Hedge Fund News From HedgeCo.Net

Top hedge fund in bid to shape up Sotheby’s

Reuters – Hedge fund manager Mick McGuire is not an art collector and has never felt the thrill of bidding in a Sotheby’s (BID.N) auction, where adrenaline spikes with each multimillion-dollar sale of a Cezanne, Rothko or Picasso.

Still, he has ideas on how the 269-year-old auction house might do better for shareholders, and since June has built up a 7 percent stake to allow him to take some of his proposals to management.

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