Theory of art

Doug Henwood dhenwood at panix.com
Thu Jan 7 03:31:42 PST 1999


Chuck Grimes wrote at the end of a typically thoughtful post:


>PS. I am perfectly willing to discuss Abstract Expressionism, color
>field painting, the art market, graphic design, sculpture, and figure
>drawing if you want to go in that direction. But, the above sketch is
>the back drop or context against which I am also trying to place these
>latter sorts of topics.

Apologies for my bringing in a philistine note here, but what about that art market? Why were there so many celebrity artists in New York during the 1980s - Salle, Schnabel, Fischl, the ex-commodity broker with the floating basketballs whose name escapes me - and there don't seem to be any now? They all in Cool Brittania now?

Doug

PS: Just heard on CNBC that Abby Joseph Cohen, the superbullish Goldman Sachs guru, has reduced her recommended portfolio allocation from 72% in stocks to 70%. This is the first time she's reduced her allocation in the 1990s, though she's still on the high end of stock weighting on Wall Street. She's saying that while the market isn't overvalued, but valuations aren't as attractive as they were last fall. Gosh, next thing you know the Pope will be denying the Virgin Birth.



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