Investing successfully in art has always been a bit of a quagmire: opaque, inscrutable, unpredictable, ruled by passionate collectors and secretive insiders, a dangerous game for amateurs. And collectors and connoisseurs have long purchased art o...
The California Public Employees Retirement System (CalPERS) announced a decision this week to shed its $4 billion allocation to hedge funds, saying the funds were too complex and too costly to scale to the size the pension needed them to be...