Hedge Fund Manager Adam Sender Selling Massive Art Collection

Posted by maggie laurent on August 31, 2015 at 2:29 am | Filled Under: Uncategorized| No comments

When someone sells a large art collection, it usually does not garner that much attention because it can be normal for that industry. What isn’t normal about this story is Adam Sender is a hedge fund manager and he is selling a collection of 400 pieces, none of which are by the masters of art. To better understand why this story is so unique, you need to go back over a decade to when Sender was running that hedge fund for his clients.

Sender was making good money running the hedge fund for his clients. He and his clients were making nice profits at the time, and many of the people who had positions took their profits and kept reinvesting over the years. The story begins with Sender looking outside the fund for a way to grow his profits faster than he was making with the fund. It was a combination of looking for a secure platform and a place that was virtually untapped at the time. Adam began to focus on Contemporary art, and he realized quickly this was a very volatile place to make his mark. Adam Sender is a well known part-time art collector.

In order to buy pieces from the greats like Warhol, it was going to cost Sender over a million dollars per painting. That did not leave him room to make a profit, and if the market turned downward, he was going to really lose his investments quickly. The key here was Sender was not an art collector and did not have years experience buying and selling artwork. He did make one brilliant decision that set the wheels in motion for him becoming of the highest paid collectors in recent years.

Rather than look for deals from the best painters in the world, Sender began to look at lesser-known artists who were creating masterpieces of their own. He knew if he could get some of these pieces before the artist became a household name, he had a chance to strike it big. He began buying top quality pieces for only $100,000 per painting, and grew his art collection fairly quickly. In 2006 he took some of those paintings to auction to see if he was fairing well or headed to financial ruin. He sold 40 pieces for $20 million dollars and realized he was on to something big.

Since that time his collection has grown to 139 artists and 400 pieces. He got out of the hedge fund business and just this year decided he wanted to also get out of his art paintings positions too. Sotheby’s has since been commissioned to sell off Sender’s massive lot of paintings, expecting the sales to take well over a year and six months. When the last piece sells, Sotheby’s expects Adam Sender to pocket $70 million dollars.



Magic Mike XXL Is One Heck Of A Good Time

Posted by maggie laurent on August 26, 2015 at 7:32 am | Filled Under: Famous Women| No comments

I didn’t go into Magic Mike XXL expecting to see a blockbuster masterpiece, but I did go into it expecting to see some of my favorite, fun actors dance and act goofy. I have to say that I absolutely had a blast watching this film. I know a lot of people overthink the movie, and say that the men are too old to dance. Maybe they are too old to dance in the real world, but this was a Hollywood comedy, and I think if you were to go just to laugh then you picked a winner. I know I did.

The cast is a lot better than most people want to admit to. Channing Tatum can do no wrong in my eyes since he did the 21 Jump Street films with Jonah Hill, and played a great role in the psychological thrilller called Side Effects. Joe Manganeillo was great in it too, and I don’t care if he is older; I wish I was in the shape that he is now. They were both very funny in it, and their roles were something that both straight men and women can appreciate. The female cast should not go unmentioned though either.

Crystal Hunt is the 30 year old blonde bombshell that plays Lauren in the film. This women is stunning, but I am a sucker for the “All American Girl” look, and Crystal is the poster girl for it. She does not have a very large filmography though, but she does stay very busy and productive in film. She’s listed as the executive producer on an upcoming horror movie. Horror is without a doubt my favorite genre, and I think it takes a lot of guts to diversify like that, and to throw a lot of money at a risky genre like horror. All in all, I think we are all going to be seeing a long and interesting career from her.

Go to Magic Mike XXL for the easy laughs and comedy, and stay because the whole thing is filled with easy laughs and comedy. I loved it, and I think my money was well spent. I can name a 100 movies that I wish I could get my money back for and Magic Mike XXL isn’t even a consideration for that list.



Adam Sender Going to Sell His 400 Piece Art Collection through Sotheby’s for Over $70 Million

Posted by maggie laurent on August 22, 2015 at 2:24 pm | Filled Under: Uncategorized| No comments

One of the advantages to being in charge of a hedge fund is being able to take advantage of the market and pull profits to reinvest where you expect growth. Adam Sender was in charge of one of the more successful hedge funds, and he took a more unconventional route when his fund was at the top of the industry. This is usually where everyone is enjoying significant growth, and investors continued to bank money year after year as the fund blossomed.

