Many hedge fund managers collect skilled Craft as a hobby.
Hedge fund managers are Frequently immoderately wealthy. These investment advisers catching excessive risks every generation in financial markets, on the contrary they tend to be less adventurous with personal hobbies. Craft collecting allows hedge fund managers to flaunt their method and reserve risk-taking for the markets.
Identification
Famend hedge fund investors repeatedly earn hundreds of millions of dollars over a existence. Craft collecting can depend upon enormous sums, and displaying great Craft is repeatedly a notice of prestige.
Risk Taking
When an investor selects a hedge fund, it's generally as of the gaffer production the investment decisions. All the more of a hedge fund's trouble is tied up in the director. As a consequence, managers usually refrain from risky hobbies--such as gliding, which killed hedge fund manager Jean-Pierre Aguilar in 2009.
Prestige
Hedge fund managers invest huge amounts of money in fine art because they can, and for the prestige attached with being a collector. Manager Steven Cohen, who earned $350 million in 2003, has spent more than $300 million on his art collection, according to The New York Times.
Trends
According to Forbes, the news media has touted fine art as the trendiest of collections. Griffin paid $80 million for Jasper Johns' "False Start," according to The New York Times.
Financial experts, including hedge fund managers, have contributed large sums to this trend, propelling the careers of many artists and consultants and boosting the fortunes of several galleries.
