Aug 30, 2022 | The Sherman Show

TSS Episode 123: Masterworks’ Allen Sukholitsky on Adding Art to Your Portfolio

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Jeffrey Sherman and Sam Lau welcome Allen Sukholitsky, chief investment officer at art investment platform Masterworks, to DoubleLine’s The Sherman Show to discuss art as an asset class. Mr. Sukholitsky kicks off the discussion recounting how his background in researching asset classes led him to move from what he calls “traditional investment management” into the art space (1:30). They then get into the democratization of the art investment space (4:18), how Masterworks’ proprietary database guides its investment process (6:24), the price range the firm focuses on and why it prefers post-World War II pieces to Old Masters (10:53) as well as Damien Hirst’s Sharpe ratio – “literally close to zero,” says Mr. Sukholitsky (13:50).

Other topics covered by the group include a look at selling and momentum strategies in the art space (15:32), art’s correlation profile and performance as a portfolio diversifier (19:27) and portfolio management (26:33). On investing in NFTs, Mr. Sukholitsky says that Masterworks has not figured out how to value digital art, noting, “I’m not sure anybody has sorted that question out.” This episode was recorded Aug. 30, 2022.

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About the Hosts

About the Hosts

  • Jeffrey Sherman, CFA

    Jeffrey Sherman, CFA

    As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.

  • Samuel Lau

    Macro-Asset Allocation

    Samuel Lau

    Macro-Asset Allocation

    Mr. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro Committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, and Monday Morning Minutes (Twitter @DLineMinutes, podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.