Adam Sender is not your average hedge fund manager, and even though he could have taken his profits and put them back into the company and enjoy growth year after year, he put his money somewhere unconventional. Sender decided that he wanted to take his money and get into the art world, buying masterpieces and building a collection he could some day turn around and sell for a profit. This risky move was at a time when Contemporary art was not selling for anywhere what it is today.

So Adam Sender began to take some of his money off the table and he purchased art. Looking back, one of the smartest moves Sender made was not going after the big artists and their collections, because as he said in an interview later, the Warhol art would have easily cost him million per piece. So Sender went a more unconventional route, purchasing the best works from lesser known artists. These pieces were still masterpieces, but fetching only a hundred to two hundred thousand at the time. Adam Sender was also written about by ArtNews.

Sender decided in 2006 that he was going to unload 40 pieces of his collection to test his theory about the market, and quickly sold all 40 pieces for an amazing $20 million dollars. His hunch was right, and he continues to grow that art collection. Fast forward to today, and Sender amassed a 400 piece art collection that is comprised of over 130 different artists. Adam Sender has since closed that hedge fund that provided the revenue to buy all those art pieces, and today is liquidating his position in the art world too.

Adam Sender contacted Sotheby’s auction house to move the entire 400 piece art collection one painting at a time. This process takes significant time and work, having to inventory, market, then run the auction, a process expected to take 18 months to complete. The money that Sender will have to pay in acquisition fees will easily be covered by the profits he made back in 2006. That means that when the 400 piece collection is finally sold off, Sender should be able to walk away a very richer man, with $70 million dollars to show for his art purchases.



My New York City Apartment Is Everything I’ve Been Looking For

Posted by maggie laurent on August 15, 2015 at 2:35 pm | Filled Under: News| No comments

I was looking for an apartment in New York City because I got a modeling job that pays a lot of money. Money was no object even before I got the job because I come from a wealthy family. I was very scared about having to move to New York City, but I knew that I could find someone to help me find a new place. I had called my friend who lived there for years because I was planning on having my friend look for an apartment for me. Unfortunately, my friend told me that she is off traveling overseas, so I was stuck looking for an apartment on my own.

It’s very hard to work as a model each day, and I have to try and look for an apartment in a completely different city. I currently live in California, and New York City is nowhere near where I live. The only thing I thought I could do is to call a real estate agent in New York City properties to help me find an apartment. I wasn’t certain who had the best listings in New York City, and I knew that I was looking for a place that I could really be happy with when I move in. I have a lot of friends in New York City, and I do plan on entertaining from time to time.

After I did a little bit of research online, I came across Town Real Estate. I see that Town Real Estate has over five years of experience in the New York City area, and I’m in love with some of the apartments I saw on their website. I decided to contact the agency directly, and I am working directly with an agent over there. I am able to go to work every day, and when I’m free at the end of the day I listen to my voice messages. There was not one day that my real estate agent didn’t give me different listings that were available.

I’m glad I chose to work with Town Real Estate because all of their listings are extremely luxurious, and they are some of the best apartments I’ve seen anywhere. Town Real Estate has apartments that are big in size, and the locations are right in the heart of where I want to be. The last listing that my agent gave to me was right across the street from the company I’ll be working with, and the apartment has everything I need. I plan to fly out to New York City over the weekend to meet with my Town Real Estate agent, but all I can say is that I’m very happy that I chose to work with this amazing company.



China Is The Number One Economy In The World But Who Really Cares?

Posted by maggie laurent on August 15, 2015 at 3:46 am | Filled Under: China| No comments

Being number one carries some weight if you are a politician, a sports team or a big corporation. There is an egotistical element to being number one even if it is only for a short period of time. Americans like to be number one because they like how it sounds. Number one denoted being the best and beating others, and America was built on beating others and striving for the best. But being number one doesn’t really matter does it? If you’re number two or three or even number four you still accomplished something in terms of measurement. Take the GDP measurement foe example. Economists have taken pride in the fact that the United States has been the largest economy in the world for years. But being number one in GDP output hasn’t saved jobs or employed most of the unemployed. The U.S. lost that title a few years ago and with the exception a few economists nobody cares.

