Tuesday, September 25, 2012

Top Bond Manager Offers Million Dollar Plus Bounty

Jeffrey Gundlach, the founder of Doubleline Capital and formerly the head of the $12 billion TCW Total Return Bond Fund, is offering a  $1.7-million bounty for the safe return of an art collection stolen from his Santa Monica home last week.

Gundlach originally offered a $200,000 reward for information leading to the return of the paintings.

He added $1 million for information leading to the return of a Mondrian painting called "Composition (A) En Rouge Et Blanc." He is offering $500,000 for the return of three other paintings, two by Joseph Cornell and one by Johns.

Police said Gundlach estimated the value of his collection at about $10 million. Two of the pieces sold for a combined $8.7 million in recent years. The Mondrian painting sold at auction for $5.3 million in 2002, according to Sotheby's.

According to LaTi, "The biggest unanswered question: Was the caper the work of sophisticated art thieves or street burglars who couldn't tell a Renoir from a Rockwell?"

1 comment:

  1. I would pay more for a Lew Rockwell than a Norman Rockwell.