Hedge Funds

Steinhardt won't part with his Picasso


Hedge fund manager Michael Steinhardt's views on investing in contemporary art might be summed up in one word - sell. Steinhardt says that art prices have soared to ludicrous levels, a fact that has surely been helped by renewed interest by a new wave of collectors that includes many top hedge fund managers. And Steinhardt knows his stuff, having spent more than $100 million on art over the last two decades. His collection, much of it displayed at his New York office, includes works by Israeli artist Anna Ticho. His Fifth Avenue apartment in Manhattan contains works from