Nobody cares for a good reason. The economy is a pretty arbitrary notion, according Christian Broda and other investors. Broda is an economy expert and managing director of Duquesne Capital Management in the Big Apple. The number of people in a country must enter the equation in order to get a true read on the size and health of an economy. India has a big economy, but it also has 1.4 billion people. Luxembourg is much smaller, but there are only 400,000 people living there so the quality of life is much better in Luxembourg, according to Broda. China is the number one economy now, but no one noticed when it happened except for a few economists that keep track of the arbitrary numbers that tells us nothing about what really matters in an economy.

China has been the largest economy for 19 of the last 20 centuries. The massive country has too many people not to be number one. China has 18 percent of the people, according to Broda, so it makes sense that China should make up 18 percent of the world’s economy. But the U.S. citizens still lives better than China’s citizens, and that won’t change for a while.



Squaw Valley Ski is the Ideal Vacation Spot

Posted by maggie laurent on August 7, 2015 at 6:43 pm | Filled Under: Ideas for Travel, Travel, Vacation| No comments

 

I have had a lot of family trips, but somehow I never considered a Ski resort before. It was my wife’s idea, but I am so glad that she decided to do this. It has become one of the best times for my family because the Squaw Valley Ski Resort is such a wonderful place to spend a vacation. 

I read about the current CEO Andy Wirth,  and I was impressed with the money that he spent to renovate this resort. The resort apparently was run by a family before Wirth took on this project. He has managed to boost the tourism here, and that is really one of the main reasons that I decide to check this area out. Wirth already has experience with resorts of this nature. That made it incredibly easy for him to come forth and lead like someone that was ready to make a serious change with the Squaw Valley Ski Resort. 

It was surprising to learn that it was one of the biggest Ski resorts in the world, but I had never even heard of it. My wife thought that it would be something new and fun to do, but I wasn’t totally convinced until I arrived. It was upon my arrival that I discovered all that was going on. I loved the landscape of the area, and I thought that atmosphere was great. I also loved the look and feel of the rooms. I read that Andy had a challenge ahead of him in getting this ski resort to look more contemporary like the other resorts that were in competition with Squaw Valley. I think that he has done a great job because I would certainly vacation there again. I wouldn’t hesitate to take my family there again. The staff was incredibly delightful, and I really appreciated what this resort was able to provide. I think that he has managed to build a resort that is worthy of the admiration that it has earned.

I was never a fan of skiing, but this resort really made me rethink my vacation planning. The view is so beautiful that I really wished that I could have stayed there longer. I love the tram rides, and I have enjoyed the ski training. I would recommend this travel spot for anyone that wants to have a good family vacation with beautiful views to wake up to.



Stephen Murray and CCMP: Private Equity Pioneers

Posted by maggie laurent on August 7, 2015 at 11:08 am | Filled Under: News| No comments

Stephen Murray, former CEO of CCMP Capital Advisors died March 12, 2015. Mr. Murray was one of the founders of CCMP and both were pioneers of successful private equity investment. Murray had a long successful career as a financial manager that led to his success at CCMP. He was raised in Westchester County, New York and earned a BA at Boston College and MPA at Columbia University.He worked with JP Morgan Chase & Co. until 2006 when it was decided to spin off CCMP as a separate unit.

The initial plan was to develop $3.5 billion in assets and in the time set as goal $3.4b was raised. Murray was interviewed about the new company and attributed their success to a number of questions that were asked by investors and which were answered successfully. Investors were interested in their track reoord. how they developed source deals as well as how much reliance was placed upon the bank. He said their untimate success was based upon their strategy, how they differentiated in investments and the ability to follow through on the plan.He explained that the reason they did not achieve the original $3.5b goal was that time ran out on the schedule. Still the result is enviable in every way.

Murray and CCMP were pinoeers in private equity investing and he was described by colleagues and friends as an excellent investor and deal maker.The general plan and strategy for CCMP has been aiming at middle market,leveraged buy-outs and growth equity investments. They invest $100-500 million in equity transactions and aim at consumer, industrial, health care and energy opportunities.

CCMP admits that Stephen Murray will be aadly missed for his energy, contributions and general acumen in the field of private equity investments. CCMP will continue to put his achievements to use for clients and investors as his heritage.



