Artful way to make money
Art is not generally seen as an investable asset class. For some hedge funds, however, trading art can be as profitable as any other strategy. Kris Devasabai and Stephen Quigley examine how art is being successfully traded
Hedge funds seeking respite from the tumultuous financial markets are dipping into art. The concept of art as an investable asset class, as well as an object of beauty, is not new for the hedge fund industry. Fund managers active in the sector say the current recessionary climate has created an environment brimming with buying opportunities.
The price of art skyrocketed during the credit boom as interest from wealthy individuals and institutions awash with cash helped drive up prices. The market
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