Update: Art Hedge Funds

Felix Salmon of Reuters has a very short but interesting, article, or perhaps statement on investing in art funds. He believes that given the nature of the art market as a financial asset class, investing in art funds is not a wise idea.

Salmon states

Art is simply not an asset class which lends itself to hedge-fund strategies. If you’re ever approached by a former financial-markets professional who has bright plans for some kind of an art fund, run, don’t walk, in the opposite direction. The art market will happily take full advantage of cocky newcomers like that: it chews such people up and spits them out for breakfast.

To read the full post, click HERE.