After the long hours of ranking banks, discussing prestige, and arguing over the exit opportunities of, one thing that the monkeys here love to do is talk about what to do with their future billions.
Well, here’s one for ya.
I’m a huge fan of art, particularly those of the Old Dutch masters and some of the Impressionists, but for some reason I’ve always had an affinity for contemporary works like Mark Rothko's and while browsing through Barry Ritholtz’s blog, I came across this link.
Another Pollock might be up for auction soon and with their prices hitting nine digits, we can guess who this might end up with.
Decades ago, patrons of the art usually had to have prefixes like HRH and HSH to afford them, but fast forward to today, they’ve been replaced with suffixes like CFA and MBA.
The titans of Wall Street are now the lords of the art collecting world; Blankfein has a few Warhols, Kravis has a couple Monet’s, and of course, the undisputed king is Stevie Cohen - with a collection worth somewhere around a billion including that infamous rotting shark he got from Damien Hirst.
Now, I’m curious as to what the monkeys here think of these trophies; when you actually get your billions, would you actually plunk down eight to nine digits for a piece of canvas with scribbles of paint on it?
$8 million for a smelly shark?
$28 million for a chair somebody probably farted on?
If not then what would you collect? Sports memorabilia perhaps?
And how much would you actually spend on them at the most?
As much as I love art (of which those two^ are not), I'd probably have a coronary from losing that much from my bank account.
Then again I’m no Stevie Cohen.
Enjoy your weekend monkeys.