Hedge Funds

Cohen sells painting for $5.2 million


A seasoned trader like SAC Capital's Steve Cohen knows every deal can't be a home run. But surely Cohen was unimpressed with the $5.2 million price tag his Willem de Kooning painting fetched at a recent auction in Manhattan, as the price was at the low end of estimates made before the auction.

Steve Cohen

Mind you, the expressionist work tagged Untitled XVI was one of de Kooning's later and less acclaimed works from the 1980s. But it was all for a good cause: The $5.2 million is going to New York's New Museum in