Picasso sold for $US155m

Steven Cohen, the billionaire investor whose hedge fund agreed to pay US authorities $US616 million to settle allegations of insider trading this month, has spent $US155 million on a painting by Pablo Picasso. He bought Le Reve from casino magnate Steve Wynn.

By InvestSMART · 28 Mar 2013

By InvestSMART ·
28 Mar 2013

Comments

Go to Google News, then click "Follow" button to add us.

Share this article and show your support

Frequently Asked Questions about this Article…

Who bought the Picasso painting reported in the article?

Billionaire investor Steven Cohen bought the Picasso painting mentioned in the article.

How much did Steven Cohen pay for the Picasso artwork?

Steven Cohen paid US$155 million for the painting, according to the article.

Which Picasso painting did Steven Cohen purchase?

He bought the Picasso painting titled Le Reve, as reported in the article.

Who sold Le Reve to Steven Cohen?

Casino magnate Steve Wynn sold Le Reve to Steven Cohen, according to the article.

Did Steven Cohen’s hedge fund face an insider trading settlement?

Yes. The article states Cohen’s hedge fund agreed to pay US authorities US$616 million to settle allegations of insider trading this month.

Is there any stated link between the US$616 million settlement and the US$155 million art purchase?

The article reports both the settlement and the art purchase but does not state any connection between them.

Who is Steve Wynn as described in the article?

The article describes Steve Wynn as a casino magnate and identifies him as the seller of Le Reve.

What should everyday investors know about this news about Steven Cohen and the Picasso sale?

The article highlights two facts: Steven Cohen bought Picasso’s Le Reve for US$155 million, and his hedge fund agreed to a US$616 million settlement over insider trading allegations. The piece reports these events but does not provide investment advice or analysis.