I Only Pay $5 Monthly For Access To FreedomPop’s Wi-Fi Hotspots

Posted by maggie laurent on August 3, 2015 at 10:15 pm | Filled Under: Internet, What I Pay| No comments

I’m not only sick and tired of paying so much money for my Internet services each month, I finally made the choice to quit paying those fees. The only reason I have Internet in the first place was because my boyfriend wanted Internet access, but I don’t think he was doing anything appropriate on the Internet anyways, so I decided to cut it off. I only realized that I still needed use of the Internet when I went to put in for a new job, and I was told that I had to apply online. I wasn’t certain what I would do, but I went to the library to use the Internet.

Unbelievably, I was only able to use the Internet for a few minutes, and the library charged me for the time I went over my allotment. I couldn’t believe that a library would actually charged people money, so I needed to figure out another way to get on the Internet. I have a tablet that I bring around with me, but I can’t just go on the Internet any time I feel, because I have no Internet access. I tried to look into a solution that wouldn’t cost me an arm and a leg, and I found a solution by accident.

I learned about a company named FreedomPop, and I found out that they have Wi-Fi services that are available through hotspots around my city. Someone who was in a restaurant I was eating at said they constantly connected to the FreedomPop Wi-Fi service, and it only cost them $5 a month. I was told that the service is unlimited, and as long as I was near a hotspot I could use the Internet as much as I wanted to. The whole thing almost sounded too good to be true.

I found the application and downloaded it to my phone and tablet, and I started using the Internet that day. In fact, once I signed up for the FreedomPop Wi-Fi service and paid my fee, I was able to access the Internet at all times from their hotspots. I even got onto my tablet using the application, and I was able to put in that job application I had been looking to turn in. I can’t believe that any company would allow so much Internet access for so little, but I know that I can utilize FreedomPop’s Wi-Fi service every day.

Reference Link: http://techcrunch.com/2015/01/21/freedompop-wifi/



IBM Profits Continue to Slump

Posted by maggie laurent on July 30, 2015 at 3:25 am | Filled Under: Uncategorized| No comments

IBM (International Business Machines Corp.) has been around since the early days of business and home computing, at one point even being seen as a competent competitor to Apple as a provider of complex and compact machines. However, while companies like James Dondero owned, Microsoft and Dell were able to adapt to changing markets and developments in technological developments, IBM has been far behind the curve and they seem to be paying for it.

As reported by Nasdaq, IBM’s revenue has dropped by a sharp 13.5% which continues a trend of losses per quarter stretching back for 13 consecutive periods, and this comes despite cuts and adoption of cloud services to provide their clientele.

The move to the cloud seems to be a smart one, and follows the trend of other tech giants like Microsoft and Apple, however detractors were quick to point out that such a move undermines IBM’s strong suit–providing hardware. Though they remained determined to stick to this course, they endured harsh cuts in the previous year, ending their commitment to servers, mobile, and chips designed to expedited analytics.

IBM remains optimistic and proud in the face of criticism and loss, claiming that this is merely the shape innovation takes. But revenue dropped in business services, software, technology services, and hardware by 12, 10, 10, and 32% respectively. In addition to shrinking revenue, profit margins are reducing in size as well. While lower taxes and restructuring may have offset costs from loss of business, underperformance is quickly catching up.



Giant Lobster

Posted by maggie laurent on July 22, 2015 at 1:57 am | Filled Under: Culture| No comments

They’re a strange pair of friends. Susan McGalla, restaurant owner and a lobster. When you think of these two together typically, you’d be thinking of a restaurant owner that’s cooking up a tasty lobster. That’s not true in this case. This owner does not want anyone eating his lobster friend. It’s for good reason, as well.

This lobster is twenty three pounds! It’s hard to imagine how big that is. It’s roughly the size of a one year old, or a few bowling balls. The size of this lobster leads people to estimate that it is about 95 years old. Holy Cow! That’s older than an age that a lot of people live to see. The owner of the restaurant that it was shipped to thinks that’s pretty special. He doesn’t believe that the lobster deserves to go out as somebody elses food, especially after living that long!

According to GrubStreet, the owner was not expecting a lobster that big when he lifted the lid off the crate once it got delivered. It seems that he’s happy though. The two are almost pals. They can be seen posing together in numerous photos. So, if you catch yourself in Long Island any time soon, visiting the giant beast might be a fun thing to do! Perhaps, the owner will even let you pose in a picture. You can do a fun game and see who’s bigger. The one thing you can’t do, is eat any part of this big guy.



Next Page »