSE: BID) to 3,952,027 shares, or 5.9%, from the 3,144,090 share stake held at the quarter ended Dec, 31 2008. SAC Capital did not show a stake in Sotheby in the prior quarter (Sept 30). A 13G indicates a passive investment of 5% or more.
This is interesting as the stock has been absolutely brutalized on the sinking art market.
It should also be noted that the billionaire hedge fund manager Cohen is also an avid art collector.
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Comments
a cohen by any other name
its only fitting that a scumbag who can afford EVERYTHING while people are living in boxes, would buy up an art gallery auction company which was convicted of rigging auctions with schill bids. Why isnt that what sac cohen does every day with its naked shorting? both those companies should be crucified, their assets seized and split up by the folks who lost 60% of their 401ks.
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Nice people
keithpirelli on Mar 17, 2009 08:26 PMCohen,Greenspan,Rubin,Summers,Swartzman,Zollick,Weill,Soros,Lampert,Kovner,Icahn,Bernanke,Blankfein,Greenberg,Milken,Boesky,Kirkorian,Pearlman,Bloomberg,Abramoff,Nearly Madoff,Goldman Sachs etc are all going to help the World's economic crisis,because they are all innocent,unless forced to say otherwise by pushy Attorney Generals or poor people,,they want to help us and none of them are worried about their 401ks because when you have that much power,well,somehow it just doesn't seem to matter anymore.....Wish I was an American believer in the free markets.